ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 100.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 352,716 shares of the biopharmaceutical company's stock after acquiring an additional 177,188 shares during the quarter. Rhumbline Advisers owned 0.21% of ACADIA Pharmaceuticals worth $5,859,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ACAD. Virtus Fund Advisers LLC purchased a new position in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $39,000. GF Fund Management CO. LTD. acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $64,000. Globeflex Capital L P acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $168,000. Xponance Inc. acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $186,000. Finally, Vinva Investment Management Ltd acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $187,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Trading Up 2.0%

Shares of NASDAQ:ACAD traded up $0.43 during midday trading on Monday, hitting $22.14. 1,069,362 shares of the stock were exchanged, compared to its average volume of 1,940,353. The stock has a market cap of $3.71 billion, a P/E ratio of 28.38 and a beta of 0.65. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.23. The company has a 50 day moving average price of $18.19 and a 200-day moving average price of $17.90.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business's revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. On average, equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Laura Brege sold 14,446 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the sale, the director now owns 15,095 shares in the company, valued at approximately $328,769.10. This trade represents a 48.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 2,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the completion of the sale, the executive vice president now owns 62,130 shares of the company's stock, valued at $1,553,250. This trade represents a 3.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,273 shares of company stock worth $653,182. 26.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ACAD shares. Bank of America increased their price target on ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Thursday, June 5th. Royal Bank of Canada reissued an "outperform" rating and issued a $26.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, May 19th. Robert W. Baird raised their target price on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and raised their target price for the company from $20.00 to $35.00 in a report on Wednesday, May 21st. Finally, HC Wainwright raised their target price on ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the company a "buy" rating in a report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $26.79.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.