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

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC bought a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at approximately $39,000. GF Fund Management CO. LTD. purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth $64,000. Globeflex Capital L P bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $168,000. Xponance Inc. purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $186,000. Finally, Vinva Investment Management Ltd bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $187,000. Institutional investors own 96.71% of the company's stock.

Insider Transactions at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the completion of the sale, the insider now owns 20,395 shares in the company, valued at approximately $458,887.50. The trade was a 16.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $314,633.88. Following the sale, the director now owns 15,095 shares in the company, valued at $328,769.10. This trade represents a 48.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,273 shares of company stock valued at $653,182. 26.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on ACAD shares. Wall Street Zen upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. HC Wainwright upped their price target on ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Morgan Stanley set a $24.00 price objective on ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their target price for the stock from $20.00 to $35.00 in a research note on Wednesday, May 21st. Finally, Bank of America increased their target price on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the company a "hold" rating in a research report on Thursday, June 5th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.79.

ACADIA Pharmaceuticals Stock Down 0.1%

NASDAQ:ACAD traded down $0.03 on Friday, hitting $21.71. The stock had a trading volume of 1,154,100 shares, compared to its average volume of 1,943,851. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 27.83 and a beta of 0.65. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $25.23. The company has a fifty day moving average price of $18.02 and a two-hundred day moving average price of $17.85.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. During the same quarter last year, the firm posted $0.10 earnings per share. The business's revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

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.