Rice Hall James & Associates LLC Purchases Shares of 618,887 ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Rice Hall James & Associates purchased 618,887 shares of ACADIA Pharmaceuticals in the second quarter, valued at approximately $15.7 million, giving it a 0.36% stake. Institutional investors collectively own 96.71% of the company.
• ACADIA reported quarterly earnings of $0.18 per share, exceeding the $0.07 consensus estimate, while revenue rose 16.4% year over year to $308 million. The stock opened at $29.01 and has a 52-week range of $19.69 to $29.85.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $34.19, although company insiders sold 42,100 shares worth approximately $1.13 million over the past three months.

Rice Hall James & Associates LLC purchased a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 618,887 shares of the biopharmaceutical company's stock, valued at approximately $15,658,000. Rice Hall James & Associates LLC owned about 0.36% of ACADIA Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 386 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC grew its stake in ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company's stock worth $36,000 after buying an additional 1,005 shares in the last quarter. Federated Hermes Inc. grew its stake in ACADIA Pharmaceuticals by 277.5% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company's stock worth $43,000 after buying an additional 1,185 shares in the last quarter. Finally, Leonteq Securities AG bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth $52,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $29.01 on Tuesday. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 22.24 and a beta of 0.81. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $29.85. The firm has a 50 day moving average price of $25.29 and a 200-day moving average price of $23.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.07 by $0.11. The company had revenue of $308.00 million for the quarter, compared to analyst estimates of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The firm's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. As a group, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.59 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the transaction, the executive vice president owned 18,994 shares in the company, valued at approximately $496,313.22. The trade was a 46.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Kihara sold 5,401 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the sale, the insider directly owned 24,509 shares of the company's stock, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 42,100 shares of company stock worth $1,134,287 over the last three months. Company insiders own 26.20% of the company's stock.

Analyst Upgrades and Downgrades

ACAD has been the subject of a number of research analyst reports. Citizens Jmp lifted their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 5th. Stifel Nicolaus increased their target price on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a "hold" rating in a research note on Tuesday, July 21st. Bank of America restated a "buy" rating and set a $14.50 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, July 29th. Citigroup lifted their price target on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, Oppenheimer upped their price objective on ACADIA Pharmaceuticals from $23.00 to $25.00 and gave the stock a "market perform" rating in a report on Wednesday, August 5th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $34.19.

ACADIA Pharmaceuticals Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA's research centers concentrate on conditions with significant unmet medical needs, including Parkinson's disease psychosis, Alzheimer's disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company's flagship product, NUPLAZID® (pimavanserin), received U.S.

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