Russell Investments Group Ltd. Has $4.01 Million Position in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Russell Investments Group Ltd. increased its stake in ACADIA Pharmaceuticals by 22.0%, acquiring 43,523 shares, bringing its total ownership to 241,323 shares valued at approximately $4 million.
• Several hedge funds have also increased their holdings in ACADIA Pharmaceuticals, with institutional investors collectively owning 96.71% of the company's stock.
• Analysts have set increased price targets for ACADIA Pharmaceuticals, with Royal Bank Of Canada raising their target from $39 to $40, reflecting a generally positive outlook for the stock.

Russell Investments Group Ltd. lifted its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 22.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 241,323 shares of the biopharmaceutical company's stock after purchasing an additional 43,523 shares during the period. Russell Investments Group Ltd. owned 0.14% of ACADIA Pharmaceuticals worth $4,008,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth about $29,000. Picton Mahoney Asset Management bought a new position in ACADIA Pharmaceuticals during the 1st quarter worth approximately $32,000. Federated Hermes Inc. grew its holdings in ACADIA Pharmaceuticals by 231.5% during the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 1,618 shares during the period. Virtus Fund Advisers LLC acquired a new position in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $39,000. Finally, GAMMA Investing LLC increased its stake in ACADIA Pharmaceuticals by 627.3% in the first quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock valued at $58,000 after purchasing an additional 3,030 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Down 1.6%

ACAD traded down $0.42 during trading on Monday, hitting $25.32. The company had a trading volume of 2,042,257 shares, compared to its average volume of 1,963,269. The company has a market capitalization of $4.27 billion, a PE ratio of 19.04, a PEG ratio of 6.55 and a beta of 0.70. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $25.95. The firm's 50-day moving average price is $23.09 and its 200 day moving average price is $19.77.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $264.57 million for the quarter, compared to analysts' expectations of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 EPS. Sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 22,000 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $25.18, for a total value of $553,960.00. Following the sale, the executive vice president directly owned 40,130 shares of the company's stock, valued at approximately $1,010,473.40. The trade was a 35.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Laura Brege sold 14,446 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the sale, the director directly owned 15,095 shares in the company, valued at $328,769.10. This represents a 48.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 28.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Oppenheimer reissued a "market perform" rating and set a $22.00 price target (up from $19.00) on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Morgan Stanley set a $24.00 price target on shares of ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. HC Wainwright reissued a "buy" rating and set a $32.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. JMP Securities lifted their price target on shares of ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Finally, Bank of America lifted their price target on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a "hold" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $28.88.

About ACADIA Pharmaceuticals

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.