Scientech Research LLC Grows Stake in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Scientech Research LLC increased its stake in ACADIA Pharmaceuticals by 263.3%, now holding 37,785 shares valued at approximately $628,000.
• Wall Street analysts have a consensus rating of "Moderate Buy" for ACADIA Pharmaceuticals, with a consensus target price of $28.88.
• ACADIA Pharmaceuticals recently reported better-than-expected earnings with an EPS of $0.16, exceeding analysts' forecasts and showcasing a 9.4% year-over-year revenue growth.

Scientech Research LLC grew its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 263.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,785 shares of the biopharmaceutical company's stock after buying an additional 27,384 shares during the quarter. Scientech Research LLC's holdings in ACADIA Pharmaceuticals were worth $628,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ACAD. Exchange Traded Concepts LLC bought a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $29,000. Banque Transatlantique SA bought a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter worth approximately $31,000. Picton Mahoney Asset Management bought a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter worth approximately $32,000. Federated Hermes Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 231.5% in the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 1,618 shares during the period. Finally, Virtus Fund Advisers LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $39,000. Institutional investors own 96.71% of the company's stock.

Analyst Ratings Changes

ACAD has been the topic of a number of research reports. Mizuho lifted their price target on shares of ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their price target for the stock from $20.00 to $35.00 in a report on Wednesday, May 21st. UBS Group lifted their price target on shares of ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. 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 report on Thursday, August 7th. Finally, BMO Capital Markets lifted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.65.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock traded down $0.59 during mid-day trading on Friday, reaching $23.61. The company's stock had a trading volume of 1,539,914 shares, compared to its average volume of 1,782,423. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $26.65. The company has a market capitalization of $3.98 billion, a P/E ratio of 17.75, a PEG ratio of 5.98 and a beta of 0.75. The firm's fifty day moving average price is $23.99 and its two-hundred day moving average price is $20.34.

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

Insiders Place Their Bets

In other news, Director Elizabeth A. Garofalo sold 1,600 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total transaction of $41,568.00. Following the completion of the transaction, the director directly owned 25,382 shares in the company, valued at $659,424.36. The trade was a 5.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $553,960.00. Following the transaction, the executive vice president owned 40,130 shares of the company's stock, valued at $1,010,473.40. This trade represents a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.30% of the stock is owned by insiders.

ACADIA Pharmaceuticals 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.