Stempoint Capital LP Buys Shares of 242,566 ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Stempoint Capital initiated a position in ACADIA Pharmaceuticals by purchasing 242,566 shares valued at approximately $5.4 million, representing about 0.14% of the company. Institutional investors and hedge funds collectively own 96.71% of ACADIA.
• ACADIA’s latest quarterly results fell short of expectations, with earnings of $0.02 per share versus the $0.04 consensus estimate and revenue of $268.1 million versus $280.25 million expected. Revenue nevertheless increased 9.7% year over year.
• Analyst sentiment remains favorable, with 13 Buy ratings, four Holds, and one Sell; the consensus rating is Moderate Buy with a $32.31 price target, compared with shares opening at $26.34.

Stempoint Capital LP bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 242,566 shares of the biopharmaceutical company's stock, valued at approximately $5,400,000. Stempoint Capital LP owned about 0.14% of ACADIA Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 386 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC increased its holdings 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 purchasing an additional 1,005 shares in the last quarter. Federated Hermes Inc. raised its position in ACADIA Pharmaceuticals by 277.5% in the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company's stock valued at $43,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in ACADIA Pharmaceuticals in the fourth quarter valued at about $52,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Mark C. Schneyer sold 3,506 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total value of $76,395.74. Following the completion of the sale, the executive vice president owned 66,145 shares in the company, valued at $1,441,299.55. This represents a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James Kihara sold 5,401 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total transaction of $114,393.18. Following the completion of the sale, the insider owned 24,509 shares of the company's stock, valued at approximately $519,100.62. This represents a 18.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,239 shares of company stock valued at $219,813 over the last three months. 26.20% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $26.34 on Thursday. The stock has a 50 day moving average price of $23.54 and a two-hundred day moving average price of $23.21. The firm has a market capitalization of $4.51 billion, a P/E ratio of 11.97, a P/E/G ratio of 18.03 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a 52 week low of $19.69 and a 52 week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $268.10 million during the quarter, compared to analysts' expectations of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. On average, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ACAD shares. Royal Bank Of Canada upped their price target on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. BMO Capital Markets lifted their price target on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an "outperform" rating in a research note on Tuesday, July 21st. Canaccord Genuity Group upped their target price on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Citigroup increased their target price on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Thirteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.31.

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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