TD Asset Management Inc Takes $971,000 Position in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• TD Asset Management Inc has purchased a new stake in ACADIA Pharmaceuticals, acquiring 45,000 shares valued at approximately $971,000 during the second quarter.
• Institutional investors hold 96.71% of ACADIA Pharmaceuticals, with notable increases in positions from firms such as Vanguard Group Inc. and American Century Companies Inc..
• ACADIA Pharmaceuticals reported earnings of $0.16 per share for the last quarter, exceeding analyst expectations, with a total revenue of $264.57 million, up 9.4% year-over-year.

TD Asset Management Inc purchased a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 45,000 shares of the biopharmaceutical company's stock, valued at approximately $971,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ACAD. Vanguard Group Inc. increased its position in shares of ACADIA Pharmaceuticals by 9.0% in the first quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock worth $252,526,000 after purchasing an additional 1,255,594 shares during the last quarter. Fred Alger Management LLC increased its position in shares of ACADIA Pharmaceuticals by 2.0% in the first quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company's stock worth $46,007,000 after purchasing an additional 54,899 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of ACADIA Pharmaceuticals by 73.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,977,432 shares of the biopharmaceutical company's stock worth $32,845,000 after purchasing an additional 838,728 shares during the last quarter. American Century Companies Inc. increased its position in shares of ACADIA Pharmaceuticals by 1,055.8% in the first quarter. American Century Companies Inc. now owns 1,632,749 shares of the biopharmaceutical company's stock worth $27,120,000 after purchasing an additional 1,491,484 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of ACADIA Pharmaceuticals by 11.6% in the first quarter. Northern Trust Corp now owns 1,375,213 shares of the biopharmaceutical company's stock worth $22,842,000 after purchasing an additional 142,847 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

Insider Activity

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 1,600 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total value of $41,568.00. Following the transaction, the director directly owned 25,382 shares of the company's stock, valued at approximately $659,424.36. This trade represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 22,000 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $25.18, for a total value of $553,960.00. Following the completion of the transaction, the executive vice president directly owned 40,130 shares in the company, valued at $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,098 shares of company stock worth $678,256 over the last three months. Insiders own 26.50% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD opened at $21.39 on Thursday. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 7.48 and a beta of 0.75. The stock's 50-day simple moving average is $23.37 and its two-hundred day simple moving average is $21.20. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, topping 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 return on equity of 14.69% and a net margin of 21.80%.The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.20 earnings per share. As a group, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ACAD shares. Citigroup started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday. They issued a "buy" rating and a $33.00 price objective on the stock. JMP Securities upped their price objective 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. Needham & Company LLC reduced their price target on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. Royal Bank Of Canada increased their price target on shares of ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group increased their price target on shares of ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the company a "sell" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $29.33.

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.

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