Two Sigma Advisers LP Buys 778,900 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Two Sigma Advisers LP grew its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 160.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,263,200 shares of the biopharmaceutical company's stock after purchasing an additional 778,900 shares during the quarter. Two Sigma Advisers LP owned about 0.76% of ACADIA Pharmaceuticals worth $23,180,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC grew its stake in ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the period. Barclays PLC boosted its holdings in shares of ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock worth $4,269,000 after buying an additional 154,854 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $272,000. Vanguard Group Inc. grew its position in shares of ACADIA Pharmaceuticals by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock worth $255,939,000 after buying an additional 104,444 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of ACADIA Pharmaceuticals by 66.9% in the 4th quarter. Victory Capital Management Inc. now owns 162,125 shares of the biopharmaceutical company's stock valued at $2,975,000 after acquiring an additional 64,995 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ACAD. BMO Capital Markets boosted their target price on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research report on Monday. UBS Group decreased their price objective on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a report on Monday, April 28th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 target price on the stock. Needham & Company LLC boosted their price target on shares of ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Monday. Finally, Morgan Stanley upped their price objective on shares of ACADIA Pharmaceuticals from $20.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.75.

ACADIA Pharmaceuticals Trading Down 1.4%

ACADIA Pharmaceuticals stock opened at $21.69 on Wednesday. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $25.23. The stock has a fifty day simple moving average of $16.11 and a two-hundred day simple moving average of $17.19. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 27.81 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $244.32 million for the quarter, compared to analysts' expectations of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm's quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. On average, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,171 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total value of $54,065.55. Following the completion of the transaction, the executive vice president now directly owns 56,889 shares in the company, valued at $969,957.45. This represents a 5.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the transaction, the director now directly owns 17,595 shares of the company's stock, valued at $320,756.85. This trade represents a 21.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,994 shares of company stock valued at $453,131. Company insiders own 26.50% of the company's stock.

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.

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