Wealth Enhancement Advisory Services LLC Makes New $511,000 Investment in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Wealth Enhancement Advisory Services LLC invested approximately $511,000 in ACADIA Pharmaceuticals by acquiring 24,375 shares in the second quarter.
• Wall Street analysts show optimism for ACADIA with most ratings being either "Buy" or "Outperform," and a consensus price target of $29.12.
• Recent insider transactions included sales by executive vice president Mark C. Schneyer, who sold 3,498 shares, and director Elizabeth A. Garofalo, who sold 1,600 shares, reflecting ongoing management activity.

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,375 shares of the biopharmaceutical company's stock, valued at approximately $511,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC bought a new stake in ACADIA Pharmaceuticals during the first quarter worth approximately $29,000. Picton Mahoney Asset Management bought a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth $32,000. Banque Transatlantique SA acquired a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth $31,000. Federated Hermes Inc. raised its position in shares of ACADIA Pharmaceuticals by 231.5% during the first 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, Quantbot Technologies LP purchased a new stake in shares of ACADIA Pharmaceuticals during the first quarter valued at $52,000. 96.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ACAD has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price target on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Citigroup restated an "outperform" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, August 7th. The Goldman Sachs Group upped 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. JMP Securities lifted 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. Finally, TD Cowen increased their target price on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $29.12.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 3,498 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $23.65, for a total value of $82,727.70. Following the completion of the transaction, the executive vice president owned 43,447 shares in the company, valued at approximately $1,027,521.55. The trade was a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total value of $41,568.00. Following the completion of the transaction, the director directly owned 25,382 shares in the company, valued at approximately $659,424.36. This represents a 5.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,098 shares of company stock worth $678,256. 28.30% of the stock is owned by insiders.

ACADIA Pharmaceuticals Stock Up 2.0%

NASDAQ ACAD opened at $21.80 on Monday. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $26.65. The stock has a market cap of $3.68 billion, a P/E ratio of 16.39, a PEG ratio of 7.68 and a beta of 0.75. The company's 50-day simple moving average is $24.16 and its 200 day simple moving average is $20.88.

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. The company had revenue of $264.57 million for the quarter, compared to the consensus estimate of $263.07 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 earnings per share. Research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

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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