Yousif Capital Management LLC Makes New $764,000 Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Yousif Capital Management LLC bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 45,983 shares of the biopharmaceutical company's stock, valued at approximately $764,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in 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 in the last quarter. First Trust Advisors LP raised its stake in shares of ACADIA Pharmaceuticals by 27.0% in the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock worth $49,547,000 after acquiring an additional 574,251 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $40,935,000. Norges Bank bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $25,555,000. Finally, Two Sigma Advisers LP increased its holdings in shares of ACADIA Pharmaceuticals by 160.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company's stock valued at $23,180,000 after purchasing an additional 778,900 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Laura Brege sold 14,446 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total value of $314,633.88. Following the sale, the director now directly owns 15,095 shares of the company's stock, valued at approximately $328,769.10. The trade was a 48.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James Kihara sold 4,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.50, for a total transaction of $90,000.00. Following the completion of the transaction, the insider now directly owns 20,395 shares of the company's stock, valued at approximately $458,887.50. The trade was a 16.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,273 shares of company stock worth $653,182 over the last ninety days. 26.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ACAD. Oppenheimer reaffirmed a "market perform" rating on shares of ACADIA Pharmaceuticals in a report on Friday, May 16th. Morgan Stanley set a $24.00 target price on ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Cantor Fitzgerald upgraded ACADIA Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Robert W. Baird lifted their price objective on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, UBS Group cut their target price on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $26.79.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $22.95 on Friday. The firm has a 50 day moving average price of $18.68 and a 200 day moving average price of $18.01. The stock has a market cap of $3.84 billion, a P/E ratio of 16.75, a P/E/G ratio of 4.91 and a beta of 0.65. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The firm's revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. Analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal 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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