Yousif Capital Management LLC Invests $764,000 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 first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 45,983 shares of the biopharmaceutical company's stock, valued at approximately $764,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. boosted its holdings in ACADIA Pharmaceuticals by 26.8% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 131,061 shares of the biopharmaceutical company's stock worth $2,177,000 after buying an additional 27,736 shares during the last quarter. Rhumbline Advisers boosted its holdings in ACADIA Pharmaceuticals by 100.9% during the first quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company's stock worth $5,859,000 after buying an additional 177,188 shares during the last quarter. Summit Global Investments bought a new position in ACADIA Pharmaceuticals during the first quarter worth about $398,000. GAMMA Investing LLC boosted its holdings in ACADIA Pharmaceuticals by 11,981.0% during the first quarter. GAMMA Investing LLC now owns 58,351 shares of the biopharmaceutical company's stock worth $969,000 after buying an additional 57,868 shares during the last quarter. Finally, Phocas Financial Corp. boosted its holdings in ACADIA Pharmaceuticals by 79.0% during the fourth quarter. Phocas Financial Corp. now owns 107,811 shares of the biopharmaceutical company's stock worth $1,978,000 after buying an additional 47,596 shares during the last quarter. Institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Price Performance

ACAD stock traded down $0.23 during mid-day trading on Monday, reaching $22.48. The company had a trading volume of 1,294,354 shares, compared to its average volume of 1,957,401. The stock has a 50 day simple moving average of $18.99 and a two-hundred day simple moving average of $18.11. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 4.85 and a beta of 0.64. 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 posted its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The business's revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. On average, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,000 shares of ACADIA Pharmaceuticals stock in a transaction that occurred 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 in the company, valued at approximately $458,887.50. The trade was a 16.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Laura Brege sold 14,446 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total value of $314,633.88. Following the transaction, the director now owns 15,095 shares of the company's stock, valued at $328,769.10. This represents a 48.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,273 shares of company stock worth $653,182 over the last ninety days. 28.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ACAD has been the topic of a number of research analyst reports. UBS Group dropped their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Robert W. Baird raised their price target on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. raised their price target on ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Cantor Fitzgerald raised ACADIA Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, BMO Capital Markets raised their price target on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.64.

ACADIA Pharmaceuticals Company 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.