Gotham Asset Management LLC Acquires 34,240 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Gotham Asset Management LLC lifted its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 95.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,966 shares of the biopharmaceutical company's stock after purchasing an additional 34,240 shares during the period. Gotham Asset Management LLC's holdings in ACADIA Pharmaceuticals were worth $1,284,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in ACADIA Pharmaceuticals by 0.8% during the fourth 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 last quarter. First Trust Advisors LP grew its stake in ACADIA Pharmaceuticals by 27.0% during the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock valued at $49,547,000 after acquiring an additional 574,251 shares in the last quarter. SG Americas Securities LLC lifted its position 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 valued at $45,576,000 after purchasing an additional 1,966,607 shares during the last quarter. Norges Bank bought a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $25,555,000. Finally, Northern Trust Corp lifted its position in ACADIA Pharmaceuticals by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,232,366 shares of the biopharmaceutical company's stock valued at $22,614,000 after purchasing an additional 106,236 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 3,498 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $14.60, for a total transaction of $51,070.80. Following the completion of the transaction, the executive vice president now directly owns 62,773 shares of the company's stock, valued at approximately $916,485.80. This trade represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,994 shares of company stock worth $313,131. Company insiders own 26.50% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $22.26 on Friday. The stock has a market capitalization of $3.72 billion, a P/E ratio of 28.54 and a beta of 0.47. The company's 50-day simple moving average is $15.91 and its two-hundred day simple moving average is $17.07. 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 issued its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $244.32 million for the quarter, compared to analysts' expectations of $239.32 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business's quarterly revenue was up 18.7% on a year-over-year basis. Research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Analyst Ratings Changes

ACAD has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price objective for the company. StockNews.com lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Monday, May 12th. UBS Group decreased their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a report on Monday, April 28th. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $24.70.

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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