ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Position Increased by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 55.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,928 shares of the biopharmaceutical company's stock after acquiring an additional 53,885 shares during the period. Lazard Asset Management LLC owned 0.09% of ACADIA Pharmaceuticals worth $2,768,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $47,000. KBC Group NV grew its stake in ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after buying an additional 2,044 shares in the last quarter. Globeflex Capital L P purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $168,000. Xponance Inc. purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $186,000. Finally, Vinva Investment Management Ltd purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $187,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD traded down $0.30 during midday trading on Tuesday, hitting $21.69. The company had a trading volume of 2,923,638 shares, compared to its average volume of 1,932,492. The company's 50-day simple moving average is $16.01 and its 200-day simple moving average is $17.16. The firm has a market capitalization of $3.63 billion, a P/E ratio of 27.81 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company's revenue for the quarter was up 18.7% compared to the same quarter last year. Equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Activity

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 owns 17,595 shares in the company, valued at $320,756.85. This trade represents a 21.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 2,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $25.00, for a total value of $50,000.00. Following the transaction, the executive vice president now directly owns 62,130 shares in the company, valued at approximately $1,553,250. This represents a 3.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,994 shares of company stock worth $453,131 over the last three months. 26.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ACAD shares. Royal Bank of Canada restated an "outperform" rating and issued a $26.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday. Morgan Stanley boosted 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. Robert W. Baird boosted their price objective on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday. Mizuho boosted their price objective on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Oppenheimer reiterated a "market perform" rating on shares of ACADIA Pharmaceuticals in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.75.

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.