M&G Investment Management Ltd. Invests $10.35 Million in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

M&G Investment Management Ltd. purchased a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 333,824 shares of the biopharmaceutical company's stock, valued at approximately $10,349,000. M&G Investment Management Ltd. owned 0.20% of ACADIA Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Handelsbanken Fonder AB raised its position in shares of ACADIA Pharmaceuticals by 2.3% in the fourth quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company's stock worth $990,000 after buying an additional 700 shares in the last quarter. Phocas Financial Corp. increased its holdings in shares of ACADIA Pharmaceuticals by 1.9% in the fourth quarter. Phocas Financial Corp. now owns 66,957 shares of the biopharmaceutical company's stock worth $2,096,000 after buying an additional 1,266 shares during the period. Alps Advisors Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 1.1% in the third quarter. Alps Advisors Inc. now owns 120,810 shares of the biopharmaceutical company's stock worth $2,518,000 after buying an additional 1,274 shares during the period. Raymond James & Associates increased its holdings in shares of ACADIA Pharmaceuticals by 18.1% in the third quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company's stock worth $221,000 after buying an additional 1,630 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company's stock worth $88,000 after buying an additional 2,070 shares during the period. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Trading Up 1.7 %

Shares of ACADIA Pharmaceuticals stock traded up $0.26 on Wednesday, reaching $15.12. 2,331,386 shares of the stock were exchanged, compared to its average volume of 1,805,907. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.72 and a 1-year high of $33.99. The business has a fifty day moving average price of $17.81 and a two-hundred day moving average price of $22.96. The firm has a market capitalization of $2.50 billion, a PE ratio of -1,510.49 and a beta of 0.42.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.06. The company had revenue of $205.83 million for the quarter, compared to the consensus estimate of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The company's revenue for the quarter was up 73.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. Research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.55 EPS for the current year.

Insider Buying and Selling

In related news, CEO Stephen Davis sold 5,577 shares of the firm's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the sale, the chief executive officer now directly owns 101,890 shares of the company's stock, valued at approximately $2,513,626.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Stephen Davis sold 5,577 shares of the firm's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now directly owns 101,890 shares in the company, valued at approximately $2,513,626.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark C. Schneyer sold 3,503 shares of the firm's stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $59,340.82. Following the transaction, the chief financial officer now directly owns 32,053 shares in the company, valued at approximately $542,977.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,116 shares of company stock valued at $1,625,639. Insiders own 27.50% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Bank of America cut their price objective on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a "neutral" rating on the stock in a research report on Friday, May 10th. TheStreet raised ACADIA Pharmaceuticals from a "d" rating to a "c" rating in a report on Tuesday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, May 9th. Oppenheimer restated a "market perform" rating and set a $19.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, May 6th. Finally, HC Wainwright lowered their price target on shares of ACADIA Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating for the company in a report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $28.94.

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.