ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stake Lifted by Northern Trust Corp

Northern Trust Corp boosted its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,232,366 shares of the biopharmaceutical company's stock after buying an additional 106,236 shares during the period. Northern Trust Corp owned 0.74% of ACADIA Pharmaceuticals worth $22,614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of ACADIA Pharmaceuticals by 52.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 628,016 shares of the biopharmaceutical company's stock worth $11,524,000 after acquiring an additional 214,747 shares during the period. Aquatic Capital Management LLC acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth approximately $922,000. Oxford Asset Management LLP purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth approximately $219,000. Nebula Research & Development LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 38.2% in the 4th quarter. Nebula Research & Development LLC now owns 50,037 shares of the biopharmaceutical company's stock valued at $918,000 after purchasing an additional 13,841 shares during the last quarter. Finally, Alpine Global Management LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $1,020,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD traded up $4.66 during midday trading on Friday, reaching $22.26. 17,783,924 shares of the company's stock were exchanged, compared to its average volume of 1,915,430. The business's fifty day moving average price is $15.81 and its two-hundred day moving average price is $17.02. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $25.06. The stock has a market capitalization of $3.72 billion, a PE ratio of 28.54 and a beta of 0.47.

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

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 3,171 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the completion of the transaction, the executive vice president now directly owns 56,889 shares of the company's stock, valued at approximately $969,957.45. The trade was a 5.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the sale, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. This trade represents a 21.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,994 shares of company stock valued at $313,131. Insiders own 26.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ACAD shares. Morgan Stanley reaffirmed an "equal weight" rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Monday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average 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.