Point72 Asia Singapore Pte. Ltd. Invests $311,000 in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Point72 Asia Singapore Pte. Ltd. bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 16,974 shares of the biopharmaceutical company's stock, valued at approximately $311,000.

Other hedge funds have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. boosted its stake in shares of ACADIA Pharmaceuticals by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company's stock worth $230,000 after buying an additional 795 shares during the last quarter. Arete Wealth Advisors LLC lifted its holdings in ACADIA Pharmaceuticals by 15.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company's stock valued at $251,000 after acquiring an additional 1,875 shares during the period. KBC Group NV boosted its position in ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after purchasing an additional 2,044 shares during the last quarter. R Squared Ltd bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $47,000. Finally, MetLife Investment Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 3.8% during the 4th quarter. MetLife Investment Management LLC now owns 73,048 shares of the biopharmaceutical company's stock valued at $1,340,000 after purchasing an additional 2,669 shares during the period. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the transaction, the executive vice president now owns 62,130 shares in the company, valued at $1,553,250. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,994 shares of company stock valued at $453,131. 26.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ACAD shares. Needham & Company LLC raised their price objective on shares of ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Monday. Royal Bank of Canada reiterated an "outperform" rating and set a $26.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday. HC Wainwright boosted their price objective on shares of ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the company a "buy" rating in a research report on Monday. Robert W. Baird lifted their target price on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.83.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD traded up $0.07 during mid-day trading on Wednesday, reaching $21.76. The company's stock had a trading volume of 1,302,475 shares, compared to its average volume of 1,931,418. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $25.23. The stock has a fifty day moving average of $16.11 and a two-hundred day moving average of $17.19. The firm has a market capitalization of $3.64 billion, a PE ratio of 28.00 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping 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 company had revenue of $244.32 million for the quarter, compared to analysts' expectations of $239.32 million. During the same period in the previous year, the firm earned $0.10 EPS. The firm's revenue was up 18.7% compared to the same quarter last year. Analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

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.