Point72 Europe London LLP Takes $3.18 Million Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Point72 Europe London LLP acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 173,155 shares of the biopharmaceutical company's stock, valued at approximately $3,177,000. Point72 Europe London LLP owned about 0.10% of ACADIA Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACAD. R Squared Ltd bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $47,000. KBC Group NV increased its stake in shares of ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after acquiring an additional 2,044 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $168,000. Xponance Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $186,000. Finally, Vinva Investment Management Ltd bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $187,000. 96.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACAD has been the subject of a number of recent analyst reports. UBS Group lowered their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 28th. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.70.

ACADIA Pharmaceuticals Stock Up 26.5%

ACAD traded up $4.66 during trading on Friday, hitting $22.26. The company's stock had a trading volume of 17,783,924 shares, compared to its average volume of 1,918,694. The firm has a market capitalization of $3.73 billion, a P/E ratio of 28.54 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.23. The stock's fifty day moving average price is $15.91 and its 200-day moving average price is $17.09.

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

Insider Activity

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,171 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was 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 owns 56,889 shares in the company, valued at $969,957.45. This represents a 5.28% 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, Director Elizabeth A. Garofalo sold 4,919 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 18,994 shares of company stock worth $313,131 over the last quarter. 26.50% of the stock is currently owned by corporate insiders.

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.