Point72 Hong Kong Ltd Takes $441,000 Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Point72 Hong Kong Ltd bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 24,054 shares of the biopharmaceutical company's stock, valued at approximately $441,000.

Other institutional investors also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth $47,000. KBC Group NV boosted its position in shares of ACADIA Pharmaceuticals by 67.0% during the 4th 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 in the last quarter. Globeflex Capital L P purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth $168,000. Xponance Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth $186,000. Finally, Vinva Investment Management Ltd purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth $187,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 3,498 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $14.60, for a total transaction of $51,070.80. Following the completion of the transaction, the executive vice president now owns 62,773 shares of the company's stock, valued at $916,485.80. This represents a 5.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the transaction, the director now directly owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This represents a 21.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,994 shares of company stock valued at $453,131. 26.50% of the stock is owned by insiders.

ACADIA Pharmaceuticals Stock Performance

ACAD stock traded down $0.05 during trading on Thursday, hitting $21.80. The stock had a trading volume of 627,616 shares, compared to its average volume of 1,932,078. The company's 50 day moving average price is $16.20 and its two-hundred day moving average price is $17.22. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $25.23. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 27.90 and a beta of 0.47.

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

Analysts Set New Price Targets

Several equities research analysts have commented on ACAD shares. Royal Bank of Canada restated an "outperform" rating and set a $26.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday. Mizuho boosted their target price on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday. Needham & Company LLC boosted their price objective on shares of ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday. 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 research report on Monday. Finally, BMO Capital Markets boosted their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.83.

ACADIA Pharmaceuticals 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.