ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 52.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 628,016 shares of the biopharmaceutical company's stock after purchasing an additional 214,747 shares during the quarter. The Manufacturers Life Insurance Company owned 0.38% of ACADIA Pharmaceuticals worth $11,524,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $47,000. KBC Group NV increased its holdings in ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after acquiring an additional 2,044 shares in the last quarter. Globeflex Capital L P acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth $168,000. Xponance Inc. purchased a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $186,000. Finally, Vinva Investment Management Ltd acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $187,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Up 3.0 %

NASDAQ:ACAD traded up $0.51 on Friday, hitting $17.44. The stock had a trading volume of 2,854,983 shares, compared to its average volume of 1,855,937. The company has a fifty day moving average price of $15.83 and a two-hundred day moving average price of $16.96. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $20.68. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 22.36 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $239.32 million. During the same period in the prior year, the business posted $0.10 earnings per share. The firm's revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 2,708 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total value of $40,132.56. Following the sale, the executive vice president now owns 59,456 shares of the company's stock, valued at $881,137.92. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals 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 sale, the director now directly owns 17,595 shares of the company's stock, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,994 shares of company stock worth $313,131. Company insiders own 26.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a "hold" rating and a $22.00 target price for the company. 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. HC Wainwright reissued a "buy" rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.45.

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.