ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACADFree Report) by 9.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,777,307 shares of the biopharmaceutical company’s stock after acquiring an additional 148,526 shares during the period. First Trust Advisors LP’s holdings in ACADIA Pharmaceuticals were worth $55,647,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ACAD. Quest Partners LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $39,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $100,000. Acadian Asset Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at $184,000. Legato Capital Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $206,000. Finally, First Hawaiian Bank purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $284,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insider Transactions at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 1,790 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares in the company, valued at $234,097. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider James Kihara sold 1,790 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares in the company, valued at $234,097. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Davis sold 11,427 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $193,573.38. Following the sale, the chief executive officer now directly owns 155,231 shares in the company, valued at $2,629,613.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,669 shares of company stock worth $1,441,922. Company insiders own 28.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ACAD. Morgan Stanley reduced their target price on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 13th. Royal Bank of Canada reduced their target price on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Oppenheimer reaffirmed a “market perform” rating and issued a $19.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, May 6th. Stifel Nicolaus dropped their price target on shares of ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Finally, Mizuho dropped their price target on shares of ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.94.

Check Out Our Latest Stock Report on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $14.89 on Friday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.60 and a fifty-two week high of $33.99. The stock’s 50-day moving average is $16.42 and its two-hundred day moving average is $22.11. The firm has a market cap of $2.46 billion, a P/E ratio of -1,487.51 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. The business had revenue of $205.83 million for the quarter, compared to analyst estimates of $208.31 million. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The firm’s revenue for the quarter was up 73.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.27) earnings per share. On average, equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.58 EPS for the current year.

ACADIA Pharmaceuticals Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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