Lighthouse Investment Partners LLC Purchases Shares of 46,484 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Lighthouse Investment Partners LLC purchased a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACADFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 46,484 shares of the biopharmaceutical company’s stock, valued at approximately $1,455,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RTW Investments LP grew its holdings in ACADIA Pharmaceuticals by 18.3% during the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after purchasing an additional 1,793,288 shares during the period. Norges Bank bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $45,187,000. Fred Alger Management LLC grew its holdings in ACADIA Pharmaceuticals by 38.7% during the third quarter. Fred Alger Management LLC now owns 3,108,883 shares of the biopharmaceutical company’s stock worth $64,789,000 after purchasing an additional 867,818 shares during the period. M&G Investment Management Ltd. bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $10,349,000. Finally, Finepoint Capital LP boosted its holdings in shares of ACADIA Pharmaceuticals by 38.3% during the fourth quarter. Finepoint Capital LP now owns 769,653 shares of the biopharmaceutical company’s stock worth $24,098,000 after acquiring an additional 213,100 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 17,714 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $317,080.60. Following the completion of the sale, the chief executive officer now owns 118,842 shares in the company, valued at approximately $2,127,271.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Mark C. Schneyer sold 5,434 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $97,268.60. Following the completion of the sale, the chief financial officer now owns 26,183 shares in the company, valued at $468,675.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Stephen Davis sold 17,714 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $317,080.60. Following the completion of the transaction, the chief executive officer now owns 118,842 shares in the company, valued at $2,127,271.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,669 shares of company stock valued at $1,441,922. 28.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ACAD has been the subject of a number of research analyst reports. Citigroup reduced their price objective on ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Morgan Stanley dropped their price target on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 13th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th. Stifel Nicolaus dropped their price target on shares of ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.94.

Check Out Our Latest Stock Analysis on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $14.88 on Tuesday. The firm has a fifty day simple moving average of $16.28 and a 200 day simple moving average of $22.00. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.55 and a twelve month high of $33.99.

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

ACADIA Pharmaceuticals 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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