Intech Investment Management LLC Takes Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Intech Investment Management LLC purchased a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 37,683 shares of the biopharmaceutical company’s stock, valued at approximately $580,000.

Other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its position in shares of ACADIA Pharmaceuticals by 431.1% in the second quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock valued at $45,083,000 after acquiring an additional 2,251,940 shares in the last quarter. Millennium Management LLC raised its stake in ACADIA Pharmaceuticals by 36.2% in the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock valued at $47,738,000 after purchasing an additional 781,070 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at $10,550,000. Fred Alger Management LLC boosted its stake in ACADIA Pharmaceuticals by 19.8% during the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock worth $43,947,000 after purchasing an additional 446,875 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of ACADIA Pharmaceuticals by 419.8% during the third quarter. SG Americas Securities LLC now owns 517,124 shares of the biopharmaceutical company’s stock worth $7,953,000 after buying an additional 417,648 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the sale, the chief financial officer now directly owns 53,302 shares in the company, valued at approximately $896,006.62. This represents a 16.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 4,073 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the transaction, the insider now owns 19,863 shares of the company’s stock, valued at $333,897.03. This represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock valued at $414,551 in the last 90 days. Company insiders own 28.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ACAD shares. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald lowered their price objective on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, UBS Group cut their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Trading Up 0.2 %

ACAD stock opened at $16.32 on Monday. The business’s fifty day moving average price is $15.61 and its 200 day moving average price is $16.01. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $32.59. The company has a market capitalization of $2.72 billion, a PE ratio of 20.92 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. During the same period in the prior year, the firm earned ($0.40) earnings per share. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. Research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current fiscal year.

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.