ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Purchased by Parkwood LLC

Parkwood LLC boosted its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,464 shares of the biopharmaceutical company’s stock after acquiring an additional 2,116 shares during the period. Parkwood LLC’s holdings in ACADIA Pharmaceuticals were worth $703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. RTW Investments LP grew its position in shares of ACADIA Pharmaceuticals by 18.3% in the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after purchasing an additional 1,793,288 shares during the last quarter. Fred Alger Management LLC grew its holdings in ACADIA Pharmaceuticals by 38.7% during the 3rd quarter. Fred Alger Management LLC now owns 3,108,883 shares of the biopharmaceutical company’s stock worth $64,789,000 after acquiring an additional 867,818 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals by 9.1% in the 4th quarter. First Trust Advisors LP now owns 1,777,307 shares of the biopharmaceutical company’s stock valued at $55,647,000 after buying an additional 148,526 shares during the period. Norges Bank bought a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $45,187,000. Finally, Northern Trust Corp raised its position in shares of ACADIA Pharmaceuticals by 4.9% during the 3rd quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock worth $25,439,000 after buying an additional 57,555 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD traded down $0.28 during trading hours on Thursday, hitting $15.09. The company had a trading volume of 1,675,520 shares, compared to its average volume of 1,752,424. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.55 and a 52 week high of $33.99. The firm has a 50 day simple moving average of $16.16 and a 200 day simple moving average of $21.90. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -1,507.49 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results 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. The firm had revenue of $205.83 million during the quarter, compared to the consensus estimate of $208.31 million. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The company’s revenue for the quarter was up 73.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.27) EPS. On average, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.58 earnings per share for the current year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 11,427 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $193,573.38. Following the transaction, the chief executive officer now directly owns 155,231 shares of the company’s stock, valued at approximately $2,629,613.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider James Kihara sold 1,790 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares of the company’s stock, valued at $234,097. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen Davis sold 11,427 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $193,573.38. Following the completion of the transaction, 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. Insiders sold 82,644 shares of company stock worth $1,456,342 in the last quarter. 28.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACAD. JPMorgan Chase & Co. dropped their target price on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. TheStreet raised shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. Citigroup dropped their price objective on shares of ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Mizuho lowered their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Morgan Stanley lowered their price objective 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. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $28.94.

ACADIA Pharmaceuticals Company 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.