Wipfli Financial Advisors LLC Makes New $33,000 Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Wipfli Financial Advisors LLC purchased a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,009 shares of the biopharmaceutical company’s stock, valued at approximately $33,000.

A number of other institutional investors have also recently made changes to their positions in ACAD. Raymond James Financial Services Advisors Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at about $572,000. HighTower Advisors LLC purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at about $1,077,000. MetLife Investment Management LLC grew its position in shares of ACADIA Pharmaceuticals by 54.0% during the first quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock valued at $1,607,000 after purchasing an additional 23,265 shares in the last quarter. Rhumbline Advisers grew its position in shares of ACADIA Pharmaceuticals by 3.9% during the first quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock valued at $3,232,000 after purchasing an additional 5,011 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at about $1,380,000. Hedge funds and other institutional investors own 92.79% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $17.97 on Thursday. The company has a market capitalization of $2.91 billion, a PE ratio of -13.31 and a beta of 0.58. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $28.06. The company has a 50 day moving average price of $15.87 and a 200-day moving average price of $16.05.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $130.70 million during the quarter, compared to the consensus estimate of $139.04 million. ACADIA Pharmaceuticals had a negative net margin of 42.49% and a negative return on equity of 47.09%. ACADIA Pharmaceuticals’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. On average, analysts forecast that ACADIA Pharmaceuticals Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Stephen Davis sold 3,904 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $17.13, for a total value of $66,875.52. Following the completion of the transaction, the chief executive officer now owns 84,633 shares of the company’s stock, valued at $1,449,763.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 3,904 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, January 9th. The shares were sold at an average price of $17.13, for a total value of $66,875.52. Following the transaction, the chief executive officer now directly owns 84,633 shares of the company’s stock, valued at $1,449,763.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura Brege sold 12,500 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $18.25, for a total transaction of $228,125.00. The disclosure for this sale can be found here. Insiders sold 19,372 shares of company stock valued at $342,038 over the last 90 days. Corporate insiders own 28.40% of the company’s stock.

Wall Street Analysts Forecast Growth

ACAD has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, October 18th. Loop Capital initiated coverage on ACADIA Pharmaceuticals in a research report on Tuesday, November 1st. They issued a “hold” rating and a $17.00 price target for the company. Royal Bank of Canada dropped their price target on ACADIA Pharmaceuticals from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, December 1st. Finally, The Goldman Sachs Group downgraded shares of ACADIA Pharmaceuticals from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $15.00 to $12.00 in a research note on Thursday, November 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.44.

ACADIA Pharmaceuticals Company Profile

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ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

Further Reading

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

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