ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,553 shares of the biopharmaceutical company’s stock after purchasing an additional 2,184 shares during the period. DekaBank Deutsche Girozentrale’s holdings in ACADIA Pharmaceuticals were worth $2,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Legal & General Group Plc raised its position in shares of ACADIA Pharmaceuticals by 0.5% in the third quarter. Legal & General Group Plc now owns 115,494 shares of the biopharmaceutical company’s stock worth $2,407,000 after acquiring an additional 574 shares during the period. Amalgamated Bank raised its position in shares of ACADIA Pharmaceuticals by 3.2% in the fourth quarter. Amalgamated Bank now owns 19,880 shares of the biopharmaceutical company’s stock worth $316,000 after acquiring an additional 622 shares during the period. Rhumbline Advisers raised its position in shares of ACADIA Pharmaceuticals by 0.5% in the first quarter. Rhumbline Advisers now owns 173,799 shares of the biopharmaceutical company’s stock worth $3,271,000 after acquiring an additional 917 shares during the period. Lazard Asset Management LLC raised its position in shares of ACADIA Pharmaceuticals by 35.8% in the second quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock worth $98,000 after acquiring an additional 1,088 shares during the period. Finally, Alps Advisors Inc. raised its position in shares of ACADIA Pharmaceuticals by 1.1% in the third quarter. Alps Advisors Inc. now owns 120,810 shares of the biopharmaceutical company’s stock worth $2,518,000 after acquiring an additional 1,274 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $17.14 on Friday. The firm has a 50 day simple moving average of $21.70 and a 200-day simple moving average of $23.91. ACADIA Pharmaceuticals Inc. has a 1-year low of $16.85 and a 1-year high of $33.99. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -45.10 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The firm had revenue of $231.04 million during the quarter, compared to analysts’ expectations of $223.79 million. During the same period last year, the company earned ($0.26) EPS. The business’s quarterly revenue was up 69.3% on a year-over-year basis. Equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ACAD. JPMorgan Chase & Co. reduced their price target on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. JMP Securities restated a “market outperform” rating and set a $42.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. Stifel Nicolaus upped their price target on shares of ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, December 18th. Mizuho downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $39.00 to $25.00 in a research report on Tuesday, March 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $32.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.82.

Insider Activity

In other news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the completion of the sale, the chief executive officer now owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider James Kihara sold 1,790 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $31,987.30. Following the completion of the transaction, the insider now owns 13,100 shares of the company’s stock, valued at approximately $234,097. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen Davis sold 5,577 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the transaction, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The disclosure for this sale can be found here. Insiders sold a total of 69,383 shares of company stock valued at $1,291,362 in the last 90 days. Company insiders own 27.50% of the company’s stock.

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.