ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 85,780 shares of the biopharmaceutical company’s stock after purchasing an additional 4,442 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ACADIA Pharmaceuticals were worth $2,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ACAD. Norges Bank purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $31,110,000. RTW Investments LP increased its holdings in shares of ACADIA Pharmaceuticals by 18.3% in the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after acquiring an additional 1,793,288 shares during the last quarter. State Street Corp increased its holdings in shares of ACADIA Pharmaceuticals by 30.4% in the 2nd quarter. State Street Corp now owns 6,593,950 shares of the biopharmaceutical company’s stock valued at $92,909,000 after acquiring an additional 1,536,756 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $17,765,000. Finally, Man Group plc increased its holdings in shares of ACADIA Pharmaceuticals by 4,022.0% in the 4th quarter. Man Group plc now owns 955,688 shares of the biopharmaceutical company’s stock valued at $15,215,000 after acquiring an additional 932,503 shares during the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ACAD shares. Morgan Stanley lowered their price target on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 13th. JMP Securities restated a “market outperform” rating and set a $42.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 7th. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 9th. Finally, Oppenheimer reiterated a “market perform” rating and set a $25.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $35.82.

Insider Activity

In other news, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Brendan Teehan sold 5,140 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $92,006.00. Following the completion of the sale, the chief operating officer now directly owns 36,340 shares of the company’s stock, valued at $650,486. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at $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 over the last three months. Insiders own 27.50% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 0.7 %

Shares of ACADIA Pharmaceuticals stock opened at $17.07 on Friday. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -44.92 and a beta of 0.37. The business has a fifty day simple moving average of $21.03 and a 200-day simple moving average of $23.75. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data 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). The firm had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company’s quarterly revenue was up 69.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.26) EPS. Analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current fiscal year.

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.