Mackenzie Financial Corp Has $1.66 Million Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Mackenzie Financial Corp increased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 291.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,979 shares of the biopharmaceutical company’s stock after acquiring an additional 39,460 shares during the quarter. Mackenzie Financial Corp’s holdings in ACADIA Pharmaceuticals were worth $1,659,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its stake in shares of ACADIA Pharmaceuticals by 97.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 2,070 shares during the period. Acadian Asset Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at $184,000. Legato Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at $206,000. Raymond James & Associates lifted its stake in shares of ACADIA Pharmaceuticals by 18.1% during the third quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock valued at $221,000 after acquiring an additional 1,630 shares during the period. Finally, First Hawaiian Bank acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at $284,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insider Activity

In other news, CEO Stephen Davis sold 26,574 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $474,877.38. Following the completion of the sale, the chief executive officer now directly owns 144,267 shares of the company’s stock, valued at $2,578,051.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Mark C. Schneyer sold 5,434 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $97,268.60. Following the completion of the sale, the chief financial officer now directly owns 26,183 shares of the company’s stock, valued at $468,675.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen Davis sold 26,574 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $474,877.38. Following the completion of the sale, the chief executive officer now directly owns 144,267 shares of the company’s stock, valued at $2,578,051.29. 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ACAD. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 7th. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. cut their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Finally, StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $35.82.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $16.74 on Wednesday. The stock has a 50 day moving average price of $20.64 and a 200 day moving average price of $23.72. ACADIA Pharmaceuticals Inc. has a 52 week low of $16.60 and a 52 week high of $33.99. The stock has a market capitalization of $2.76 billion, a PE ratio of -44.05 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS 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 company had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. During the same period last year, the company posted ($0.26) earnings per share. The business’s revenue for the quarter was up 69.3% on a year-over-year basis. As a group, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current 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.