Xponance Inc. Invests $299,000 in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Xponance Inc. purchased a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,552 shares of the biopharmaceutical company’s stock, valued at approximately $299,000.

Other institutional investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC bought a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $2,206,000. Qube Research & Technologies Ltd lifted its position in ACADIA Pharmaceuticals by 757.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock valued at $4,437,000 after acquiring an additional 188,080 shares in the last quarter. RTW Investments LP lifted its position in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in ACADIA Pharmaceuticals by 9.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company’s stock valued at $22,363,000 after acquiring an additional 91,641 shares in the last quarter. Finally, Northern Trust Corp lifted its position in ACADIA Pharmaceuticals by 4.9% in the 3rd quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock valued at $25,439,000 after acquiring an additional 57,555 shares in the last quarter. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $16.71 on Friday. ACADIA Pharmaceuticals Inc. has a 52 week low of $16.16 and a 52 week high of $33.99. The firm has a market cap of $2.75 billion, a P/E ratio of -43.97 and a beta of 0.37. The firm’s 50-day simple moving average is $19.94 and its 200 day simple moving average is $23.55.

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

Wall Street Analyst Weigh In

ACAD has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Royal Bank of Canada lowered their price target on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Robert W. Baird began coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, January 30th. They issued an “outperform” rating and a $40.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, April 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $35.82.

Insider Activity at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark C. Schneyer sold 5,434 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $97,268.60. Following the completion of the transaction, the chief financial officer now owns 26,183 shares in the company, valued at approximately $468,675.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,383 shares of company stock worth $1,291,362. 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.