Handelsbanken Fonder AB Has $990,000 Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Handelsbanken Fonder AB raised its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,633 shares of the biopharmaceutical company’s stock after buying an additional 700 shares during the period. Handelsbanken Fonder AB’s holdings in ACADIA Pharmaceuticals were worth $990,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ACAD. SG Americas Securities LLC lifted its stake in shares of ACADIA Pharmaceuticals by 1,284.6% in the 3rd quarter. SG Americas Securities LLC now owns 72,455 shares of the biopharmaceutical company’s stock valued at $1,510,000 after acquiring an additional 67,222 shares during the last quarter. Raymond James & Associates boosted 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 purchasing an additional 1,630 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ACADIA Pharmaceuticals by 12.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,405 shares of the biopharmaceutical company’s stock valued at $488,000 after purchasing an additional 2,548 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of ACADIA Pharmaceuticals by 8.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,338 shares of the biopharmaceutical company’s stock worth $1,695,000 after purchasing an additional 6,519 shares during the last quarter. Finally, Emerald Advisers LLC increased its stake in shares of ACADIA Pharmaceuticals by 4.0% in the third quarter. Emerald Advisers LLC now owns 1,681,052 shares of the biopharmaceutical company’s stock valued at $35,033,000 after buying an additional 64,100 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Stephen Davis sold 5,577 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was 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 directly owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark C. Schneyer sold 5,434 shares of the 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 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. Over the last ninety days, insiders sold 69,383 shares of company stock valued at $1,291,362. Corporate insiders own 27.50% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $16.71 on Monday. The company has a market cap of $2.75 billion, a P/E ratio of -43.97 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $16.16 and a fifty-two week high of $33.99. The stock has a 50 day simple moving average of $19.94 and a two-hundred day simple moving average of $23.55.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released 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 company had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business’s revenue was up 69.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.26) EPS. On average, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current year.

Analysts Set New Price Targets

ACAD has been the topic of several recent research reports. Oppenheimer reiterated a “market perform” rating and set a $25.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. TheStreet upgraded shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. JMP Securities restated a “market outperform” rating and issued a $42.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. JPMorgan Chase & Co. lowered their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Three 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.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $32.13.

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.