Cubist Systematic Strategies LLC Has $10.83 Million Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Cubist Systematic Strategies LLC increased its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 47.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 666,578 shares of the biopharmaceutical company’s stock after purchasing an additional 215,060 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.40% of ACADIA Pharmaceuticals worth $10,832,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $39,000. Covestor Ltd raised its holdings in shares of ACADIA Pharmaceuticals by 70.5% during the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares during the period. Headlands Technologies LLC acquired a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at about $48,000. Acadian Asset Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $111,000. Finally, Shell Asset Management Co. grew its stake in shares of ACADIA Pharmaceuticals by 65.7% in the 1st quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 2,909 shares during the period. 96.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on ACAD shares. UBS Group cut their price target on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Morgan Stanley cut ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. Needham & Company LLC dropped their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.56.

Insider Buying and Selling

In other news, CEO Stephen Davis sold 31,747 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares in the company, valued at approximately $2,850,560.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Brendan Teehan sold 9,534 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen Davis sold 31,747 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at $2,850,560.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,014 shares of company stock valued at $779,494. 28.30% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Trading Down 3.3 %

Shares of ACAD opened at $15.32 on Thursday. The stock has a 50 day moving average of $16.66 and a 200 day moving average of $16.67. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -1,530.47, a PEG ratio of 0.55 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.55 and a 12 month high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $241.96 million during the quarter, compared to analyst estimates of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The business’s revenue was up 46.4% compared to the same quarter last year. During the same period last year, the firm posted $0.01 EPS. As a group, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current year.

ACADIA Pharmaceuticals 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.