American Century Companies Inc. Grows Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

American Century Companies Inc. lifted its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 76.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,148 shares of the biopharmaceutical company’s stock after buying an additional 31,762 shares during the period. American Century Companies Inc.’s holdings in ACADIA Pharmaceuticals were worth $1,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACAD. Arizona State Retirement System lifted its stake in ACADIA Pharmaceuticals by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after purchasing an additional 655 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in ACADIA Pharmaceuticals by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 778 shares in the last quarter. Swiss National Bank boosted its stake in ACADIA Pharmaceuticals by 0.4% during the first quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock worth $3,894,000 after buying an additional 800 shares during the last quarter. Franklin Resources Inc. grew its holdings in ACADIA Pharmaceuticals by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock valued at $1,578,000 after buying an additional 803 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 840 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ACAD has been the topic of several recent research reports. Royal Bank of Canada lowered their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. UBS Group dropped their price target on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets assumed coverage on shares of ACADIA Pharmaceuticals in a report on Thursday, June 27th. They set an “outperform” rating and a $31.00 price target for the company. Citigroup decreased their price objective on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 8th. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.56.

Insiders Place Their Bets

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

ACADIA Pharmaceuticals Trading Down 2.0 %

ACAD stock opened at $15.38 on Tuesday. The business’s fifty day moving average price is $16.52 and its 200 day moving average price is $16.54. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.55 and a 12-month high of $32.59. The company has a market capitalization of $2.54 billion, a PE ratio of -1,538.00, a P/E/G ratio of 0.55 and a beta of 0.40.

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