Rhumbline Advisers Increases Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Rhumbline Advisers boosted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 100.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 352,716 shares of the biopharmaceutical company’s stock after purchasing an additional 177,188 shares during the period. Rhumbline Advisers owned approximately 0.21% of ACADIA Pharmaceuticals worth $5,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of ACAD. Summit Investment Advisors Inc. lifted its position in shares of ACADIA Pharmaceuticals by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 795 shares during the period. Arete Wealth Advisors LLC boosted its position in ACADIA Pharmaceuticals by 15.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company’s stock valued at $251,000 after buying an additional 1,875 shares during the last quarter. Virtus Fund Advisers LLC purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $39,000. MetLife Investment Management LLC increased its holdings in ACADIA Pharmaceuticals by 3.8% in the 4th quarter. MetLife Investment Management LLC now owns 73,048 shares of the biopharmaceutical company’s stock worth $1,340,000 after buying an additional 2,669 shares during the period. Finally, Bridgefront Capital LLC increased its holdings in ACADIA Pharmaceuticals by 17.5% in the 4th quarter. Bridgefront Capital LLC now owns 18,377 shares of the biopharmaceutical company’s stock worth $337,000 after buying an additional 2,740 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ACAD. UBS Group dropped their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $26.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, May 19th. Needham & Company LLC increased their price target on ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Oppenheimer reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. lifted their price target on ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, June 6th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $26.79.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,000 shares of ACADIA Pharmaceuticals stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the sale, the insider now owns 20,395 shares of the company’s stock, valued at $458,887.50. The trade was a 16.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the sale, the executive vice president now directly owns 56,889 shares of the company’s stock, valued at $969,957.45. The trade was a 5.28% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,273 shares of company stock worth $653,182. 26.50% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $21.74 on Friday. The stock has a market capitalization of $3.64 billion, a PE ratio of 27.87 and a beta of 0.65. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $25.23. The company has a fifty day moving average of $17.87 and a two-hundred day moving average of $17.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. During the same period last year, the company posted $0.10 EPS. ACADIA Pharmaceuticals’s quarterly revenue was up 18.7% compared to the same quarter last year. Research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 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.