ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Purchased by Amalgamated Bank

Amalgamated Bank increased its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 757.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,002 shares of the biopharmaceutical company’s stock after acquiring an additional 30,921 shares during the quarter. Amalgamated Bank’s holdings in ACADIA Pharmaceuticals were worth $581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACAD. Exchange Traded Concepts LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at approximately $29,000. Virtus Fund Advisers LLC bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $39,000. GAMMA Investing LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 627.3% in the first quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company’s stock valued at $58,000 after acquiring an additional 3,030 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $64,000. Finally, Globeflex Capital L P bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $168,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Oppenheimer reiterated a “market perform” rating and issued a $22.00 price objective (up from $19.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. UBS Group decreased their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. increased their price objective on shares of ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, June 6th. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Finally, Royal Bank Of Canada raised their target price on shares of ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, June 23rd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.88.

ACADIA Pharmaceuticals Stock Up 2.3%

ACAD stock opened at $22.06 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $25.23. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 4.65 and a beta of 0.64. The company has a 50 day moving average of $20.81 and a two-hundred day moving average of $18.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released 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. The business had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. ACADIA Pharmaceuticals’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. On average, research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insider Activity

In other news, EVP Mark C. Schneyer sold 3,498 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $14.60, for a total transaction of $51,070.80. Following the transaction, the executive vice president owned 62,773 shares in the company, valued at approximately $916,485.80. This trade represents a 5.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Kihara sold 4,000 shares of the firm’s 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 transaction, the insider owned 20,395 shares in the company, valued at $458,887.50. This represents a 16.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,271 shares of company stock worth $525,079. 26.50% of the stock is owned by corporate insiders.

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.