Concurrent Investment Advisors LLC Invests $247,000 in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Concurrent Investment Advisors LLC purchased a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,881 shares of the biopharmaceutical company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACAD. Victory Capital Management Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 66.9% during the 4th quarter. Victory Capital Management Inc. now owns 162,125 shares of the biopharmaceutical company’s stock worth $2,975,000 after buying an additional 64,995 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $272,000. Raymond James Financial Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $664,000. AlphaQuest LLC boosted its position in shares of ACADIA Pharmaceuticals by 283.8% during the 4th quarter. AlphaQuest LLC now owns 13,511 shares of the biopharmaceutical company’s stock worth $248,000 after purchasing an additional 9,991 shares during the period. Finally, Swiss National Bank boosted its position in shares of ACADIA Pharmaceuticals by 1.4% during the 4th quarter. Swiss National Bank now owns 212,104 shares of the biopharmaceutical company’s stock worth $3,892,000 after purchasing an additional 2,900 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insider Transactions at ACADIA Pharmaceuticals

In other news, Director Laura Brege sold 14,446 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the sale, the director directly owned 15,095 shares of the company’s stock, valued at approximately $328,769.10. The trade was a 48.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 4,000 shares of ACADIA Pharmaceuticals stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.50, for a total transaction of $90,000.00. Following the sale, the insider owned 20,395 shares in the company, valued at $458,887.50. This represents a 16.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,271 shares of company stock valued at $525,079. Insiders own 26.50% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 4.9%

ACADIA Pharmaceuticals stock opened at $20.98 on Friday. The stock has a market cap of $3.51 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 4.52 and a beta of 0.64. The company has a fifty day simple moving average of $20.93 and a 200-day simple moving average of $18.51. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $244.32 million during the quarter, compared to analysts’ expectations of $239.32 million. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. As a group, sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America increased their price objective on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, June 5th. Wall Street Zen raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price objective on shares of ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, June 6th. UBS Group lowered their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Finally, Royal Bank Of Canada increased their price objective on shares of ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, June 23rd. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.88.

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.