ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Acquired by Xponance Inc.

Xponance Inc. increased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,585 shares of the biopharmaceutical company’s stock after buying an additional 1,434 shares during the quarter. Xponance Inc.’s holdings in ACADIA Pharmaceuticals were worth $192,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. lifted its holdings in shares of ACADIA Pharmaceuticals by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 4,260 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 766 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock valued at $230,000 after buying an additional 795 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at $29,000. Arete Wealth Advisors LLC lifted its holdings in shares of 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 period. Finally, Virtus Fund Advisers LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $22.56 on Monday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $25.23. The stock’s 50-day moving average is $21.58 and its two-hundred day moving average is $18.67. The firm has a market cap of $3.78 billion, a P/E ratio of 16.47, a PEG ratio of 4.86 and a beta of 0.64.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The company had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue was up 18.7% compared to the same quarter last year. As a group, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ACAD shares. Royal Bank Of Canada boosted their target price on ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, June 23rd. Wall Street Zen raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. Oppenheimer reaffirmed a “market perform” rating and set a $22.00 target price (up from $19.00) on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Cantor Fitzgerald raised ACADIA Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, June 5th. Finally, Mizuho upped their price target on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.88.

Insider Activity

In other news, insider James Kihara sold 4,000 shares of the stock in a transaction dated Friday, May 16th. The stock was 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 of the company’s stock, valued at approximately $458,887.50. This represents a 16.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark C. Schneyer sold 3,498 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $14.60, for a total value of $51,070.80. Following the transaction, the executive vice president directly owned 62,773 shares in the company, valued at approximately $916,485.80. This represents a 5.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,271 shares of company stock valued at $525,079. Insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Company 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.