ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 14.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 27,256 shares of the biopharmaceutical company’s stock after buying an additional 3,389 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ACADIA Pharmaceuticals were worth $453,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in ACADIA Pharmaceuticals during the 1st quarter valued at about $29,000. Virtus Fund Advisers LLC acquired a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $39,000. GF Fund Management CO. LTD. acquired a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $64,000. GAMMA Investing LLC boosted its stake in ACADIA Pharmaceuticals by 627.3% during the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company’s stock valued at $58,000 after purchasing an additional 3,030 shares during the period. Finally, CWM LLC boosted its stake in ACADIA Pharmaceuticals by 50.1% during the 1st quarter. CWM LLC now owns 5,845 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 1,951 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $24.40 on Friday. The company’s 50 day simple moving average is $22.32 and its 200 day simple moving average is $19.21. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $25.23. The company has a market capitalization of $4.08 billion, a P/E ratio of 18.35, a PEG ratio of 6.64 and a beta of 0.70.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 15.38%. The business had revenue of $264.57 million for the quarter, compared to the consensus estimate of $263.07 million. During the same period in the previous year, the firm earned $0.20 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ACAD shares. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. JMP Securities boosted their target price on shares of ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday. Morgan Stanley set a $24.00 target price on shares of ACADIA Pharmaceuticals and gave the company an “equal weight” rating in a research note on Tuesday, May 20th. Wall Street Zen raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Finally, Cantor Fitzgerald upgraded shares of ACADIA Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.71.

Insider Buying and Selling

In related news, insider James Kihara sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.50, for a total value of $90,000.00. Following the sale, the insider directly owned 20,395 shares in the company, valued at $458,887.50. The trade was a 16.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Schneyer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the sale, the executive vice president owned 62,130 shares in the company, valued at $1,553,250. The trade was a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,446 shares of company stock worth $454,634 in the last ninety days. 26.50% of the stock is currently 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.