Envestnet Asset Management Inc. Raises Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Envestnet Asset Management Inc. increased its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 14.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,642 shares of the biopharmaceutical company’s stock after acquiring an additional 19,975 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of ACADIA Pharmaceuticals worth $3,508,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in ACADIA Pharmaceuticals by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company’s stock worth $252,526,000 after purchasing an additional 1,255,594 shares in the last quarter. Fred Alger Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 2.0% during the 1st quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company’s stock valued at $46,007,000 after purchasing an additional 54,899 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 73.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,977,432 shares of the biopharmaceutical company’s stock valued at $32,845,000 after purchasing an additional 838,728 shares during the period. American Century Companies Inc. boosted its holdings in ACADIA Pharmaceuticals by 1,055.8% during the first quarter. American Century Companies Inc. now owns 1,632,749 shares of the biopharmaceutical company’s stock worth $27,120,000 after buying an additional 1,491,484 shares in the last quarter. Finally, Northern Trust Corp grew its position in ACADIA Pharmaceuticals by 11.6% during the first quarter. Northern Trust Corp now owns 1,375,213 shares of the biopharmaceutical company’s stock valued at $22,842,000 after buying an additional 142,847 shares during the period. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACAD has been the subject of a number of analyst reports. TD Cowen upped their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, September 11th. The Goldman Sachs Group lifted their price target on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the company a “sell” rating in a research note on Thursday, August 7th. Mizuho upped their price target on ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft set a $29.00 price target on ACADIA Pharmaceuticals in a research report on Thursday, September 25th. Finally, Wall Street Zen upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.94.

ACADIA Pharmaceuticals Trading Up 1.6%

ACAD stock opened at $24.02 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $26.65. The business’s 50-day moving average is $22.42 and its 200 day moving average is $22.26. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 7.90 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.28. The business had revenue of $278.63 million for the quarter, compared to the consensus estimate of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 earnings per share. ACADIA Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 1,600 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total transaction of $41,568.00. Following the sale, the director owned 25,382 shares of the company’s stock, valued at $659,424.36. The trade was a 5.93% 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 22,000 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $25.18, for a total transaction of $553,960.00. Following the completion of the sale, the executive vice president owned 40,130 shares of the company’s stock, valued at $1,010,473.40. This trade represents a 35.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 57,098 shares of company stock worth $1,349,356. Corporate insiders own 26.50% of the company’s stock.

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.