Hussman Strategic Advisors Inc. Purchases Shares of 126,000 ACADIA Pharmaceuticals Inc. $ACAD

Hussman Strategic Advisors Inc. acquired a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 126,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,689,000. Hussman Strategic Advisors Inc. owned about 0.07% of ACADIA Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in ACADIA Pharmaceuticals by 113.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 756 shares in the last quarter. USA Financial Formulas acquired a new position in ACADIA Pharmaceuticals during the 3rd quarter worth about $41,000. GAMMA Investing LLC boosted its holdings in ACADIA Pharmaceuticals by 25.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after acquiring an additional 690 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in ACADIA Pharmaceuticals by 15.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,465 shares of the biopharmaceutical company’s stock valued at $139,000 after acquiring an additional 884 shares in the last quarter. Finally, Advyzon Investment Management LLC acquired a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at about $206,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ACAD. Citigroup increased their price target on shares of ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, January 11th. Stifel Nicolaus set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Royal Bank Of Canada cut their price objective on ACADIA Pharmaceuticals from $34.00 to $32.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.16.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $26.20 on Wednesday. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $28.35. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 6.58 and a beta of 0.68. The business has a 50-day moving average of $26.35 and a two-hundred day moving average of $24.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.28. The business had revenue of $278.63 million for the quarter, compared to analyst estimates of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. As a group, equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Activity

In other news, insider James Kihara sold 4,084 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $96,749.96. Following the completion of the transaction, the insider owned 25,058 shares in the company, valued at approximately $593,624.02. This represents a 14.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James M. Daly sold 30,000 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, November 10th. The stock was sold at an average price of $22.37, for a total transaction of $671,100.00. Following the sale, the director owned 4,041 shares in the company, valued at $90,397.17. This represents a 88.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 44,346 shares of company stock worth $1,010,957. Corporate insiders own 28.30% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.