Algert Global LLC Has $8.54 Million Stake in ACADIA Pharmaceuticals Inc. $ACAD

Algert Global LLC raised its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 653.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 400,109 shares of the biopharmaceutical company’s stock after acquiring an additional 347,017 shares during the period. Algert Global LLC owned about 0.24% of ACADIA Pharmaceuticals worth $8,538,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP boosted its stake in shares of ACADIA Pharmaceuticals by 496.2% in the 2nd quarter. Marshall Wace LLP now owns 1,969,711 shares of the biopharmaceutical company’s stock valued at $42,487,000 after purchasing an additional 1,639,315 shares in the last quarter. Norges Bank acquired a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth about $31,679,000. Arrowstreet Capital Limited Partnership increased its position in shares of ACADIA Pharmaceuticals by 390.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after purchasing an additional 1,312,426 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $13,024,000. Finally, Candriam S.C.A. bought a new position in ACADIA Pharmaceuticals during the 3rd quarter valued at about $11,472,000. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Trading Up 3.8%

Shares of NASDAQ ACAD opened at $21.39 on Tuesday. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $28.35. The firm’s 50-day moving average is $24.42 and its 200-day moving average is $24.19. The firm has a market capitalization of $3.65 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 20.49 and a beta of 0.66.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $1.48. ACADIA Pharmaceuticals had a net margin of 36.49% and a return on equity of 12.49%. The business had revenue of $298.00 million during the quarter, compared to the consensus estimate of $292.54 million. During the same period in the previous year, the firm posted $0.86 earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on ACAD shares. Wall Street Zen cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. HC Wainwright reiterated a “buy” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 3rd. UBS Group boosted their target price on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Piper Sandler set a $37.00 price target on ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.21.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Jennifer J. Rhodes sold 6,950 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $23.38, for a total value of $162,491.00. Following the transaction, the executive vice president owned 7,609 shares of the company’s stock, valued at approximately $177,898.42. This represents a 47.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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.