Choreo LLC Purchases Shares of 23,186 ACADIA Pharmaceuticals Inc. $ACAD

Choreo LLC purchased a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 23,186 shares of the biopharmaceutical company’s stock, valued at approximately $619,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $264,000. Allspring Global Investments Holdings LLC grew its stake in ACADIA Pharmaceuticals by 25.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 658,813 shares of the biopharmaceutical company’s stock valued at $17,320,000 after purchasing an additional 133,393 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in ACADIA Pharmaceuticals by 161.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,149 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 3,795 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in ACADIA Pharmaceuticals by 4.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 13,192 shares of the biopharmaceutical company’s stock valued at $352,000 after purchasing an additional 512 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in ACADIA Pharmaceuticals by 5.8% in the fourth quarter. SG Americas Securities LLC now owns 41,965 shares of the biopharmaceutical company’s stock valued at $1,121,000 after purchasing an additional 2,285 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $22.17 on Friday. The firm has a 50-day moving average of $22.29 and a 200-day moving average of $23.77. The stock has a market cap of $3.78 billion, a PE ratio of 9.68, a P/E/G ratio of 22.21 and a beta of 0.83. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.08 and a 52-week high of $28.35.

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

Insider Buying and Selling

In other news, EVP Mark C. Schneyer sold 2,709 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $22.20, for a total transaction of $60,139.80. Following the transaction, the executive vice president owned 62,836 shares in the company, valued at approximately $1,394,959.20. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jennifer J. Rhodes sold 6,950 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $177,898.42. This trade represents a 47.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 10,689 shares of company stock worth $245,497. 26.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wolfe Research assumed coverage on ACADIA Pharmaceuticals in a research note on Monday, February 23rd. They issued an “outperform” rating and a $33.00 price target for the company. Wall Street Zen downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. TD Cowen raised their price target on ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Citizens Jmp increased their price target on shares of ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.21.

ACADIA Pharmaceuticals 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.