ACADIA Pharmaceuticals Inc. $ACAD Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. lifted its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 21,126.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,498 shares of the biopharmaceutical company’s stock after buying an additional 149,789 shares during the period. Bessemer Group Inc. owned approximately 0.09% of ACADIA Pharmaceuticals worth $3,350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its stake in ACADIA Pharmaceuticals by 44.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 954,855 shares of the biopharmaceutical company’s stock valued at $21,312,000 after acquiring an additional 296,042 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of ACADIA Pharmaceuticals by 12.7% during the first quarter. Illinois Municipal Retirement Fund now owns 71,183 shares of the biopharmaceutical company’s stock worth $1,585,000 after purchasing an additional 7,996 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of ACADIA Pharmaceuticals by 30.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,923 shares of the biopharmaceutical company’s stock worth $288,000 after purchasing an additional 3,026 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of ACADIA Pharmaceuticals by 3.1% during the first quarter. Principal Financial Group Inc. now owns 768,224 shares of the biopharmaceutical company’s stock worth $17,101,000 after purchasing an additional 22,868 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of ACADIA Pharmaceuticals by 5,053.5% in the 1st quarter. Fifth Third Bancorp now owns 31,694 shares of the biopharmaceutical company’s stock valued at $706,000 after purchasing an additional 31,079 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 5,401 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the completion of the sale, the insider directly owned 24,509 shares of the company’s stock, valued at $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the transaction, the executive vice president owned 66,145 shares in the company, valued at approximately $1,441,299.55. This trade represents a 5.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,239 shares of company stock valued at $219,813 in the last 90 days. Company insiders own 26.20% of the company’s stock.

ACADIA Pharmaceuticals Stock Up 1.4%

NASDAQ ACAD opened at $25.43 on Wednesday. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $28.35. The business’s 50-day moving average price is $23.05 and its 200 day moving average price is $23.27. The firm has a market cap of $4.35 billion, a P/E ratio of 11.56, a P/E/G ratio of 18.07 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The company had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ACAD. Weiss Ratings cut ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. HC Wainwright lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada boosted their price objective on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Citigroup increased their price objective on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, June 29th. Finally, BMO Capital Markets raised their target price on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday. Thirteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.17.

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.