Algert Global LLC Boosts Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Algert Global LLC grew its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 2.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 549,456 shares of the biopharmaceutical company’s stock after purchasing an additional 15,313 shares during the period. Algert Global LLC owned approximately 0.33% of ACADIA Pharmaceuticals worth $8,451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of ACADIA Pharmaceuticals by 2.2% in the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after buying an additional 655 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of ACADIA Pharmaceuticals by 5.6% in the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 778 shares during the last quarter. Covestor Ltd increased its stake in shares of ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 840 shares during the last quarter. Quest Partners LLC increased its stake in shares of ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 1,047 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ACADIA Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 1,066 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ACAD. Cantor Fitzgerald decreased their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Citigroup decreased their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. UBS Group decreased their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $25.56.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,073 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the transaction, the insider now owns 19,863 shares of the company’s stock, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark C. Schneyer sold 10,259 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $172,453.79. Following the completion of the transaction, the chief financial officer now directly owns 53,302 shares in the company, valued at approximately $896,006.62. This represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $16.37 on Friday. The stock’s fifty day simple moving average is $15.61 and its 200 day simple moving average is $15.99. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 20.99 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. ACADIA Pharmaceuticals’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.40) EPS. On average, research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.72 earnings per share for the current year.

ACADIA Pharmaceuticals Company Profile

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.