ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stake Boosted by Edgestream Partners L.P.

Edgestream Partners L.P. increased its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 141.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,329 shares of the biopharmaceutical company’s stock after purchasing an additional 128,372 shares during the quarter. Edgestream Partners L.P. owned approximately 0.13% of ACADIA Pharmaceuticals worth $3,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. M&G Plc increased its stake in ACADIA Pharmaceuticals by 12.4% in the 2nd quarter. M&G Plc now owns 351,115 shares of the biopharmaceutical company’s stock worth $5,618,000 after purchasing an additional 38,790 shares in the last quarter. Fred Alger Management LLC grew its stake in ACADIA Pharmaceuticals by 19.8% during the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock valued at $43,947,000 after acquiring an additional 446,875 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in ACADIA Pharmaceuticals during the 3rd quarter valued at about $483,000. US Bancorp DE grew its stake in ACADIA Pharmaceuticals by 2,084.0% during the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock valued at $507,000 after acquiring an additional 31,426 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in ACADIA Pharmaceuticals by 67.8% during the 3rd quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock valued at $1,992,000 after acquiring an additional 52,340 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction 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 $896,006.62. The trade was a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 4,073 shares of the company’s stock in a transaction that occurred 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. This trade represents a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,661 shares of company stock worth $414,551 over the last three months. 28.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ACAD. Morgan Stanley cut ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their target price on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $16.32 on Monday. The business has a 50 day moving average price of $15.61 and a 200 day moving average price of $16.01. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $32.59. The firm has a market cap of $2.72 billion, a P/E ratio of 20.92 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. During the same period in the previous year, the company earned ($0.40) EPS. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current fiscal 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.