Tema Etfs LLC Makes New Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Tema Etfs LLC purchased a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 10,596 shares of the biopharmaceutical company’s stock, valued at approximately $194,000.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in ACADIA Pharmaceuticals in the fourth quarter worth approximately $47,000. KBC Group NV grew its position in ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 2,044 shares during the last quarter. Globeflex Capital L P acquired a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $168,000. Xponance Inc. acquired a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $186,000. Finally, Vinva Investment Management Ltd acquired a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $187,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group decreased their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective for the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.70.

Insider Activity at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. The trade was a 21.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark C. Schneyer sold 2,708 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total transaction of $40,132.56. Following the completion of the sale, the executive vice president now directly owns 59,456 shares of the company’s stock, valued at approximately $881,137.92. The trade was a 4.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,994 shares of company stock valued at $313,131. Insiders own 26.50% of the company’s stock.

ACADIA Pharmaceuticals Stock Up 26.5%

Shares of NASDAQ:ACAD opened at $22.26 on Monday. The firm has a fifty day moving average of $15.91 and a two-hundred day moving average of $17.11. The firm has a market capitalization of $3.73 billion, a P/E ratio of 28.54 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. During the same quarter last year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 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.