TD Asset Management Inc Takes $971,000 Position in ACADIA Pharmaceuticals Inc. $ACAD

TD Asset Management Inc acquired a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the second quarter, HoldingsChannel reports. The fund acquired 45,000 shares of the biopharmaceutical company’s stock, valued at approximately $971,000.

A number of other large investors have also recently made changes to their positions in ACAD. American Century Companies Inc. lifted its position in shares of ACADIA Pharmaceuticals by 1,055.8% during the 1st quarter. American Century Companies Inc. now owns 1,632,749 shares of the biopharmaceutical company’s stock valued at $27,120,000 after buying an additional 1,491,484 shares in the last quarter. Nuveen LLC purchased a new position in ACADIA Pharmaceuticals in the 1st quarter worth approximately $21,630,000. Vanguard Group Inc. lifted its holdings in ACADIA Pharmaceuticals by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company’s stock worth $252,526,000 after purchasing an additional 1,255,594 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in ACADIA Pharmaceuticals by 73.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,977,432 shares of the biopharmaceutical company’s stock worth $32,845,000 after purchasing an additional 838,728 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in ACADIA Pharmaceuticals by 425.2% in the 1st quarter. Principal Financial Group Inc. now owns 754,748 shares of the biopharmaceutical company’s stock worth $12,536,000 after purchasing an additional 611,054 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Up 0.6%

Shares of ACADIA Pharmaceuticals stock opened at $21.39 on Thursday. The stock’s fifty day moving average is $23.37 and its two-hundred day moving average is $21.20. The company has a market capitalization of $3.61 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 7.48 and a beta of 0.75. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $264.57 million for the quarter, compared to the consensus estimate of $263.07 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.ACADIA Pharmaceuticals’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 EPS. As a group, research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on ACAD. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Citigroup began coverage on ACADIA Pharmaceuticals in a report on Tuesday. They issued a “buy” rating and a $33.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on ACADIA Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, September 29th. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on ACADIA Pharmaceuticals in a research note on Thursday, September 25th. Finally, Oppenheimer reaffirmed a “market perform” rating and issued a $22.00 price objective (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.33.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 1,600 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total transaction of $41,568.00. Following the completion of the sale, the director directly owned 25,382 shares in the company, valued at $659,424.36. This represents a 5.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mark C. Schneyer sold 3,498 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $23.65, for a total value of $82,727.70. Following the sale, the executive vice president owned 43,447 shares of the company’s stock, valued at $1,027,521.55. This trade represents a 7.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,098 shares of company stock valued at $678,256 over the last quarter. Company insiders own 26.50% of the company’s stock.

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.