Dimensional Fund Advisors LP Increases Stake in ACADIA Pharmaceuticals Inc. $ACAD

Dimensional Fund Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 8.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 3,155,160 shares of the biopharmaceutical company’s stock after buying an additional 234,186 shares during the period. Dimensional Fund Advisors LP’s holdings in ACADIA Pharmaceuticals were worth $70,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $40,266,000. Millennium Management LLC raised its stake in shares of ACADIA Pharmaceuticals by 2,052.1% in the third quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock valued at $31,652,000 after acquiring an additional 1,414,315 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of ACADIA Pharmaceuticals by 390.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock valued at $35,187,000 after acquiring an additional 1,312,426 shares in the last quarter. Logos Global Management LP purchased a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $22,704,000. Finally, Frazier Life Sciences Management L.P. boosted its holdings in ACADIA Pharmaceuticals by 111.3% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 1,297,198 shares of the biopharmaceutical company’s stock valued at $34,648,000 after purchasing an additional 683,361 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ACAD shares. Stifel Nicolaus boosted their target price on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. HC Wainwright cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Citigroup boosted their price objective on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Royal Bank Of Canada upped their target price on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, BMO Capital Markets raised their target price on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.31.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the sale, the executive vice president owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark C. Schneyer sold 3,506 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the sale, the executive vice president directly owned 66,145 shares in the company, valued at $1,441,299.55. This trade represents a 5.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 26,797 shares of company stock valued at $652,474. 26.20% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Trading Down 2.6%

Shares of ACAD stock opened at $25.87 on Friday. The firm has a fifty day moving average price of $23.74 and a 200 day moving average price of $23.23. The company has a market cap of $4.43 billion, a P/E ratio of 11.76, a PEG ratio of 18.41 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a 12 month low of $19.69 and a 12 month high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results 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 business had revenue of $268.10 million during the quarter, compared to analysts’ expectations of $280.25 million. During the same period last year, the company earned $0.11 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current year.

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.