UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Position in ACADIA Pharmaceuticals Inc. $ACAD

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 12.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 233,329 shares of the biopharmaceutical company’s stock after buying an additional 26,445 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in ACADIA Pharmaceuticals were worth $5,903,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in ACADIA Pharmaceuticals in the second quarter valued at $569,634,000. State Street Corp increased its stake in ACADIA Pharmaceuticals by 9.0% during the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock worth $211,296,000 after acquiring an additional 655,257 shares during the last quarter. First Trust Advisors LP increased its stake in ACADIA Pharmaceuticals by 47.3% during the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock worth $74,435,000 after acquiring an additional 1,073,834 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock worth $86,539,000 after purchasing an additional 106,807 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of ACADIA Pharmaceuticals by 8.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company’s stock worth $70,222,000 after purchasing an additional 234,186 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACAD has been the subject of a number of research reports. Oppenheimer boosted their target price on ACADIA Pharmaceuticals from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. BMO Capital Markets raised their price target 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. HC Wainwright reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 6th. Stifel Nicolaus boosted their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $34.36.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Elizabeth Thompson sold 16,558 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at $496,313.22. This represents a 46.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark C. Schneyer sold 14,292 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.22, for a total value of $417,612.24. Following the sale, the executive vice president owned 67,828 shares of the company’s stock, valued at $1,981,934.16. This represents a 17.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 36,699 shares of company stock valued at $1,019,894. Company insiders own 26.20% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 1.6%

NASDAQ ACAD opened at $27.58 on Wednesday. The stock has a market cap of $4.75 billion, a PE ratio of 12.42 and a beta of 0.86. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $30.96. The business has a 50 day moving average price of $27.40 and a two-hundred day moving average price of $23.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The company had revenue of $308.00 million for the quarter, compared to analyst estimates of $296.55 million. During the same quarter last year, the firm posted $0.16 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. Sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.63 EPS for the current fiscal year.

ACADIA Pharmaceuticals Company Profile

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.