Point72 Hong Kong Ltd Purchases Shares of 24,054 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Point72 Hong Kong Ltd purchased a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 24,054 shares of the biopharmaceutical company’s stock, valued at approximately $441,000.

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

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,171 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total transaction of $54,065.55. Following the completion of the transaction, the executive vice president now owns 56,889 shares in the company, valued at $969,957.45. This trade represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now owns 17,595 shares of the company’s stock, valued at $320,756.85. This trade represents a 21.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,994 shares of company stock worth $313,131 over the last quarter. Company insiders own 26.50% of the company’s stock.

ACADIA Pharmaceuticals Stock Up 26.5%

Shares of ACAD opened at $22.26 on Friday. The stock has a market cap of $3.72 billion, a price-to-earnings 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. The company has a 50-day moving average price of $15.91 and a two-hundred day moving average price of $17.07.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on ACAD. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective for the company. StockNews.com cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.70.

About ACADIA Pharmaceuticals

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.