Jupiter Asset Management Ltd. Purchases 229,324 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Jupiter Asset Management Ltd. lifted its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 56.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 636,375 shares of the biopharmaceutical company’s stock after acquiring an additional 229,324 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in ACADIA Pharmaceuticals were worth $13,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACAD. Maryland State Retirement & Pension System raised its position in ACADIA Pharmaceuticals by 1.3% in the second quarter. Maryland State Retirement & Pension System now owns 36,397 shares of the biopharmaceutical company’s stock valued at $785,000 after purchasing an additional 476 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 1.7% in the second quarter. Yousif Capital Management LLC now owns 46,773 shares of the biopharmaceutical company’s stock valued at $1,009,000 after buying an additional 790 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in ACADIA Pharmaceuticals by 15.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,465 shares of the biopharmaceutical company’s stock valued at $139,000 after buying an additional 884 shares during the last quarter. Bank of Montreal Can boosted its position in ACADIA Pharmaceuticals by 3.9% during the 2nd quarter. Bank of Montreal Can now owns 33,421 shares of the biopharmaceutical company’s stock worth $721,000 after buying an additional 1,248 shares during the period. Finally, Xponance Inc. grew its holdings in ACADIA Pharmaceuticals by 14.1% during the 1st quarter. Xponance Inc. now owns 11,585 shares of the biopharmaceutical company’s stock worth $192,000 after acquiring an additional 1,434 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

Insider Activity at ACADIA Pharmaceuticals

In other news, Director James M. Daly sold 30,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $22.37, for a total transaction of $671,100.00. Following the transaction, the director owned 4,041 shares in the company, valued at approximately $90,397.17. This represents a 88.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark C. Schneyer sold 22,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the transaction, the executive vice president directly owned 40,130 shares in the company, valued at $1,010,473.40. This trade represents a 35.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 57,098 shares of company stock worth $1,349,356 in the last quarter. Company insiders own 28.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ACAD. TD Cowen raised their price target on shares of ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Weiss Ratings restated a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a report on Tuesday, October 14th. UBS Group lifted their target price on ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. JMP Securities upped their price target on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft set a $29.00 price target on ACADIA Pharmaceuticals in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.94.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $24.13 on Thursday. The stock’s 50-day moving average is $22.48 and its 200 day moving average is $22.13. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $26.65. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 7.90 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.28. The firm had revenue of $278.63 million for the quarter, compared to analyst estimates of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The company’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share. ACADIA Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

ACADIA Pharmaceuticals 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.