Profund Advisors LLC Has $2.06 Million Position in ACADIA Pharmaceuticals Inc. $ACAD

Profund Advisors LLC grew its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 67.9% during the 4th quarter, HoldingsChannel reports. The firm owned 77,073 shares of the biopharmaceutical company’s stock after acquiring an additional 31,160 shares during the quarter. Profund Advisors LLC’s holdings in ACADIA Pharmaceuticals were worth $2,059,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of ACADIA Pharmaceuticals by 16.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,798,134 shares of the biopharmaceutical company’s stock valued at $59,712,000 after buying an additional 402,534 shares during the period. Braidwell LP bought a new position in ACADIA Pharmaceuticals during the third quarter worth about $50,760,000. Marshall Wace LLP lifted its stake in ACADIA Pharmaceuticals by 19.8% during the third quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock worth $50,339,000 after purchasing an additional 389,170 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in ACADIA Pharmaceuticals by 390.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after purchasing an additional 1,312,426 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in shares of ACADIA Pharmaceuticals by 5.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,547,103 shares of the biopharmaceutical company’s stock valued at $41,493,000 after acquiring an additional 84,055 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $20.48 on Wednesday. The firm’s 50-day moving average is $21.76 and its 200-day moving average is $23.88. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 25.05 and a beta of 0.86. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $268.10 million during the quarter, compared to the consensus estimate of $280.25 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. Sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ACAD shares. Weiss Ratings cut shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Bank of America raised shares of ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, March 25th. Stifel Nicolaus lowered their price target on shares of ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, February 26th. Citizens Jmp lifted their target price on shares of ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Thursday, February 26th. Finally, Royal Bank Of Canada lowered their target price on shares of ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.63.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 3,506 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.79, for a total value of $76,395.74. Following the transaction, the executive vice president owned 66,145 shares in the company, valued at approximately $1,441,299.55. This represents a 5.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 1,332 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $29,024.28. Following the completion of the transaction, the insider owned 29,129 shares in the company, valued at approximately $634,720.91. This trade represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 8,577 shares of company stock worth $188,426. 26.20% of the stock is owned by insiders.

ACADIA Pharmaceuticals 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.