Y Intercept Hong Kong Ltd Invests $571,000 in ACADIA Pharmaceuticals Inc. $ACAD

Y Intercept Hong Kong Ltd acquired a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 25,664 shares of the biopharmaceutical company’s stock, valued at approximately $571,000.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC lifted its stake in ACADIA Pharmaceuticals by 304.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 1,005 shares during the last quarter. Federated Hermes Inc. lifted its stake in ACADIA Pharmaceuticals by 277.5% during the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $52,000. 96.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ACAD. Royal Bank Of Canada increased their price objective on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. HC Wainwright downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. Canaccord Genuity Group increased their price target on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, Bank of America lifted their price target on shares of ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.94.

ACADIA Pharmaceuticals Trading Down 2.7%

Shares of NASDAQ:ACAD opened at $25.50 on Tuesday. The stock’s 50-day moving average price is $22.63 and its 200-day moving average price is $23.34. ACADIA Pharmaceuticals Inc. has a 12-month low of $19.69 and a 12-month high of $28.35. The stock has a market capitalization of $4.37 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 18.89 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data 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 return on equity of 9.61% and a net margin of 34.30%.The company had revenue of $268.10 million during the quarter, compared to analysts’ expectations of $280.25 million. During the same quarter in the prior year, the firm posted $0.11 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.37 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the transaction, the executive vice president directly owned 66,145 shares of the company’s stock, valued at $1,441,299.55. The trade was a 5.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Kihara sold 5,401 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the sale, the insider owned 24,509 shares of the company’s stock, valued at $519,100.62. The trade was a 18.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 10,239 shares of company stock worth $219,813. 26.20% of the stock is owned by corporate insiders.

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.