GSA Capital Partners LLP Makes New Investment in ACADIA Pharmaceuticals Inc. $ACAD

GSA Capital Partners LLP purchased a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 70,484 shares of the biopharmaceutical company’s stock, valued at approximately $1,783,000.

A number of other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of ACADIA Pharmaceuticals in the second quarter worth $446,000. Handelsbanken Fonder AB increased its stake in ACADIA Pharmaceuticals by 11.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 63,133 shares of the biopharmaceutical company’s stock worth $1,597,000 after acquiring an additional 6,400 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in ACADIA Pharmaceuticals by 2.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 103,290 shares of the biopharmaceutical company’s stock worth $2,613,000 after acquiring an additional 2,561 shares during the last quarter. Gradient Investments LLC raised its holdings in shares of ACADIA Pharmaceuticals by 13.3% in the 2nd quarter. Gradient Investments LLC now owns 32,738 shares of the biopharmaceutical company’s stock valued at $828,000 after acquiring an additional 3,838 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of ACADIA Pharmaceuticals by 15.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 402 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $28.24 on Monday. The firm has a market capitalization of $4.87 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 22.24 and a beta of 0.81. The business’s 50-day moving average price is $25.14 and its 200-day moving average price is $23.33. ACADIA Pharmaceuticals Inc. has a 12 month low of $19.69 and a 12 month high of $29.85.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.ACADIA Pharmaceuticals’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $0.16 EPS. As a group, analysts predict that ACADIA Pharmaceuticals Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACAD has been the subject of several recent analyst reports. Oppenheimer boosted their price objective on ACADIA Pharmaceuticals from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their target price on shares of ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Citigroup lifted their target price on shares of ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Stifel Nicolaus boosted their price target 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, Morgan Stanley set a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, August 10th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $33.69.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the completion of the sale, the executive vice president owned 67,828 shares of the company’s stock, valued at approximately $1,981,934.16. The trade was a 17.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,100 shares of company stock worth $1,134,287 over the last ninety days. Insiders own 26.20% of the company’s stock.

About ACADIA Pharmaceuticals

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.