Advisors Asset Management Inc. Purchases 2,499 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Advisors Asset Management Inc. lifted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 13.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 21,087 shares of the biopharmaceutical company’s stock after purchasing an additional 2,499 shares during the period. Advisors Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Park Place Capital Corp bought a new position in ACADIA Pharmaceuticals in the 3rd quarter worth $25,000. Values First Advisors Inc. acquired a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at about $27,000. Quest Partners LLC increased its stake in shares of ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the period. Stonepine Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter worth about $81,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in ACADIA Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 1,066 shares during the period. 96.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACAD has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. UBS Group dropped their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Citigroup reduced their price target on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the sale, the insider now owns 19,863 shares in the company, valued at approximately $333,897.03. This trade represents a 17.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the transaction, the chief financial officer now owns 53,302 shares in the company, valued at $896,006.62. The trade was a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Stock Up 0.5 %

Shares of ACAD stock opened at $16.29 on Friday. The company has a market capitalization of $2.71 billion, a P/E ratio of 20.88 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $32.59. The firm has a 50-day moving average price of $15.62 and a 200 day moving average price of $15.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. ACADIA Pharmaceuticals’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.40) earnings per share. As a group, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.72 earnings per share for the current 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.