ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stake Raised by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 19.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 194,599 shares of the biopharmaceutical company’s stock after acquiring an additional 31,980 shares during the quarter. Fisher Asset Management LLC owned about 0.12% of ACADIA Pharmaceuticals worth $2,993,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in shares of ACADIA Pharmaceuticals by 12.3% in the first quarter. Russell Investments Group Ltd. now owns 20,689 shares of the biopharmaceutical company’s stock worth $383,000 after buying an additional 2,264 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 73.1% in the first quarter. Advisors Asset Management Inc. now owns 14,256 shares of the biopharmaceutical company’s stock worth $264,000 after buying an additional 6,019 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 208.6% in the first quarter. Lazard Asset Management LLC now owns 26,213 shares of the biopharmaceutical company’s stock worth $483,000 after buying an additional 17,719 shares during the period. Virtu Financial LLC acquired a new position in shares of ACADIA Pharmaceuticals in the first quarter worth about $285,000. Finally, Verity Asset Management Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the first quarter worth about $216,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insider Activity at ACADIA Pharmaceuticals

In related news, CFO Mark C. Schneyer sold 10,259 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the transaction, the chief financial officer now owns 53,302 shares in the company, valued at approximately $896,006.62. This represents a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brendan Teehan sold 10,329 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $173,630.49. Following the completion of the sale, the chief operating officer now owns 62,105 shares in the company, valued at $1,043,985.05. The trade was a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,661 shares of company stock worth $414,551. 28.30% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $16.29 on Friday. The stock has a 50 day simple moving average of $15.62 and a 200 day simple moving average of $15.99. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $32.59. The firm has a market capitalization of $2.71 billion, a PE ratio of 20.88 and a beta of 0.38.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ACAD shares. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. 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 research report on Thursday, August 8th. Royal Bank of Canada reduced their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. UBS Group reduced their price target on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

About ACADIA Pharmaceuticals

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.