Pictet Asset Management Holding SA Buys 84,055 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Pictet Asset Management Holding SA raised its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,547,103 shares of the biopharmaceutical company’s stock after purchasing an additional 84,055 shares during the quarter. Pictet Asset Management Holding SA’s holdings in ACADIA Pharmaceuticals were worth $41,493,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ACAD. Royal Bank of Canada lifted its stake in ACADIA Pharmaceuticals by 74.4% during the 1st quarter. Royal Bank of Canada now owns 80,528 shares of the biopharmaceutical company’s stock valued at $1,338,000 after acquiring an additional 34,352 shares during the period. AQR Capital Management LLC lifted its holdings in ACADIA Pharmaceuticals by 3.8% in the first quarter. AQR Capital Management LLC now owns 67,672 shares of the biopharmaceutical company’s stock valued at $1,124,000 after acquiring an additional 2,492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ACADIA Pharmaceuticals by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,952 shares of the biopharmaceutical company’s stock valued at $1,498,000 after acquiring an additional 6,303 shares during the period. Empowered Funds LLC bought a new position in ACADIA Pharmaceuticals in the first quarter valued at about $186,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in ACADIA Pharmaceuticals by 14.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company’s stock valued at $4,170,000 after acquiring an additional 31,931 shares during the period. Institutional investors own 96.71% of the company’s stock.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Jennifer J. Rhodes sold 6,950 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $23.38, for a total value of $162,491.00. Following the sale, the executive vice president owned 7,609 shares of the company’s stock, valued at $177,898.42. The trade was a 47.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 2,709 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $22.20, for a total value of $60,139.80. Following the completion of the sale, the executive vice president directly owned 62,836 shares in the company, valued at approximately $1,394,959.20. The trade was a 4.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 10,689 shares of company stock worth $245,497. Corporate insiders own 28.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ACAD. Stifel Nicolaus lowered their target price on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. increased their target price on ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Wolfe Research began coverage on ACADIA Pharmaceuticals in a report on Monday, February 23rd. They issued an “outperform” rating and a $33.00 target price on the stock. Oppenheimer reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Friday, February 6th. Finally, Citizens Jmp increased their target price on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $31.21.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $22.20 on Thursday. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 23.31 and a beta of 0.83. ACADIA Pharmaceuticals Inc. has a one year low of $14.18 and a one year high of $28.35. The company’s fifty day moving average price is $22.23 and its 200-day moving average price is $23.84.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $1.48. The firm had revenue of $298.00 million for the quarter, compared to analysts’ expectations of $292.54 million. ACADIA Pharmaceuticals had a net margin of 36.49% and a return on equity of 12.49%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.45 earnings per share for the current fiscal year.

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.