ACADIA Pharmaceuticals Inc. $ACAD Holdings Raised by Sofinnova Investments Inc.

Sofinnova Investments Inc. boosted its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 144.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,567 shares of the biopharmaceutical company’s stock after buying an additional 38,767 shares during the quarter. Sofinnova Investments Inc.’s holdings in ACADIA Pharmaceuticals were worth $1,751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. lifted its position in ACADIA Pharmaceuticals by 3.7% in the 4th quarter. Panagora Asset Management Inc. now owns 681,102 shares of the biopharmaceutical company’s stock worth $18,192,000 after buying an additional 24,269 shares in the last quarter. MML Investors Services LLC lifted its position in ACADIA Pharmaceuticals by 46.7% in the 4th quarter. MML Investors Services LLC now owns 32,737 shares of the biopharmaceutical company’s stock worth $874,000 after buying an additional 10,426 shares in the last quarter. Mariner LLC lifted its position in ACADIA Pharmaceuticals by 65.0% in the 4th quarter. Mariner LLC now owns 24,157 shares of the biopharmaceutical company’s stock worth $645,000 after buying an additional 9,514 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in ACADIA Pharmaceuticals by 111.3% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 1,297,198 shares of the biopharmaceutical company’s stock worth $34,648,000 after buying an additional 683,361 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter worth approximately $342,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insiders Place Their Bets

In related news, insider James Kihara sold 5,401 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark C. Schneyer sold 3,506 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the transaction, the executive vice president owned 66,145 shares in the company, valued at $1,441,299.55. The trade was a 5.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,978 shares of company stock worth $302,819 over the last quarter. 26.20% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Trading Up 0.8%

ACADIA Pharmaceuticals stock opened at $21.26 on Tuesday. The company has a market capitalization of $3.64 billion, a P/E ratio of 9.66, a P/E/G ratio of 26.48 and a beta of 0.84. The firm’s fifty day simple moving average is $21.74 and its 200-day simple moving average is $23.64. ACADIA Pharmaceuticals Inc. has a 1-year low of $19.69 and a 1-year high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The firm had revenue of $268.10 million during the quarter, compared to analyst estimates of $280.25 million. During the same quarter in the previous year, the business posted $0.11 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ACAD shares. Wolfe Research started coverage on shares of ACADIA Pharmaceuticals in a research report on Monday, February 23rd. They issued an “outperform” rating and a $33.00 target price for the company. Stifel Nicolaus cut their price target on shares of 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. raised their price target on shares of ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Mizuho upgraded shares of ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their price target for the company from $29.00 to $35.00 in a report on Monday, February 23rd. Finally, Royal Bank Of Canada cut their price target on shares of ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.63.

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.