Janney Montgomery Scott LLC Purchases New Stake in ACADIA Pharmaceuticals Inc. $ACAD

Janney Montgomery Scott LLC acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 23,472 shares of the biopharmaceutical company’s stock, valued at approximately $522,000.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on ACAD. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. Bank of America increased their price target on ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada boosted their price objective on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Weiss Ratings downgraded ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group upped their price objective on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.94.

ACADIA Pharmaceuticals Trading Up 1.7%

NASDAQ ACAD opened at $25.92 on Thursday. The company has a 50-day moving average price of $22.78 and a two-hundred day moving average price of $23.31. ACADIA Pharmaceuticals Inc. has a 52 week low of $19.69 and a 52 week high of $28.35. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 18.36 and a beta of 0.80.

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

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the sale, the executive vice president owned 66,145 shares of the company’s stock, valued at $1,441,299.55. The trade was a 5.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Kihara sold 5,401 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the transaction, the insider owned 24,509 shares of the company’s stock, valued at $519,100.62. This trade represents a 18.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,239 shares of company stock worth $219,813 in the last ninety days. 26.20% of the stock is owned by company insiders.

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.