ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 291.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,979 shares of the biopharmaceutical company’s stock after buying an additional 39,460 shares during the period. Mackenzie Financial Corp’s holdings in ACADIA Pharmaceuticals were worth $1,659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. RTW Investments LP grew its position in ACADIA Pharmaceuticals by 18.3% in the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after buying an additional 1,793,288 shares during the last quarter. Fred Alger Management LLC grew its position in ACADIA Pharmaceuticals by 38.7% in the 3rd quarter. Fred Alger Management LLC now owns 3,108,883 shares of the biopharmaceutical company’s stock valued at $64,789,000 after buying an additional 867,818 shares during the last quarter. Emerald Advisers LLC grew its position in ACADIA Pharmaceuticals by 4.0% in the 3rd quarter. Emerald Advisers LLC now owns 1,681,052 shares of the biopharmaceutical company’s stock valued at $35,033,000 after buying an additional 64,100 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its position in ACADIA Pharmaceuticals by 1.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,303,988 shares of the biopharmaceutical company’s stock valued at $27,175,000 after buying an additional 12,894 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in ACADIA Pharmaceuticals by 0.4% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,276,216 shares of the biopharmaceutical company’s stock valued at $26,596,000 after buying an additional 4,932 shares during the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 26,574 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $474,877.38. Following the completion of the transaction, the chief executive officer now owns 144,267 shares of the company’s stock, valued at approximately $2,578,051.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Mark C. Schneyer sold 5,434 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $97,268.60. Following the completion of the transaction, the chief financial officer now owns 26,183 shares of the company’s stock, valued at approximately $468,675.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Davis sold 26,574 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $474,877.38. Following the completion of the transaction, the chief executive officer now directly owns 144,267 shares of the company’s stock, valued at approximately $2,578,051.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,383 shares of company stock valued at $1,291,362. 27.50% of the stock is owned by insiders.

ACADIA Pharmaceuticals Stock Down 1.5 %

ACADIA Pharmaceuticals stock opened at $16.74 on Wednesday. ACADIA Pharmaceuticals Inc. has a 52 week low of $16.60 and a 52 week high of $33.99. The firm’s 50-day simple moving average is $20.64 and its 200 day simple moving average is $23.72. The firm has a market capitalization of $2.76 billion, a PE ratio of -44.05 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The firm had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. During the same period in the previous year, the firm posted ($0.26) EPS. The company’s revenue for the quarter was up 69.3% compared to the same quarter last year. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Mizuho lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $39.00 to $25.00 in a research report on Tuesday, March 12th. TheStreet upgraded shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. Robert W. Baird initiated coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, January 30th. They set an “outperform” rating and a $40.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 9th. Finally, JMP Securities restated a “market outperform” rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

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.