Alpine Global Management LLC Purchases New Shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Alpine Global Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 55,566 shares of the biopharmaceutical company’s stock, valued at approximately $1,020,000.

Other large investors have also added to or reduced their stakes in the company. Virtus Fund Advisers LLC acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at $39,000. R Squared Ltd acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at $47,000. KBC Group NV grew its holdings in ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 2,044 shares in the last quarter. Globeflex Capital L P bought a new position in ACADIA Pharmaceuticals during the 4th quarter valued at $168,000. Finally, Xponance Inc. bought a new position in ACADIA Pharmaceuticals during the 4th quarter valued at $186,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on ACAD shares. UBS Group reduced their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Morgan Stanley increased their price objective on shares of ACADIA Pharmaceuticals from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday. Robert W. Baird increased their price objective on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday. Finally, BMO Capital Markets increased their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.83.

Insider Transactions at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $22.50, for a total value of $90,000.00. Following the transaction, the insider now directly owns 20,395 shares in the company, valued at approximately $458,887.50. This trade represents a 16.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark C. Schneyer sold 3,171 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total transaction of $54,065.55. Following the completion of the sale, the executive vice president now owns 56,889 shares in the company, valued at approximately $969,957.45. This represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,994 shares of company stock worth $453,131. 26.50% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $21.55 on Friday. The firm’s 50-day moving average is $16.29 and its 200-day moving average is $17.27. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $25.23. The company has a market cap of $3.61 billion, a P/E ratio of 27.63 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. During the same period last year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

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.