Fisher Asset Management LLC Buys Shares of 143,054 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Fisher Asset Management LLC purchased a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 143,054 shares of the biopharmaceutical company’s stock, valued at approximately $4,479,000.

Other hedge funds have also recently modified their holdings of the company. Handelsbanken Fonder AB raised its position in ACADIA Pharmaceuticals by 2.3% during the 4th quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock worth $990,000 after buying an additional 700 shares during the last quarter. Phocas Financial Corp. increased its position in ACADIA Pharmaceuticals by 1.9% during the 4th quarter. Phocas Financial Corp. now owns 66,957 shares of the biopharmaceutical company’s stock worth $2,096,000 after purchasing an additional 1,266 shares during the period. Alps Advisors Inc. raised its stake in shares of ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Alps Advisors Inc. now owns 120,810 shares of the biopharmaceutical company’s stock worth $2,518,000 after buying an additional 1,274 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of ACADIA Pharmaceuticals by 18.1% in the 3rd quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock valued at $221,000 after buying an additional 1,630 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in ACADIA Pharmaceuticals by 97.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 2,070 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ACAD shares. Morgan Stanley lowered their price target on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 30th. JPMorgan Chase & Co. lowered their price target on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Finally, Mizuho lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their target price for the company from $39.00 to $25.00 in a report on Tuesday, March 12th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $31.75.

Insider Activity at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 3,503 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $59,340.82. Following the transaction, the chief financial officer now directly owns 32,053 shares in the company, valued at approximately $542,977.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares of the company’s stock, valued at $234,097. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark C. Schneyer sold 3,503 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $59,340.82. Following the completion of the sale, the chief financial officer now directly owns 32,053 shares of the company’s stock, valued at approximately $542,977.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,116 shares of company stock worth $1,625,639. 27.50% of the stock is owned by insiders.

ACADIA Pharmaceuticals Price Performance

ACAD opened at $17.25 on Wednesday. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -45.39 and a beta of 0.42. ACADIA Pharmaceuticals Inc. has a 12 month low of $16.16 and a 12 month high of $33.99. The business has a 50-day moving average of $18.79 and a two-hundred day moving average of $23.26.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company had revenue of $231.04 million for the quarter, compared to analysts’ expectations of $223.79 million. During the same period in the prior year, the business earned ($0.26) EPS. The business’s revenue for the quarter was up 69.3% on a year-over-year basis. Equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.62 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.