GSA Capital Partners LLP Takes Position in ACADIA Pharmaceuticals Inc. $ACAD

GSA Capital Partners LLP bought a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 70,484 shares of the biopharmaceutical company’s stock, valued at approximately $1,783,000.

Several other institutional investors and hedge funds have also bought and sold shares of ACAD. State Street Corp increased its stake in ACADIA Pharmaceuticals by 9.0% in the 4th quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock worth $211,296,000 after purchasing an additional 655,257 shares during the period. First Trust Advisors LP boosted its stake in shares of ACADIA Pharmaceuticals by 47.3% during the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock valued at $74,435,000 after purchasing an additional 1,073,834 shares during the period. Geode Capital Management LLC grew its holdings in shares of ACADIA Pharmaceuticals by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock worth $86,539,000 after purchasing an additional 106,807 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ACADIA Pharmaceuticals by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company’s stock worth $70,222,000 after purchasing an additional 234,186 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of ACADIA Pharmaceuticals by 19.8% in the third quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock worth $50,339,000 after buying an additional 389,170 shares during the period. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $28.24 on Monday. The stock has a market capitalization of $4.87 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 22.24 and a beta of 0.81. The stock’s 50 day moving average price is $25.14 and its 200-day moving average price is $23.33. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $29.85.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $308.00 million during the quarter, compared to analyst estimates of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The firm’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 earnings per share. Research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the sale, the executive vice president owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. The trade was a 46.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the transaction, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. This represents a 17.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 42,100 shares of company stock worth $1,134,287. 26.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Bank of America reissued a “buy” rating and issued a $14.50 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. Morgan Stanley set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, August 10th. Citizens Jmp upped their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. Finally, BMO Capital Markets increased their target price on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.69.

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.