Hudson Bay Capital Management LP Has $4.10 Million Position in ACADIA Pharmaceuticals Inc. $ACAD

Hudson Bay Capital Management LP lessened its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 38.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 190,000 shares of the biopharmaceutical company’s stock after selling 120,950 shares during the quarter. Hudson Bay Capital Management LP’s holdings in ACADIA Pharmaceuticals were worth $4,098,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company’s stock valued at $252,526,000 after acquiring an additional 1,255,594 shares in the last quarter. Geode Capital Management LLC boosted its position in ACADIA Pharmaceuticals by 2.4% during the second quarter. Geode Capital Management LLC now owns 3,024,097 shares of the biopharmaceutical company’s stock valued at $65,238,000 after purchasing an additional 69,584 shares during the last quarter. Fred Alger Management LLC grew its stake in ACADIA Pharmaceuticals by 2.0% in the first quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company’s stock valued at $46,007,000 after purchasing an additional 54,899 shares in the last quarter. First Trust Advisors LP grew its stake in ACADIA Pharmaceuticals by 2.8% in the second quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock valued at $52,509,000 after purchasing an additional 65,914 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in ACADIA Pharmaceuticals by 73.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,977,432 shares of the biopharmaceutical company’s stock worth $32,845,000 after purchasing an additional 838,728 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. TD Cowen lifted their price target on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Mizuho raised their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Needham & Company LLC boosted their target price on shares of ACADIA Pharmaceuticals from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $29.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 25th. Finally, Cowen reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.95.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD opened at $27.26 on Tuesday. The stock’s 50-day moving average is $23.37 and its 200-day moving average is $23.26. The company has a market cap of $4.61 billion, a P/E ratio of 17.59, a P/E/G ratio of 7.30 and a beta of 0.67. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $27.73.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.28. The firm had revenue of $278.63 million during the quarter, compared to the consensus estimate of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insider Activity

In other news, insider James Kihara sold 4,084 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $96,749.96. Following the sale, the insider owned 25,058 shares in the company, valued at approximately $593,624.02. This trade represents a 14.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 10,262 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total transaction of $243,106.78. Following the transaction, the executive vice president directly owned 53,338 shares in the company, valued at $1,263,577.22. This trade represents a 16.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 44,346 shares of company stock valued at $1,010,957. 28.30% of the stock is owned by company insiders.

About ACADIA Pharmaceuticals

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.