Landscape Capital Management L.L.C. Takes $255,000 Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Landscape Capital Management L.L.C. acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,562 shares of the biopharmaceutical company’s stock, valued at approximately $255,000.

Other large investors have also made changes to their positions in the company. Millennium Management LLC boosted its holdings in ACADIA Pharmaceuticals by 36.2% during the second quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock worth $47,738,000 after buying an additional 781,070 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in ACADIA Pharmaceuticals by 11.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock worth $47,693,000 after buying an additional 292,906 shares in the last quarter. Marshall Wace LLP boosted its holdings in ACADIA Pharmaceuticals by 431.1% during the second quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock worth $45,083,000 after buying an additional 2,251,940 shares in the last quarter. Fred Alger Management LLC boosted its holdings in ACADIA Pharmaceuticals by 19.8% during the second quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock worth $43,947,000 after buying an additional 446,875 shares in the last quarter. Finally, Emerald Advisers LLC boosted its holdings in ACADIA Pharmaceuticals by 2.7% during the third quarter. Emerald Advisers LLC now owns 830,829 shares of the biopharmaceutical company’s stock worth $12,778,000 after buying an additional 21,998 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In related news, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the completion of the sale, the chief financial officer now owns 53,302 shares of the company’s stock, valued at approximately $896,006.62. This represents a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider James Kihara sold 4,073 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the sale, the insider now directly owns 19,863 shares of the company’s stock, valued at $333,897.03. This represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACAD. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada lowered their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Stock Up 1.0 %

Shares of NASDAQ ACAD opened at $16.54 on Tuesday. The firm has a 50-day simple moving average of $15.61 and a 200-day simple moving average of $15.97. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 21.21 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $248.83 million. During the same period in the prior year, the business earned ($0.40) earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.72 EPS for the current year.

ACADIA Pharmaceuticals Company 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.