Stonepine Capital Management LLC Increases Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Stonepine Capital Management LLC increased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 11.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 220,000 shares of the biopharmaceutical company’s stock after acquiring an additional 23,105 shares during the quarter. ACADIA Pharmaceuticals accounts for approximately 3.3% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Stonepine Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $4,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACAD. Point72 Asset Management L.P. acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $40,935,000. SG Americas Securities LLC boosted its stake in shares of ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock valued at $45,576,000 after buying an additional 1,966,607 shares during the period. Norges Bank purchased a new position in ACADIA Pharmaceuticals in the fourth quarter valued at about $25,555,000. Renaissance Technologies LLC increased its holdings in ACADIA Pharmaceuticals by 204.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company’s stock worth $22,507,000 after buying an additional 823,333 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth $11,643,000. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Trading Up 26.5%

Shares of ACADIA Pharmaceuticals stock opened at $22.26 on Friday. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 28.54 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $25.23. The company’s fifty day simple moving average is $15.91 and its 200-day simple moving average is $17.09.

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 the consensus estimate of $0.10 by $0.01. The company had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. As a group, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 3,171 shares of the firm’s 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 transaction, the executive vice president now directly owns 56,889 shares of the company’s stock, valued at approximately $969,957.45. This trade represents a 5.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now directly owns 17,595 shares in the company, valued at $320,756.85. The trade was a 21.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,994 shares of company stock worth $313,131 over the last three months. Company insiders own 26.50% of the company’s stock.

Analyst Ratings Changes

ACAD has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, StockNews.com downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.70.

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.