The Manufacturers Life Insurance Company Raises Stock Holdings in ACADIA Pharmaceuticals Inc. $ACAD

The Manufacturers Life Insurance Company grew its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 7.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 571,776 shares of the biopharmaceutical company’s stock after acquiring an additional 39,243 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.33% of ACADIA Pharmaceuticals worth $12,728,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in ACADIA Pharmaceuticals by 25.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 658,813 shares of the biopharmaceutical company’s stock worth $17,320,000 after purchasing an additional 133,393 shares during the period. Norges Bank purchased a new position in ACADIA Pharmaceuticals during the 4th quarter worth $40,266,000. Jupiter Asset Management Ltd. increased its stake in ACADIA Pharmaceuticals by 30.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 621,049 shares of the biopharmaceutical company’s stock valued at $16,588,000 after purchasing an additional 144,732 shares during the period. Geode Capital Management LLC raised 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 valued at $86,539,000 after buying an additional 106,807 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of ACADIA Pharmaceuticals by 15.7% in the fourth quarter. UBS Group AG now owns 769,392 shares of the biopharmaceutical company’s stock valued at $20,550,000 after buying an additional 104,546 shares during the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Bank of America reaffirmed a “buy” rating and set a $14.50 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday. Citigroup boosted their target price on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, June 29th. Royal Bank Of Canada upped their price target on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Stifel Nicolaus increased their price target on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday. Thirteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.31.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the sale, the executive vice president owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 5,401 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the sale, the insider owned 24,509 shares in the company, valued at $519,100.62. The trade was a 18.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 26.20% of the stock is owned by insiders.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $25.87 on Monday. ACADIA Pharmaceuticals Inc. has a 52 week low of $19.69 and a 52 week high of $28.35. The company has a 50-day moving average price of $23.74 and a 200 day moving average price of $23.20. The company has a market cap of $4.43 billion, a P/E ratio of 11.76, a PEG ratio of 17.94 and a beta of 0.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $268.10 million for the quarter, compared to analyst estimates of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. Analysts expect that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current year.

ACADIA Pharmaceuticals Profile

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.