Y Intercept Hong Kong Ltd Takes Position in ACADIA Pharmaceuticals Inc. $ACAD

Y Intercept Hong Kong Ltd bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 1st quarter, Holdings Channel reports. The fund bought 25,664 shares of the biopharmaceutical company’s stock, valued at approximately $571,000.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its position in ACADIA Pharmaceuticals by 9.0% during the 4th quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock valued at $211,296,000 after purchasing an additional 655,257 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ACADIA Pharmaceuticals by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock worth $86,539,000 after buying an additional 106,807 shares during the period. Dimensional Fund Advisors LP grew its position in shares of ACADIA Pharmaceuticals by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,920,974 shares of the biopharmaceutical company’s stock worth $78,019,000 after buying an additional 122,840 shares during the last quarter. Marshall Wace LLP grew its position in shares of ACADIA Pharmaceuticals by 19.8% in the 3rd 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 last quarter. Finally, First Trust Advisors LP increased its stake in shares of ACADIA Pharmaceuticals by 16.8% during the fourth quarter. First Trust Advisors LP now owns 2,270,034 shares of the biopharmaceutical company’s stock valued at $60,633,000 after buying an additional 326,882 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings downgraded ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Citigroup lifted their price target on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, June 29th. HC Wainwright downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Bank of America upped their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada raised their target price on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Twelve equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.94.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD opened at $25.50 on Tuesday. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $28.35. The firm has a market capitalization of $4.37 billion, a P/E ratio of 11.59, a P/E/G ratio of 18.89 and a beta of 0.80. The stock has a 50 day moving average price of $22.63 and a 200-day moving average price of $23.34.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $268.10 million for the quarter, compared to the consensus estimate of $280.25 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 earnings per share. On average, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.37 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 5,401 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the sale, the insider directly owned 24,509 shares of the company’s stock, valued at $519,100.62. This represents a 18.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 3,506 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the transaction, the executive vice president owned 66,145 shares of the company’s stock, valued at approximately $1,441,299.55. The trade was a 5.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,239 shares of company stock valued at $219,813 in the last three months. Insiders own 26.20% of the company’s stock.

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.