Sector Gamma AS Increases Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Sector Gamma AS boosted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,111 shares of the biopharmaceutical company’s stock after acquiring an additional 8,326 shares during the period. ACADIA Pharmaceuticals accounts for approximately 1.4% of Sector Gamma AS’s investment portfolio, making the stock its 24th biggest position. Sector Gamma AS owned about 0.11% of ACADIA Pharmaceuticals worth $5,890,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Handelsbanken Fonder AB grew its stake in shares of ACADIA Pharmaceuticals by 2.3% in the 4th quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock valued at $990,000 after buying an additional 700 shares during the period. Phocas Financial Corp. boosted its position in shares of ACADIA Pharmaceuticals by 1.9% during the 4th quarter. Phocas Financial Corp. now owns 66,957 shares of the biopharmaceutical company’s stock worth $2,096,000 after purchasing an additional 1,266 shares during the period. Alps Advisors Inc. boosted its position in shares of ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Alps Advisors Inc. now owns 120,810 shares of the biopharmaceutical company’s stock worth $2,518,000 after purchasing an additional 1,274 shares during the period. Raymond James & Associates boosted its position in shares of ACADIA Pharmaceuticals by 18.1% during the 3rd quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock worth $221,000 after purchasing an additional 1,630 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of ACADIA Pharmaceuticals by 97.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 2,070 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 26,574 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38. Following the completion of the transaction, the chief executive officer now directly owns 144,267 shares of the company’s stock, valued at approximately $2,578,051.29. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Mark C. Schneyer sold 5,434 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $97,268.60. Following the completion of the transaction, the chief financial officer now directly owns 26,183 shares of the company’s stock, valued at approximately $468,675.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen Davis sold 26,574 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $474,877.38. Following the completion of the transaction, the chief executive officer now directly owns 144,267 shares of the company’s stock, valued at $2,578,051.29. The disclosure for this sale can be found here. In the last three months, insiders sold 69,383 shares of company stock valued at $1,291,362. Corporate insiders own 27.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ACAD. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Morgan Stanley reduced their target price on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, March 13th. Mizuho lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $39.00 to $25.00 in a report on Tuesday, March 12th. Finally, Royal Bank of Canada reduced their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.82.

ACADIA Pharmaceuticals Trading Up 2.5 %

Shares of NASDAQ ACAD traded up $0.40 during trading hours on Friday, reaching $16.71. The stock had a trading volume of 1,168,199 shares, compared to its average volume of 1,346,613. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -43.97 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $16.16 and a fifty-two week high of $33.99. The firm has a 50-day moving average of $19.94 and a 200-day moving average of $23.55.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. During the same period in the previous year, the business posted ($0.26) earnings per share. The firm’s revenue was up 69.3% compared to the same quarter last year. On average, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current year.

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.