Algert Global LLC Purchases 15,313 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Algert Global LLC lifted its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 549,456 shares of the biopharmaceutical company’s stock after acquiring an additional 15,313 shares during the quarter. Algert Global LLC’s holdings in ACADIA Pharmaceuticals were worth $8,451,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

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

Analyst Ratings Changes

ACAD has been the subject of several recent research reports. Morgan Stanley cut ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Citigroup lowered their price objective on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald lowered their price objective on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals Stock Up 1.2 %

Shares of NASDAQ:ACAD opened at $16.37 on Friday. The firm has a market cap of $2.72 billion, a P/E ratio of 20.99 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $32.59. The business has a fifty day simple moving average of $15.61 and a 200 day simple moving average of $15.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. ACADIA Pharmaceuticals’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the company earned ($0.40) EPS. 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.