577,500 Shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC purchased a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 577,500 shares of the biopharmaceutical company’s stock, valued at approximately $8,882,000.

A number of other hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System lifted its position in ACADIA Pharmaceuticals by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after buying an additional 655 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of ACADIA Pharmaceuticals by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 778 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 1,047 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 1,066 shares during the last quarter. Finally, Park Place Capital Corp bought a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at $25,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

ACADIA Pharmaceuticals Trading Up 0.2 %

Shares of ACAD opened at $16.32 on Friday. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.15 and a 1-year high of $32.59. The firm’s 50-day moving average price is $15.61 and its 200-day moving average price is $15.99. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 20.88 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. During the same period last year, the business posted ($0.40) earnings per share. ACADIA Pharmaceuticals’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Royal Bank of Canada lowered their target price on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley downgraded ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald dropped their price objective on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

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.