ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Position Increased by Stonepine Capital Management LLC

Stonepine Capital Management LLC raised its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3,837.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 196,895 shares of the biopharmaceutical company’s stock after purchasing an additional 191,895 shares during the period. ACADIA Pharmaceuticals comprises about 1.9% of Stonepine Capital Management LLC’s portfolio, making the stock its 17th largest holding. Stonepine Capital Management LLC owned approximately 0.12% of ACADIA Pharmaceuticals worth $3,028,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in ACADIA Pharmaceuticals by 259.0% during the third quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock valued at $3,439,000 after purchasing an additional 161,331 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of ACADIA Pharmaceuticals during the third quarter worth about $342,000. Fisher Asset Management LLC grew its position in shares of ACADIA Pharmaceuticals by 19.7% during the third quarter. Fisher Asset Management LLC now owns 194,599 shares of the biopharmaceutical company’s stock worth $2,993,000 after acquiring an additional 31,980 shares during the last quarter. Algert Global LLC grew its position in shares of ACADIA Pharmaceuticals by 2.9% during the third quarter. Algert Global LLC now owns 549,456 shares of the biopharmaceutical company’s stock worth $8,451,000 after acquiring an additional 15,313 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of ACADIA Pharmaceuticals during the third quarter worth about $255,000. Institutional investors own 96.71% of the company’s stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 10,329 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $173,630.49. Following the completion of the sale, the chief operating officer now directly owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. This represents a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark C. Schneyer sold 10,259 shares of the stock in a transaction that occurred on 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 directly owns 53,302 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ACAD has been the subject of several recent research reports. Citigroup lowered their price target on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Cantor Fitzgerald lowered their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. UBS Group lowered their price target on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD traded down $0.04 on Wednesday, reaching $16.17. The company’s stock had a trading volume of 142,940 shares, compared to its average volume of 1,666,962. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $32.59. The stock has a market cap of $2.69 billion, a PE ratio of 20.78 and a beta of 0.38. The firm’s 50 day moving average is $15.62 and its two-hundred day moving average is $15.99.

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