Edgestream Partners L.P. Purchases 128,372 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Edgestream Partners L.P. increased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 141.1% during the third quarter, HoldingsChannel.com reports. The firm owned 219,329 shares of the biopharmaceutical company’s stock after buying an additional 128,372 shares during the period. Edgestream Partners L.P.’s holdings in ACADIA Pharmaceuticals were worth $3,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. PDT Partners LLC bought a new stake in shares of ACADIA Pharmaceuticals during the third quarter valued at approximately $203,000. Fred Alger Management LLC grew its position in ACADIA Pharmaceuticals by 17.8% in the third quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock valued at $49,007,000 after acquiring an additional 481,950 shares during the period. Eventide Asset Management LLC bought a new stake in ACADIA Pharmaceuticals in the third quarter valued at $8,882,000. Rockefeller Capital Management L.P. grew its position in ACADIA Pharmaceuticals by 19.5% in the third quarter. Rockefeller Capital Management L.P. now owns 1,139,934 shares of the biopharmaceutical company’s stock valued at $17,532,000 after acquiring an additional 185,684 shares during the period. Finally, Stonepine Capital Management LLC grew its position in ACADIA Pharmaceuticals by 3,837.9% in the third quarter. Stonepine Capital Management LLC now owns 196,895 shares of the biopharmaceutical company’s stock valued at $3,028,000 after acquiring an additional 191,895 shares during the period. 96.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ACAD. Cantor Fitzgerald lowered their price target on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals Stock Up 0.2 %

Shares of ACAD opened at $16.32 on Monday. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $32.59. The firm has a market capitalization of $2.72 billion, a PE ratio of 20.92 and a beta of 0.38. The stock’s fifty day simple moving average is $15.61 and its 200-day simple moving average is $16.01.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. Analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 10,259 shares of the firm’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 sale, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Kihara sold 4,073 shares of the firm’s 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 sale, the insider now directly owns 19,863 shares in the company, valued at approximately $333,897.03. This represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by company insiders.

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.