Mirae Asset Global Investments Co. Ltd. Raises Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Mirae Asset Global Investments Co. Ltd. increased its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,780 shares of the biopharmaceutical company’s stock after acquiring an additional 4,442 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.05% of ACADIA Pharmaceuticals worth $2,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its holdings in ACADIA Pharmaceuticals by 35.8% in the 2nd quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock worth $98,000 after acquiring an additional 1,088 shares in the last quarter. 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 valued at $88,000 after acquiring an additional 2,070 shares during the last quarter. State of Wyoming acquired a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at about $111,000. Point72 Hong Kong Ltd boosted its position in shares of ACADIA Pharmaceuticals by 664.7% during the 1st quarter. Point72 Hong Kong Ltd now owns 6,003 shares of the biopharmaceutical company’s stock valued at $145,000 after acquiring an additional 5,218 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

ACAD has been the topic of several recent research reports. TheStreet raised shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Royal Bank of Canada lowered their price target on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley decreased their target price on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Insider Buying and Selling

In related news, CFO Mark C. Schneyer sold 2,716 shares of the company’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 transaction of $48,534.92. Following the sale, the chief financial officer now directly owns 28,742 shares in the company, valued at $513,619.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mark C. Schneyer sold 2,716 shares of the company’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 transaction of $48,534.92. Following the sale, the chief financial officer now directly owns 28,742 shares in the company, valued at $513,619.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen Davis sold 26,574 shares of the company’s 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 sale, the chief executive officer now owns 144,267 shares in the company, valued at $2,578,051.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,383 shares of company stock worth $1,291,362. Company insiders own 27.50% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $17.07 on Friday. The stock has a market capitalization of $2.81 billion, a PE ratio of -44.92 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a 1 year low of $16.60 and a 1 year high of $33.99. The company’s 50-day simple moving average is $21.03 and its 200-day simple moving average is $23.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. During the same period in the prior year, the company posted ($0.26) EPS. The firm’s revenue for the quarter was up 69.3% compared to the same quarter last year. On average, sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share 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.