Stonepine Capital Management LLC Has $3.03 Million Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Stonepine Capital Management LLC raised its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3,837.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 196,895 shares of the biopharmaceutical company’s stock after purchasing an additional 191,895 shares during the period. ACADIA Pharmaceuticals accounts for 1.9% of Stonepine Capital Management LLC’s portfolio, making the stock its 17th largest holding. Stonepine Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $3,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACAD. Park Place Capital Corp acquired a new position in ACADIA Pharmaceuticals during the third quarter valued at approximately $25,000. Values First Advisors Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $27,000. Quest Partners LLC boosted its position in shares of ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 1,047 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ACADIA Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 1,066 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $111,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley cut ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. UBS Group reduced their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.56.

Insider Buying and Selling

In related 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 sale, the insider now directly owns 19,863 shares in the company, valued at $333,897.03. This trade represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the chief financial officer now owns 53,302 shares of the company’s stock, valued at approximately $896,006.62. The trade was 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 worth $414,551 over the last three months. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD traded down $0.04 during midday trading 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 fifty-two week low of $14.15 and a fifty-two week high of $32.59. The company has a market capitalization of $2.69 billion, a P/E ratio of 20.78 and a beta of 0.38. The business’s fifty day simple moving average is $15.62 and its 200-day simple moving average is $15.99.

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