ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Acquired by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC lifted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,638 shares of the biopharmaceutical company’s stock after buying an additional 4,172 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in ACADIA Pharmaceuticals were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ACAD. Point72 Asset Management L.P. acquired a new position in ACADIA Pharmaceuticals in the fourth quarter worth $40,935,000. SG Americas Securities LLC boosted its holdings in ACADIA Pharmaceuticals by 380.3% in the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the period. Norges Bank acquired a new position in ACADIA Pharmaceuticals in the fourth quarter worth $25,555,000. Renaissance Technologies LLC boosted its holdings in ACADIA Pharmaceuticals by 204.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company’s stock worth $22,507,000 after purchasing an additional 823,333 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in ACADIA Pharmaceuticals in the fourth quarter worth $11,643,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Up 26.5%

Shares of NASDAQ ACAD opened at $22.26 on Friday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $25.23. The firm’s 50-day simple moving average is $15.91 and its 200 day simple moving average is $17.09. The stock has a market cap of $3.73 billion, a P/E ratio of 28.54 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $244.32 million for the quarter, compared to analysts’ expectations of $239.32 million. During the same period in the previous year, the business earned $0.10 earnings per share. The company’s revenue was up 18.7% on a year-over-year basis. On average, sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 3,498 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $14.60, for a total transaction of $51,070.80. Following the completion of the sale, the executive vice president now owns 62,773 shares in the company, valued at approximately $916,485.80. This trade represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,994 shares of company stock worth $313,131. 26.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target for the company. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 8th. Finally, UBS Group reduced their price target on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, April 28th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.70.

About ACADIA Pharmaceuticals

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.