Y Intercept Hong Kong Ltd Takes $2.38 Million Position in ACADIA Pharmaceuticals Inc. $ACAD

Y Intercept Hong Kong Ltd acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 111,273 shares of the biopharmaceutical company’s stock, valued at approximately $2,375,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Maryland State Retirement & Pension System increased its stake in ACADIA Pharmaceuticals by 1.3% during the 2nd quarter. Maryland State Retirement & Pension System now owns 36,397 shares of the biopharmaceutical company’s stock worth $785,000 after buying an additional 476 shares during the period. Thrivent Financial for Lutherans increased its position in shares of ACADIA Pharmaceuticals by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company’s stock worth $1,964,000 after acquiring an additional 626 shares during the period. GAMMA Investing LLC raised its stake in shares of ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after acquiring an additional 690 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in ACADIA Pharmaceuticals by 113.0% in the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 756 shares during the period. Finally, Yousif Capital Management LLC grew its stake in ACADIA Pharmaceuticals by 1.7% during the 2nd quarter. Yousif Capital Management LLC now owns 46,773 shares of the biopharmaceutical company’s stock worth $1,009,000 after purchasing an additional 790 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ACAD. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, January 5th. Wall Street Zen upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Royal Bank Of Canada dropped their price target on ACADIA Pharmaceuticals from $34.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Stifel Nicolaus set a $37.00 price objective on ACADIA Pharmaceuticals in a report on Tuesday, December 16th. Finally, Citigroup raised their target price on shares of ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.16.

Insider Activity at ACADIA Pharmaceuticals

In other news, Director James M. Daly sold 30,000 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $22.37, for a total transaction of $671,100.00. Following the completion of the transaction, the director directly owned 4,041 shares in the company, valued at $90,397.17. This represents a 88.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James Kihara sold 4,084 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total value of $96,749.96. Following the transaction, the insider owned 25,058 shares of the company’s stock, valued at $593,624.02. The trade was a 14.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 44,346 shares of company stock valued at $1,010,957. 28.30% of the stock is owned by insiders.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock traded up $0.38 during midday trading on Wednesday, hitting $26.58. The company had a trading volume of 80,677 shares, compared to its average volume of 1,200,605. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $28.35. The stock has a market cap of $4.50 billion, a PE ratio of 17.14, a P/E/G ratio of 6.58 and a beta of 0.68. The business’s 50 day simple moving average is $26.35 and its two-hundred day simple moving average is $24.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.28. The business had revenue of $278.63 million during the quarter, compared to analyst estimates of $276.52 million. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. ACADIA Pharmaceuticals’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 earnings per share. On average, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.