Fifth Third Bancorp Buys 31,079 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Fifth Third Bancorp raised its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5,053.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,694 shares of the biopharmaceutical company’s stock after buying an additional 31,079 shares during the quarter. Fifth Third Bancorp’s holdings in ACADIA Pharmaceuticals were worth $706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ACAD. Farther Finance Advisors LLC boosted its stake in ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 386 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC increased its stake in ACADIA Pharmaceuticals by 304.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 1,005 shares in the last quarter. Federated Hermes Inc. raised its holdings in ACADIA Pharmaceuticals by 277.5% in the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 1,185 shares during the period. Finally, Leonteq Securities AG acquired a new stake in ACADIA Pharmaceuticals in the fourth quarter worth $52,000. 96.71% of the stock is owned by institutional investors.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the sale, the executive vice president owned 66,145 shares of the company’s stock, valued at approximately $1,441,299.55. This trade represents a 5.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Kihara sold 5,401 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the sale, the insider owned 24,509 shares in the company, valued at $519,100.62. The trade was a 18.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 10,239 shares of company stock valued at $219,813. 26.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ACAD shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, June 29th. HC Wainwright downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Stifel Nicolaus lifted their target price on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings cut ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group increased their price target on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Thirteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.17.

ACADIA Pharmaceuticals Trading Up 2.2%

Shares of NASDAQ ACAD opened at $25.39 on Tuesday. The firm has a market cap of $4.35 billion, a PE ratio of 11.54, a PEG ratio of 17.22 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a 1-year low of $19.69 and a 1-year high of $28.35. The company has a fifty day moving average price of $23.32 and a 200 day moving average price of $23.22.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $268.10 million during the quarter, compared to analyst estimates of $280.25 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 EPS. Equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current 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.