Great Lakes Advisors LLC Purchases New Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Great Lakes Advisors LLC acquired a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 151,341 shares of the biopharmaceutical company’s stock, valued at approximately $3,829,000.

Several other large investors have also recently bought and sold shares of ACAD. BlackRock Inc. acquired a new position in ACADIA Pharmaceuticals in the second quarter valued at about $569,634,000. State Street Corp grew its position in shares of ACADIA Pharmaceuticals by 9.0% during the 4th quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock worth $211,296,000 after buying an additional 655,257 shares during the period. First Trust Advisors LP increased its stake in shares of ACADIA Pharmaceuticals by 47.3% in the 1st quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock valued at $74,435,000 after acquiring an additional 1,073,834 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after acquiring an additional 106,807 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of ACADIA Pharmaceuticals by 8.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company’s stock valued at $70,222,000 after acquiring an additional 234,186 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $29.04 on Friday. ACADIA Pharmaceuticals Inc. has a 52 week low of $19.69 and a 52 week high of $30.96. The company’s 50 day moving average price is $25.79 and its two-hundred day moving average price is $23.44. The company has a market capitalization of $5.00 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 23.79 and a beta of 0.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The company had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $296.55 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. Analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ACAD shares. Citigroup increased their target price on shares of ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wall Street Zen raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Citizens Jmp upped their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Bank of America reaffirmed a “buy” rating and set a $14.50 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, June 29th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.19.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 5,401 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the completion of the transaction, the insider owned 24,509 shares in the company, valued at approximately $519,100.62. This represents a 18.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the sale, the executive vice president directly owned 67,828 shares in the company, valued at $1,981,934.16. This represents a 17.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 42,100 shares of company stock valued at $1,134,287. 26.20% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Company Profile

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.