Capstone Investment Advisors LLC Buys Shares of 18,442 ACADIA Pharmaceuticals Inc. $ACAD

Capstone Investment Advisors LLC bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 18,442 shares of the biopharmaceutical company’s stock, valued at approximately $467,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ACAD. Rice Hall James & Associates LLC bought a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at $15,658,000. State of Wyoming bought a new stake in shares of ACADIA Pharmaceuticals in the second quarter worth $1,234,000. Bank of America Corp DE increased its holdings in ACADIA Pharmaceuticals by 27.2% in the first quarter. Bank of America Corp DE now owns 1,553,770 shares of the biopharmaceutical company’s stock valued at $34,587,000 after purchasing an additional 332,325 shares during the period. Norges Bank bought a new position in ACADIA Pharmaceuticals during the 4th quarter worth $40,266,000. Finally, GSA Capital Partners LLP bought a new position in ACADIA Pharmaceuticals during the 2nd quarter worth $1,783,000. Institutional investors own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ACAD. UBS Group lifted their target price on ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Royal Bank Of Canada increased their price target on ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group raised their price objective on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Citigroup lifted their price objective on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Finally, Wall Street Zen upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $34.36.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 14,292 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the transaction, the executive vice president directly owned 67,828 shares of the company’s stock, valued at $1,981,934.16. The trade was a 17.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the sale, the executive vice president owned 18,994 shares in the company, valued at approximately $496,313.22. The trade was a 46.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,699 shares of company stock worth $1,019,894 over the last three months. 26.20% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Stock Down 2.1%

Shares of NASDAQ ACAD opened at $29.11 on Friday. The company has a market capitalization of $5.02 billion, a PE ratio of 13.11, a P/E/G ratio of 21.71 and a beta of 0.81. ACADIA Pharmaceuticals Inc. has a twelve month low of $19.69 and a twelve month high of $30.96. The firm has a fifty day simple moving average of $26.79 and a 200 day simple moving average of $23.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The business had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $296.55 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals 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.