Frazier Life Sciences Management L.P. Purchases 683,361 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Frazier Life Sciences Management L.P. increased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 111.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,297,198 shares of the biopharmaceutical company’s stock after acquiring an additional 683,361 shares during the quarter. ACADIA Pharmaceuticals makes up approximately 0.9% of Frazier Life Sciences Management L.P.’s holdings, making the stock its 23rd largest holding. Frazier Life Sciences Management L.P.’s holdings in ACADIA Pharmaceuticals were worth $34,648,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ACAD. Braidwell LP bought a new position in ACADIA Pharmaceuticals during the 3rd quarter valued at about $50,760,000. Norges Bank bought a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $40,266,000. Millennium Management LLC lifted its stake in ACADIA Pharmaceuticals by 2,052.1% during the 3rd quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock valued at $31,652,000 after acquiring an additional 1,414,315 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in ACADIA Pharmaceuticals by 390.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock valued at $35,187,000 after acquiring an additional 1,312,426 shares during the period. Finally, State Street Corp lifted its stake in ACADIA Pharmaceuticals by 9.0% during the 4th quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock valued at $211,296,000 after acquiring an additional 655,257 shares during the period. Institutional investors own 96.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ACAD shares. JPMorgan Chase & Co. upped their target price on shares of ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Citigroup lowered their target price on shares of ACADIA Pharmaceuticals from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Mizuho upgraded shares of ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and upped their target price for the company from $29.00 to $35.00 in a research note on Monday, February 23rd. TD Cowen upped their target price on shares of ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings cut shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $31.63.

Insider Buying and Selling

In related news, insider James Kihara sold 5,401 shares of the 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 directly owned 24,509 shares of the company’s stock, valued at approximately $519,100.62. This represents a 18.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark C. Schneyer sold 3,506 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the sale, the executive vice president directly owned 66,145 shares of the company’s stock, valued at $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 13,978 shares of company stock worth $302,819. 26.20% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Trading Down 1.4%

ACAD opened at $21.09 on Friday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 26.48 and a beta of 0.83. The company’s 50 day moving average is $21.76 and its 200 day moving average is $23.67. ACADIA Pharmaceuticals Inc. has a 12-month low of $19.69 and a 12-month high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $268.10 million during the quarter, compared to analysts’ expectations of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. As a group, analysts predict that ACADIA Pharmaceuticals Inc. will post 0.37 EPS for the current fiscal year.

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.