Exchange Traded Concepts LLC Acquires Shares of 1,776 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Exchange Traded Concepts LLC purchased a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,776 shares of the biopharmaceutical company’s stock, valued at approximately $29,000.

Other hedge funds have also recently modified their holdings of the company. Virtus Fund Advisers LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $39,000. GF Fund Management CO. LTD. purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $64,000. GAMMA Investing LLC lifted its position in ACADIA Pharmaceuticals by 627.3% during the first quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company’s stock valued at $58,000 after acquiring an additional 3,030 shares during the last quarter. Globeflex Capital L P purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $168,000. Finally, Xponance Inc. purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $186,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. HC Wainwright upped their price target on shares of ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Oppenheimer restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Friday, May 16th. Mizuho upped their price target on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the company from $20.00 to $35.00 in a research note on Wednesday, May 21st. Finally, Bank of America upped their price target on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, June 5th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $27.64.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD opened at $22.50 on Thursday. The firm has a market capitalization of $3.77 billion, a P/E ratio of 16.42, a PEG ratio of 4.78 and a beta of 0.65. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $25.23. The company’s fifty day moving average price is $19.30 and its 200-day moving average price is $18.17.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. Equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, Director Laura Brege sold 14,446 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total transaction of $314,633.88. Following the sale, the director now owns 15,095 shares in the company, valued at approximately $328,769.10. This trade represents a 48.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Kihara sold 4,000 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the sale, the insider now owns 20,395 shares in the company, valued at approximately $458,887.50. This represents a 16.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,007 shares of company stock worth $580,446 over the last 90 days. 26.50% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.