Hussman Strategic Advisors Inc. Makes New Investment in ACADIA Pharmaceuticals Inc. $ACAD

Hussman Strategic Advisors Inc. acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 126,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,689,000.

A number of other institutional investors have also modified their holdings of ACAD. Geneos Wealth Management Inc. raised its position in ACADIA Pharmaceuticals by 113.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 756 shares during the last quarter. USA Financial Formulas acquired a new position in ACADIA Pharmaceuticals in the third quarter valued at $41,000. GAMMA Investing LLC increased its stake in ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 690 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of ACADIA Pharmaceuticals by 15.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,465 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 884 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter worth about $186,000. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Down 2.5%

NASDAQ:ACAD opened at $26.20 on Wednesday. The firm’s fifty day simple moving average is $26.35 and its 200-day simple moving average is $24.35. The stock has a market cap of $4.43 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 6.58 and a beta of 0.68. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.28. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. The firm had revenue of $278.63 million for the quarter, compared to the consensus estimate of $276.52 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, Director James M. Daly sold 30,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $22.37, for a total transaction of $671,100.00. Following the sale, the director directly owned 4,041 shares in the company, valued at approximately $90,397.17. The trade was a 88.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark C. Schneyer sold 10,262 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $243,106.78. Following the completion of the transaction, the executive vice president owned 53,338 shares of the company’s stock, valued at approximately $1,263,577.22. This represents a 16.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 44,346 shares of company stock worth $1,010,957 in the last quarter. Company insiders own 28.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ACAD. Wall Street Zen raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th. Mizuho upped their price target on ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Piper Sandler set a $37.00 price target on ACADIA Pharmaceuticals in a report on Tuesday, December 16th. UBS Group boosted their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $31.16.

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.