Los Angeles Capital Management LLC Buys 3,771 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Los Angeles Capital Management LLC increased its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACADFree Report) by 9.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,308 shares of the biopharmaceutical company’s stock after buying an additional 3,771 shares during the period. Los Angeles Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $944,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in ACADIA Pharmaceuticals by 27.4% during the 3rd quarter. Victory Capital Management Inc. now owns 99,565 shares of the biopharmaceutical company’s stock worth $2,075,000 after buying an additional 21,394 shares during the period. EFG Asset Management North America Corp. bought a new position in ACADIA Pharmaceuticals in the third quarter valued at approximately $830,000. Principal Financial Group Inc. raised its position in ACADIA Pharmaceuticals by 23.7% during the third quarter. Principal Financial Group Inc. now owns 78,140 shares of the biopharmaceutical company’s stock valued at $1,628,000 after purchasing an additional 14,958 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in ACADIA Pharmaceuticals by 97.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 2,070 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its stake in ACADIA Pharmaceuticals by 31.2% during the third quarter. Arete Wealth Advisors LLC now owns 16,600 shares of the biopharmaceutical company’s stock worth $346,000 after purchasing an additional 3,950 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $25.91 on Thursday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $17.71 and a fifty-two week high of $33.99. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of -28.16 and a beta of 0.59. The business’s 50 day moving average price is $27.12 and its two-hundred day moving average price is $26.04.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. ACADIA Pharmaceuticals had a negative return on equity of 38.84% and a negative net margin of 23.55%. The business had revenue of $211.70 million during the quarter, compared to the consensus estimate of $194.40 million. Sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post -0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACAD has been the topic of a number of research reports. Citigroup assumed coverage on shares of ACADIA Pharmaceuticals in a research note on Wednesday, December 13th. They set a “buy” rating and a $38.00 target price on the stock. UBS Group began coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, October 17th. They set a “buy” rating and a $33.00 target price for the company. JPMorgan Chase & Co. raised shares of ACADIA Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price target for the company from $29.00 to $32.00 in a research report on Tuesday, October 10th. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Needham & Company LLC upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.26.

Get Our Latest Research Report on ACAD

Insiders Place Their Bets

In related news, insider James Kihara sold 1,985 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $22.64, for a total transaction of $44,940.40. Following the sale, the insider now directly owns 13,025 shares of the company’s stock, valued at $294,886. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider James Kihara sold 1,985 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $22.64, for a total transaction of $44,940.40. Following the completion of the sale, the insider now owns 13,025 shares in the company, valued at $294,886. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brendan Teehan sold 4,960 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, November 20th. The shares were sold at an average price of $22.64, for a total transaction of $112,294.40. Following the completion of the sale, the chief operating officer now owns 30,393 shares in the company, valued at $688,097.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,106 shares of company stock worth $480,868. 27.50% of the stock is currently owned by company insiders.

About ACADIA Pharmaceuticals

(Free Report)

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. It offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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