Connor Clark & Lunn Investment Management Ltd. Has $7.79 Million Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 489,546 shares of the biopharmaceutical company’s stock after selling 20,375 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.30% of ACADIA Pharmaceuticals worth $7,794,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ACAD. IFP Advisors Inc boosted its stake in shares of ACADIA Pharmaceuticals by 284.6% during the third quarter. IFP Advisors Inc now owns 2,027 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,500 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the third quarter valued at about $60,000. Exchange Traded Concepts LLC boosted its stake in shares of ACADIA Pharmaceuticals by 33.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,240 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 1,303 shares in the last quarter. Gibson Wealth Advisors LLC boosted its stake in shares of ACADIA Pharmaceuticals by 6,200.0% during the fourth quarter. Gibson Wealth Advisors LLC now owns 6,300 shares of the biopharmaceutical company’s stock valued at $98,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Point72 Hong Kong Ltd boosted its stake in shares of ACADIA Pharmaceuticals by 664.7% during the first quarter. Point72 Hong Kong Ltd now owns 6,003 shares of the biopharmaceutical company’s stock valued at $145,000 after purchasing an additional 5,218 shares in the last quarter. 92.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ACADIA Pharmaceuticals

In related news, Director Bros. Advisors Lp Baker acquired 209,053 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were bought at an average cost of $25.41 per share, for a total transaction of $5,312,036.73. Following the purchase, the director now owns 38,811,515 shares in the company, valued at approximately $986,200,596.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 8,582 shares of the firm’s stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $18.16, for a total value of $155,849.12. Following the sale, the chief executive officer now owns 100,478 shares of the company’s stock, valued at approximately $1,824,680.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 209,053 shares of the stock in a transaction on Tuesday, May 23rd. The stock was acquired at an average cost of $25.41 per share, for a total transaction of $5,312,036.73. Following the acquisition, the director now owns 38,811,515 shares in the company, valued at $986,200,596.15. The disclosure for this purchase can be found here. In the last three months, insiders have sold 60,326 shares of company stock worth $1,280,295. 28.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ACAD has been the subject of a number of analyst reports. Credit Suisse Group raised their price objective on ACADIA Pharmaceuticals from $93.00 to $95.00 in a research report on Friday, April 28th. Guggenheim raised their price objective on ACADIA Pharmaceuticals from $22.00 to $25.00 in a research report on Tuesday, March 14th. Morgan Stanley raised their price objective on ACADIA Pharmaceuticals from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 14th. Royal Bank of Canada restated an “outperform” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, March 14th. Finally, HC Wainwright raised their price objective on ACADIA Pharmaceuticals from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $25.43.

ACADIA Pharmaceuticals Trading Down 4.7 %

NASDAQ:ACAD opened at $24.45 on Friday. ACADIA Pharmaceuticals Inc. has a 52-week low of $12.24 and a 52-week high of $26.04. The business’s fifty day moving average is $20.44 and its 200 day moving average is $18.48.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last released its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). ACADIA Pharmaceuticals had a negative net margin of 28.05% and a negative return on equity of 35.70%. The company had revenue of $118.46 million for the quarter, compared to the consensus estimate of $120.29 million. During the same quarter in the previous year, the firm posted ($0.70) earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts forecast that ACADIA Pharmaceuticals Inc. will post -0.56 earnings per share for the current year.

ACADIA Pharmaceuticals Company Profile

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ACADIA Pharmaceuticals, Inc is a biopharmaceutical company, which focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. Its products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.