Van Hulzen Asset Management LLC Boosts Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Van Hulzen Asset Management LLC lifted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 18.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,485 shares of the biopharmaceutical company’s stock after acquiring an additional 14,231 shares during the quarter. Van Hulzen Asset Management LLC owned approximately 0.06% of ACADIA Pharmaceuticals worth $1,487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACAD. Empire Life Investments Inc. boosted its stake in shares of ACADIA Pharmaceuticals by 0.3% in the fourth quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock worth $5,473,000 after acquiring an additional 467 shares during the period. Arizona State Retirement System boosted its stake in ACADIA Pharmaceuticals by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after purchasing an additional 655 shares during the period. Commonwealth Equity Services LLC grew its holdings in ACADIA Pharmaceuticals by 5.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 778 shares in the last quarter. Swiss National Bank raised its position in shares of ACADIA Pharmaceuticals by 0.4% during the first quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after buying an additional 800 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock worth $1,578,000 after buying an additional 803 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Mark C. Schneyer sold 9,733 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $148,720.24. Following the completion of the sale, the chief financial officer now directly owns 43,735 shares in the company, valued at $668,270.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brendan Teehan sold 9,534 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. The disclosure for this sale can be found here. Insiders sold 51,014 shares of company stock worth $779,494 in the last 90 days. 28.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ACAD shares. Cantor Fitzgerald cut their target price on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. UBS Group decreased their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets assumed coverage on ACADIA Pharmaceuticals in a report on Thursday, June 27th. They set an “outperform” rating and a $31.00 price target for the company. Finally, Citigroup decreased their price objective on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $15.63 on Wednesday. The firm has a market capitalization of $2.59 billion, a PE ratio of -1,561.44, a price-to-earnings-growth ratio of 0.54 and a beta of 0.40. The business has a 50 day simple moving average of $16.88 and a two-hundred day simple moving average of $17.24. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.55 and a 1 year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company had revenue of $241.96 million during the quarter, compared to analysts’ expectations of $235.95 million. During the same quarter in the previous year, the business earned $0.01 EPS. ACADIA Pharmaceuticals’s revenue was up 46.4% compared to the same quarter last year. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current fiscal year.

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.