Rockefeller Capital Management L.P. Buys 185,684 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Rockefeller Capital Management L.P. grew its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 19.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,139,934 shares of the biopharmaceutical company’s stock after purchasing an additional 185,684 shares during the period. Rockefeller Capital Management L.P. owned about 0.69% of ACADIA Pharmaceuticals worth $17,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Stonepine Capital Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 3,837.9% in the third quarter. Stonepine Capital Management LLC now owns 196,895 shares of the biopharmaceutical company’s stock valued at $3,028,000 after purchasing an additional 191,895 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of ACADIA Pharmaceuticals by 259.0% in the third quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock valued at $3,439,000 after purchasing an additional 161,331 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $342,000. Fisher Asset Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 19.7% in the third quarter. Fisher Asset Management LLC now owns 194,599 shares of the biopharmaceutical company’s stock valued at $2,993,000 after purchasing an additional 31,980 shares during the last quarter. Finally, Algert Global LLC raised its holdings in shares of ACADIA Pharmaceuticals by 2.9% in the third quarter. Algert Global LLC now owns 549,456 shares of the biopharmaceutical company’s stock valued at $8,451,000 after purchasing an additional 15,313 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ACAD shares. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Cantor Fitzgerald lowered their target price on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. UBS Group lowered their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Stock Up 0.2 %

ACAD opened at $16.32 on Monday. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $32.59. The company has a 50-day simple moving average of $15.61 and a 200 day simple moving average of $16.01. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 20.92 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $248.83 million. During the same quarter in the prior year, the business posted ($0.40) earnings per share. ACADIA Pharmaceuticals’s revenue was up 18.3% compared to the same quarter last year. Sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Brendan Teehan sold 10,329 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $173,630.49. Following the completion of the transaction, the chief operating officer now owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. This represents a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at $896,006.62. This trade represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock valued at $414,551 over the last quarter. 28.30% of the stock is owned by company insiders.

ACADIA Pharmaceuticals 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.