ACADIA Pharmaceuticals Inc. $ACAD Shares Bought by Walleye Capital LLC

Walleye Capital LLC grew its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 68.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,788 shares of the biopharmaceutical company’s stock after purchasing an additional 35,826 shares during the quarter. Walleye Capital LLC owned approximately 0.05% of ACADIA Pharmaceuticals worth $1,894,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in ACADIA Pharmaceuticals by 9.0% in the first quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company’s stock valued at $252,526,000 after buying an additional 1,255,594 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,024,097 shares of the biopharmaceutical company’s stock valued at $65,238,000 after acquiring an additional 69,584 shares during the last quarter. Fred Alger Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 2.0% in the 1st quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company’s stock valued at $46,007,000 after acquiring an additional 54,899 shares during the last quarter. First Trust Advisors LP raised its position in shares of ACADIA Pharmaceuticals by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock valued at $52,509,000 after acquiring an additional 65,914 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in ACADIA Pharmaceuticals by 73.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,977,432 shares of the biopharmaceutical company’s stock worth $32,845,000 after purchasing an additional 838,728 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Citigroup initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, October 21st. They set a “buy” rating and a $33.00 target price for the company. Mizuho lifted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 25th. UBS Group reissued a “buy” rating and issued a $35.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday. Finally, TD Cowen upped their target price on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.89.

Insider Transactions at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,084 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $96,749.96. Following the completion of the transaction, the insider owned 25,058 shares in the company, valued at $593,624.02. This represents a 14.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James M. Daly sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $22.37, for a total transaction of $671,100.00. Following the transaction, 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 position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 47,844 shares of company stock valued at $1,093,684. 28.30% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Trading Down 2.5%

Shares of NASDAQ:ACAD opened at $26.76 on Tuesday. The firm’s 50 day moving average is $22.82 and its two-hundred day moving average is $23.08. The firm has a market capitalization of $4.53 billion, a P/E ratio of 17.26, a PEG ratio of 7.37 and a beta of 0.67. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $27.73.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.28. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The business had revenue of $278.63 million during the quarter, compared to analyst estimates of $276.52 million. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current 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.