Ishara Investments LP Takes $4.27 Million Position in ACADIA Pharmaceuticals Inc. $ACAD

Ishara Investments LP bought a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 160,000 shares of the biopharmaceutical company’s stock, valued at approximately $4,274,000. ACADIA Pharmaceuticals accounts for about 4.9% of Ishara Investments LP’s portfolio, making the stock its 5th largest position. Ishara Investments LP owned approximately 0.09% of ACADIA Pharmaceuticals as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 386 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC boosted its holdings in ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 1,005 shares during the last quarter. Federated Hermes Inc. boosted its holdings in ACADIA Pharmaceuticals by 277.5% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 1,185 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in ACADIA Pharmaceuticals by 107.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 885 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider James Kihara sold 5,401 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the transaction, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. This represents a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark C. Schneyer sold 3,506 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.79, for a total value of $76,395.74. Following the completion of the transaction, the executive vice president owned 66,145 shares in the company, valued at $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,978 shares of company stock worth $302,819 over the last three months. Corporate insiders own 26.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ACAD shares. Bank of America upgraded ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, March 25th. Weiss Ratings cut ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Royal Bank Of Canada lowered their price objective on ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Stifel Nicolaus lowered their price objective on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Finally, Citizens Jmp raised their target price on shares of ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 26th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $31.63.

ACADIA Pharmaceuticals Price Performance

ACAD opened at $21.60 on Thursday. The company’s 50 day simple moving average is $21.70 and its two-hundred day simple moving average is $23.59. ACADIA Pharmaceuticals Inc. has a 1-year low of $19.69 and a 1-year high of $28.35. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 26.29 and a beta of 0.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business had revenue of $268.10 million during the quarter, compared to analysts’ expectations of $280.25 million. During the same period last year, the business earned $0.11 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.37 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.