Braidwell LP Makes New $50.76 Million Investment in ACADIA Pharmaceuticals Inc. $ACAD

Braidwell LP bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 2,378,655 shares of the biopharmaceutical company’s stock, valued at approximately $50,760,000. ACADIA Pharmaceuticals accounts for approximately 1.5% of Braidwell LP’s investment portfolio, making the stock its 24th largest holding. Braidwell LP owned 1.41% of ACADIA Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ACAD. Norges Bank bought a new stake in ACADIA Pharmaceuticals during the 2nd quarter valued at approximately $31,679,000. TFG Asset Management GP Ltd raised its position in shares of ACADIA Pharmaceuticals by 50.8% in the 2nd quarter. TFG Asset Management GP Ltd now owns 161,396 shares of the biopharmaceutical company’s stock worth $3,481,000 after acquiring an additional 54,396 shares in the last quarter. First Trust Advisors LP raised its position in shares of ACADIA Pharmaceuticals by 2.8% in the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock worth $52,509,000 after acquiring an additional 65,914 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of ACADIA Pharmaceuticals by 210.1% in the 3rd quarter. GSA Capital Partners LLP now owns 75,902 shares of the biopharmaceutical company’s stock valued at $1,620,000 after purchasing an additional 51,428 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of ACADIA Pharmaceuticals by 613.4% in the 3rd quarter. SG Americas Securities LLC now owns 39,680 shares of the biopharmaceutical company’s stock valued at $847,000 after purchasing an additional 34,118 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group upped their price target on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Bank of America reissued a “neutral” rating and set a $29.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, March 2nd. JPMorgan Chase & Co. boosted their target price on shares of ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Wolfe Research initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Monday, February 23rd. They issued an “outperform” rating and a $33.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $34.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $31.21.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Jennifer J. Rhodes sold 6,950 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $23.38, for a total transaction of $162,491.00. Following the completion of the sale, the executive vice president directly owned 7,609 shares in the company, valued at approximately $177,898.42. This trade represents a 47.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 26.50% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 3.1%

ACADIA Pharmaceuticals stock opened at $20.61 on Friday. The business’s fifty day simple moving average is $24.52 and its two-hundred day simple moving average is $24.24. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $28.35. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 20.49 and a beta of 0.66.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $0.12 by $1.48. The firm had revenue of $298.00 million during the quarter, compared to the consensus estimate of $292.54 million. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. On average, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

About ACADIA Pharmaceuticals

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.