Jupiter Asset Management Ltd. Grows Stake in ACADIA Pharmaceuticals Inc. $ACAD

Jupiter Asset Management Ltd. lifted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 30.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 621,049 shares of the biopharmaceutical company’s stock after purchasing an additional 144,732 shares during the period. Jupiter Asset Management Ltd.’s holdings in ACADIA Pharmaceuticals were worth $16,588,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC lifted its stake 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 purchasing an additional 386 shares in the last quarter. 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 valued at $36,000 after purchasing an additional 885 shares during the last quarter. Leonteq Securities AG acquired a new position in ACADIA Pharmaceuticals in the 4th quarter valued at about $52,000. iSAM Funds UK Ltd acquired a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at about $93,000. Finally, Global Retirement Partners LLC acquired a new position in ACADIA Pharmaceuticals in the 4th quarter valued at about $135,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Activity at ACADIA Pharmaceuticals

In other news, 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 transaction, the executive vice president directly owned 66,145 shares in the company, valued at approximately $1,441,299.55. This represents a 5.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $114,393.18. Following the completion of the transaction, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 13,978 shares of company stock worth $302,819. Company insiders own 26.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Weiss Ratings lowered shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. HC Wainwright reiterated a “buy” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 3rd. 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. Finally, Wolfe Research assumed coverage on shares of ACADIA Pharmaceuticals in a report on Monday, February 23rd. They issued an “outperform” rating and a $33.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.63.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $21.66 on Friday. The firm’s 50 day moving average price is $21.74 and its 200-day moving average price is $23.81. ACADIA Pharmaceuticals Inc. has a one year low of $19.69 and a one year high of $28.35. The firm has a market cap of $3.71 billion, a P/E ratio of 9.85, a P/E/G ratio of 26.19 and a beta of 0.86.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The company had revenue of $268.10 million during the quarter, compared to analyst estimates of $280.25 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current fiscal 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.