Nan Fung Group Holdings Ltd Purchases New Shares in ACADIA Pharmaceuticals Inc. $ACAD

Nan Fung Group Holdings Ltd acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the second quarter, Holdings Channel reports. The fund acquired 102,984 shares of the biopharmaceutical company’s stock, valued at approximately $2,605,495,000. ACADIA Pharmaceuticals comprises about 2.0% of Nan Fung Group Holdings Ltd’s investment portfolio, making the stock its 14th biggest position.

Several other institutional investors have also recently made changes to their positions in ACAD. Farther Finance Advisors LLC increased its position in shares of ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC raised its stake in shares of ACADIA Pharmaceuticals by 304.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 1,005 shares during the period. Federated Hermes Inc. increased its position in shares of ACADIA Pharmaceuticals by 277.5% during the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 1,185 shares during the period. Finally, Leonteq Securities AG bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $52,000. Institutional investors own 96.71% of the company’s stock.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 14,292 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the transaction, the executive vice president directly owned 67,828 shares in the company, valued at approximately $1,981,934.16. This represents a 17.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the sale, the executive vice president directly owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. This represents a 46.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 36,699 shares of company stock worth $1,019,894. Insiders own 26.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ACAD shares. Oppenheimer raised their target price on shares of ACADIA Pharmaceuticals from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, June 29th. Needham & Company LLC lifted their price objective on shares of ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, HC Wainwright reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.19.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $29.65 on Tuesday. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $30.96. The company’s 50 day moving average price is $26.12 and its 200-day moving average price is $23.50. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 23.23 and a beta of 0.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The company had revenue of $308.00 million during the quarter, compared to analyst estimates of $296.55 million. During the same period in the prior year, the business posted $0.16 earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.59 earnings per share 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.