ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Acquired by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. increased its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACADFree Report) by 64.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,903 shares of the biopharmaceutical company’s stock after purchasing an additional 12,493 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in ACADIA Pharmaceuticals were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Park Place Capital Corp acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter worth about $25,000. Values First Advisors Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at about $27,000. Covestor Ltd raised its holdings in shares of ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 840 shares during the period. Headlands Technologies LLC acquired a new position in ACADIA Pharmaceuticals during the 1st quarter worth approximately $48,000. Finally, Stonepine Capital Management LLC purchased a new position in ACADIA Pharmaceuticals in the 2nd quarter worth approximately $81,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ACADIA Pharmaceuticals

In related news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the transaction, the chief operating officer now owns 52,177 shares in the company, valued at $797,264.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares in the company, valued at approximately $2,850,560.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,014 shares of company stock worth $779,494. 28.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ACAD. UBS Group reduced their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald cut their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. StockNews.com upgraded ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Finally, Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $25.56.

Read Our Latest Stock Report on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Price Performance

ACAD stock opened at $14.77 on Thursday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -1,477.00, a PEG ratio of 0.49 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.15 and a 1-year high of $32.59. The firm has a fifty day moving average price of $15.52 and a two-hundred day moving average price of $16.04.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The business had revenue of $241.96 million during the quarter, compared to the consensus estimate of $235.95 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The company’s revenue for the quarter was up 46.4% compared to the same quarter last year. As a group, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current fiscal year.

ACADIA Pharmaceuticals Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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