Stonepine Capital Management LLC Raises Stock Position in ACADIA Pharmaceuticals Inc. $ACAD

Stonepine Capital Management LLC boosted its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 140.9% in the second quarter, HoldingsChannel reports. The firm owned 225,000 shares of the biopharmaceutical company’s stock after buying an additional 131,607 shares during the period. ACADIA Pharmaceuticals makes up about 4.8% of Stonepine Capital Management LLC’s portfolio, making the stock its 6th largest position. Stonepine Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $4,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Maryland State Retirement & Pension System grew its stake in shares of ACADIA Pharmaceuticals by 1.3% in the 2nd quarter. Maryland State Retirement & Pension System now owns 36,397 shares of the biopharmaceutical company’s stock valued at $785,000 after buying an additional 476 shares during the period. Yousif Capital Management LLC boosted its holdings in ACADIA Pharmaceuticals by 1.7% in the second quarter. Yousif Capital Management LLC now owns 46,773 shares of the biopharmaceutical company’s stock worth $1,009,000 after acquiring an additional 790 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in ACADIA Pharmaceuticals by 15.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,465 shares of the biopharmaceutical company’s stock worth $139,000 after acquiring an additional 884 shares in the last quarter. Cetera Investment Advisers grew its stake in ACADIA Pharmaceuticals by 7.9% in the second quarter. Cetera Investment Advisers now owns 12,763 shares of the biopharmaceutical company’s stock valued at $275,000 after acquiring an additional 931 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of ACADIA Pharmaceuticals by 3.9% during the second quarter. Bank of Montreal Can now owns 33,421 shares of the biopharmaceutical company’s stock valued at $721,000 after acquiring an additional 1,248 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ACAD. JMP Securities lifted their price target on shares of ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Royal Bank Of Canada dropped their price objective on shares of ACADIA Pharmaceuticals from $34.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $29.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 25th. UBS Group upped their target price on shares of ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Finally, Mizuho lifted their price target on ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.11.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $25.88 on Thursday. The firm has a 50-day moving average of $22.48 and a 200-day moving average of $22.97. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $26.65. The company has a market cap of $4.38 billion, a P/E ratio of 16.70, a P/E/G ratio of 6.73 and a beta of 0.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.28. The business had revenue of $278.63 million during the quarter, compared to the consensus estimate of $276.52 million. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. As a group, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Mark C. Schneyer sold 10,262 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total transaction of $243,106.78. Following the completion of the sale, the executive vice president directly owned 53,338 shares of the company’s stock, valued at approximately $1,263,577.22. This trade represents a 16.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Kihara sold 4,084 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total value of $96,749.96. Following the sale, the insider owned 25,058 shares in the company, valued at $593,624.02. This trade represents a 14.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 47,844 shares of company stock valued at $1,093,684 over the last three months. Corporate insiders own 26.50% of the company’s stock.

ACADIA Pharmaceuticals Profile

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.