Neo Ivy Capital Management Purchases Shares of 62,568 ACADIA Pharmaceuticals Inc. $ACAD

Neo Ivy Capital Management acquired a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 62,568 shares of the biopharmaceutical company’s stock, valued at approximately $1,335,000.

Several other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of ACADIA Pharmaceuticals by 11.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 534 shares during the period. Thrivent Financial for Lutherans increased its holdings in ACADIA Pharmaceuticals by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company’s stock valued at $1,964,000 after purchasing an additional 626 shares in the last quarter. GAMMA Investing LLC raised its position in ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 690 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 113.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 756 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 885 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Trading Down 1.1%

ACADIA Pharmaceuticals stock opened at $22.16 on Friday. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $28.35. The stock has a market cap of $3.78 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 18.71 and a beta of 0.66. The stock has a 50 day moving average of $25.01 and a 200-day moving average of $24.36.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on ACAD. Citigroup raised their target price on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. lifted their price objective on shares of ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group boosted their target price on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Mizuho raised shares of ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $29.00 to $35.00 in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $31.21.

Insider Buying and Selling

In related news, EVP Jennifer J. Rhodes sold 6,950 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $23.38, for a total value of $162,491.00. Following the completion of the sale, the executive vice president directly owned 7,609 shares of the company’s stock, valued at $177,898.42. The trade was a 47.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 26.50% of the company’s stock.

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.