Janney Montgomery Scott LLC Takes Position in ACADIA Pharmaceuticals Inc. $ACAD

Janney Montgomery Scott LLC acquired a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 23,472 shares of the biopharmaceutical company’s stock, valued at approximately $522,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of ACADIA Pharmaceuticals by 25.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 658,813 shares of the biopharmaceutical company’s stock valued at $17,320,000 after purchasing an additional 133,393 shares during the period. Norges Bank acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $40,266,000. Jupiter Asset Management Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 30.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 621,049 shares of the biopharmaceutical company’s stock valued at $16,588,000 after buying an additional 144,732 shares during the period. Geode Capital Management LLC boosted its stake in ACADIA Pharmaceuticals by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after buying an additional 106,807 shares in the last quarter. Finally, UBS Group AG boosted its stake in ACADIA Pharmaceuticals by 15.7% during the fourth quarter. UBS Group AG now owns 769,392 shares of the biopharmaceutical company’s stock valued at $20,550,000 after buying an additional 104,546 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 5,401 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the sale, the insider owned 24,509 shares in the company, valued at approximately $519,100.62. The trade was a 18.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 3,506 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $76,395.74. Following the sale, the executive vice president directly owned 66,145 shares of the company’s stock, valued at $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,239 shares of company stock worth $219,813 in the last three months. 26.20% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Up 1.7%

Shares of NASDAQ ACAD opened at $25.92 on Thursday. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 18.36 and a beta of 0.80. The stock’s fifty day simple moving average is $22.78 and its 200 day simple moving average is $23.31. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $280.25 million. During the same period last year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.37 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. HC Wainwright downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Weiss Ratings cut shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, Bank of America boosted their target price on shares of ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.94.

ACADIA Pharmaceuticals Company Profile

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.