The Manufacturers Life Insurance Company Increases Holdings in ACADIA Pharmaceuticals Inc. $ACAD

The Manufacturers Life Insurance Company increased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 7.4% during the first quarter, HoldingsChannel.com reports. The fund owned 571,776 shares of the biopharmaceutical company’s stock after acquiring an additional 39,243 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ACADIA Pharmaceuticals were worth $12,728,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP raised its holdings in ACADIA Pharmaceuticals by 52.0% during the first quarter. Quantinno Capital Management LP now owns 15,332 shares of the biopharmaceutical company’s stock worth $341,000 after purchasing an additional 5,244 shares during the last quarter. Lazard Asset Management LLC grew its holdings in ACADIA Pharmaceuticals by 8.9% in the first quarter. Lazard Asset Management LLC now owns 246,297 shares of the biopharmaceutical company’s stock valued at $5,483,000 after purchasing an additional 20,075 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in ACADIA Pharmaceuticals in the first quarter valued at $746,000. Rice Hall James & Associates LLC increased its position in shares of ACADIA Pharmaceuticals by 2.3% in the first quarter. Rice Hall James & Associates LLC now owns 617,489 shares of the biopharmaceutical company’s stock valued at $13,745,000 after buying an additional 13,749 shares in the last quarter. Finally, Entropy Technologies LP raised its stake in shares of ACADIA Pharmaceuticals by 88.0% during the 1st quarter. Entropy Technologies LP now owns 24,060 shares of the biopharmaceutical company’s stock worth $536,000 after buying an additional 11,264 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value 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. The trade was a 46.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Kihara sold 5,401 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the transaction, the insider owned 24,509 shares of the company’s stock, valued at $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 26.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on ACAD shares. Canaccord Genuity Group upped their price target on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, June 29th. Citigroup raised their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Bank of America reaffirmed a “buy” rating and issued a $14.50 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, June 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $32.31.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $25.87 on Monday. ACADIA Pharmaceuticals Inc. has a 12-month low of $19.69 and a 12-month high of $28.35. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 17.94 and a beta of 0.81. The company’s 50-day moving average is $23.74 and its two-hundred day moving average is $23.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share. On average, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current fiscal year.

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.