618,887 Shares in ACADIA Pharmaceuticals Inc. $ACAD Bought by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC purchased a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 618,887 shares of the biopharmaceutical company’s stock, valued at approximately $15,658,000.

Several other institutional investors have also added to or reduced their stakes in ACAD. Farther Finance Advisors LLC grew its holdings in ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 386 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC raised its stake in shares of ACADIA Pharmaceuticals by 304.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 1,005 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of ACADIA Pharmaceuticals by 277.5% during the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Activity

In other news, EVP Mark C. Schneyer sold 14,292 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.22, for a total value of $417,612.24. Following the sale, the executive vice president directly owned 67,828 shares of the company’s stock, valued at $1,981,934.16. This represents a 17.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 42,100 shares of company stock worth $1,134,287. Corporate insiders own 26.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ACAD shares. Citizens Jmp raised their target price on ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada upped their price target on ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. UBS Group increased their price objective on ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings upgraded ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Finally, HC Wainwright reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $34.19.

ACADIA Pharmaceuticals Trading Up 2.7%

NASDAQ:ACAD opened at $29.01 on Tuesday. The company has a 50-day moving average price of $25.29 and a 200-day moving average price of $23.35. ACADIA Pharmaceuticals Inc. has a 12 month low of $19.69 and a 12 month high of $29.85. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 22.24 and a beta of 0.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. Equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.59 EPS 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.