242,566 Shares in ACADIA Pharmaceuticals Inc. $ACAD Bought by Stempoint Capital LP

Stempoint Capital LP purchased a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the first quarter, Holdings Channel reports. The institutional investor purchased 242,566 shares of the biopharmaceutical company’s stock, valued at approximately $5,400,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ACAD. Farther Finance Advisors LLC increased its position in shares of ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 386 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of ACADIA Pharmaceuticals by 2.7% in the 4th quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company’s stock worth $437,000 after buying an additional 436 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 2.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company’s stock worth $551,000 after buying an additional 501 shares during the last quarter. Pallas Capital Advisors LLC grew its position in ACADIA Pharmaceuticals by 4.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 13,192 shares of the biopharmaceutical company’s stock valued at $352,000 after buying an additional 512 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in ACADIA Pharmaceuticals by 2.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,666 shares of the biopharmaceutical company’s stock valued at $766,000 after buying an additional 566 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACAD. BMO Capital Markets raised their price objective on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. HC Wainwright downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Stifel Nicolaus lifted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Citigroup upped their price objective on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Thirteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.31.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $26.34 on Thursday. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $28.35. The stock’s 50-day simple moving average is $23.54 and its 200 day simple moving average is $23.21. The stock has a market capitalization of $4.51 billion, a P/E ratio of 11.97, a P/E/G ratio of 18.03 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $268.10 million during 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%.ACADIA Pharmaceuticals’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. Equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,506 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the sale, the executive vice president owned 66,145 shares in the company, valued at $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James Kihara sold 5,401 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the transaction, the insider directly owned 24,509 shares of the company’s stock, valued at $519,100.62. The trade was a 18.06% 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 valued at $219,813 over the last quarter. 26.20% of the stock is owned by company insiders.

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.