Erste Asset Management GmbH Makes New $3.80 Million Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Erste Asset Management GmbH acquired a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 242,300 shares of the biopharmaceutical company's stock, valued at approximately $3,802,000. Erste Asset Management GmbH owned 0.15% of ACADIA Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. M&G Plc grew its position in shares of ACADIA Pharmaceuticals by 12.4% during the 2nd quarter. M&G Plc now owns 351,115 shares of the biopharmaceutical company's stock valued at $5,618,000 after acquiring an additional 38,790 shares during the period. Fred Alger Management LLC grew its position in shares of ACADIA Pharmaceuticals by 19.8% during the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company's stock valued at $43,947,000 after acquiring an additional 446,875 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at $483,000. US Bancorp DE lifted its stake in shares of ACADIA Pharmaceuticals by 2,084.0% during the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company's stock valued at $507,000 after buying an additional 31,426 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 67.8% during the 3rd quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company's stock valued at $1,992,000 after buying an additional 52,340 shares in the last quarter. Institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Down 1.9 %

NASDAQ:ACAD traded down $0.31 during mid-day trading on Tuesday, hitting $16.30. 1,190,507 shares of the stock traded hands, compared to its average volume of 1,411,856. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 20.90 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $32.59. The firm's 50 day moving average is $15.62 and its two-hundred day moving average is $16.02.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $250.40 million for the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm's revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.40) EPS. As a group, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,073 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the sale, the insider now owns 19,863 shares in the company, valued at $333,897.03. This trade represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Brendan Teehan sold 10,329 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $173,630.49. Following the completion of the sale, the chief operating officer now owns 62,105 shares in the company, valued at approximately $1,043,985.05. This trade represents a 14.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,661 shares of company stock valued at $414,551. Company insiders own 28.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ACAD shares. Raymond James restated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Citigroup lowered their target price on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. HC Wainwright restated a "buy" rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. StockNews.com cut shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada decreased their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $25.56.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.