Burney Co. Purchases New Shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Burney Co. bought a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 378,903 shares of the biopharmaceutical company's stock, valued at approximately $6,953,000. Burney Co. owned 0.23% of ACADIA Pharmaceuticals as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Arizona State Retirement System boosted its position in ACADIA Pharmaceuticals by 2.2% during the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company's stock worth $487,000 after purchasing an additional 655 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of ACADIA Pharmaceuticals by 5.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company's stock valued at $240,000 after buying an additional 778 shares in the last quarter. Quest Partners LLC boosted its holdings in ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 1,047 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in ACADIA Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company's stock valued at $94,000 after buying an additional 1,066 shares in the last quarter. Finally, Park Place Capital Corp bought a new stake in ACADIA Pharmaceuticals during the 3rd quarter valued at $25,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Up 3.6 %

Shares of ACADIA Pharmaceuticals stock traded up $0.61 during trading on Wednesday, hitting $17.51. 1,667,563 shares of the stock traded hands, compared to its average volume of 6,262,426. The firm's fifty day moving average is $17.19 and its 200-day moving average is $16.50. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 22.45 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $29.29.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. During the same period in the previous year, the business posted ($0.40) EPS. The business's quarterly revenue was up 18.3% on a year-over-year basis. On average, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ACAD shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Raymond James restated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. HC Wainwright reiterated a "buy" rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Finally, Guggenheim cut shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $25.25.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 10,259 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the transaction, the chief financial officer now owns 53,302 shares in the company, valued at approximately $896,006.62. This trade represents a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Kihara sold 4,073 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the transaction, the insider now directly owns 19,863 shares in the company, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,661 shares of company stock worth $414,551 over the last three months. Company insiders own 28.30% of the company's stock.

About ACADIA Pharmaceuticals

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.