Geode Capital Management LLC Has $44.23 Million Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Geode Capital Management LLC increased its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,875,540 shares of the biopharmaceutical company's stock after purchasing an additional 30,826 shares during the quarter. Geode Capital Management LLC owned approximately 1.73% of ACADIA Pharmaceuticals worth $44,234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACAD. Barclays PLC grew its holdings in shares of ACADIA Pharmaceuticals by 126.2% during the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock valued at $4,269,000 after buying an additional 154,854 shares in the last quarter. State Street Corp grew its stake in ACADIA Pharmaceuticals by 3.0% during the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company's stock valued at $91,878,000 after acquiring an additional 173,084 shares in the last quarter. Iron Triangle Partners LP purchased a new stake in shares of ACADIA Pharmaceuticals in the third quarter worth approximately $11,535,000. Erste Asset Management GmbH purchased a new position in ACADIA Pharmaceuticals during the third quarter valued at approximately $3,802,000. Finally, Edgestream Partners L.P. increased its stake in ACADIA Pharmaceuticals by 141.1% in the 3rd quarter. Edgestream Partners L.P. now owns 219,329 shares of the biopharmaceutical company's stock valued at $3,373,000 after buying an additional 128,372 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on ACAD. Needham & Company LLC restated a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. StockNews.com lowered ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. HC Wainwright restated a "buy" rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, Raymond James reiterated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.60.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD traded down $0.10 during trading hours on Tuesday, hitting $17.07. 318,195 shares of the company's stock were exchanged, compared to its average volume of 1,675,069. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 21.88 and a beta of 0.40. The company's 50-day moving average price is $16.33 and its 200-day moving average price is $16.26. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.15 and a 1-year high of $31.93.

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, topping analysts' consensus estimates of $0.14 by $0.06. The company had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.40) earnings per share. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

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

ACADIA Pharmaceuticals 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.