SG Americas Securities LLC Increases Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

ACADIA Pharmaceuticals logo with Medical background

SG Americas Securities LLC grew its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 380.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,483,731 shares of the biopharmaceutical company's stock after acquiring an additional 1,966,607 shares during the period. SG Americas Securities LLC owned about 1.49% of ACADIA Pharmaceuticals worth $45,576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp boosted its position in ACADIA Pharmaceuticals by 3.0% in the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company's stock worth $91,878,000 after purchasing an additional 173,084 shares in the last quarter. Fred Alger Management LLC lifted its stake in shares of ACADIA Pharmaceuticals by 17.8% in the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company's stock valued at $49,007,000 after purchasing an additional 481,950 shares during the period. Millennium Management LLC lifted its stake in shares of ACADIA Pharmaceuticals by 36.2% in the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company's stock valued at $47,738,000 after purchasing an additional 781,070 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in ACADIA Pharmaceuticals by 11.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company's stock worth $47,693,000 after buying an additional 292,906 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in ACADIA Pharmaceuticals by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company's stock valued at $44,234,000 after buying an additional 30,826 shares during the period. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock traded up $1.27 during trading hours on Thursday, reaching $19.08. The company had a trading volume of 2,483,459 shares, compared to its average volume of 4,689,989. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $29.29. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 24.46 and a beta of 0.37. The stock has a fifty day moving average of $17.26 and a 200-day moving average of $16.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $250.40 million during the quarter, compared to analysts' expectations of $248.83 million. During the same period in the prior year, the business earned ($0.40) EPS. The firm's quarterly revenue was up 18.3% on a year-over-year basis. On average, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Wall Street Analyst Weigh In

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

View Our Latest Analysis on ACAD

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,073 shares of the firm's 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 sale, the insider now owns 19,863 shares of the company's stock, valued at $333,897.03. This trade represents a 17.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction 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 completion of the sale, the chief financial officer now owns 53,302 shares in the company, valued at $896,006.62. This represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,661 shares of company stock valued at $414,551 over the last ninety days. Company insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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