Assenagon Asset Management S.A. Grows Stake in ACADIA Pharmaceuticals Inc. $ACAD

Assenagon Asset Management S.A. raised its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 796.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,127 shares of the biopharmaceutical company’s stock after buying an additional 69,411 shares during the quarter. Assenagon Asset Management S.A.’s holdings in ACADIA Pharmaceuticals were worth $1,739,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 386 shares during the period. Meeder Asset Management Inc. purchased a new position in ACADIA Pharmaceuticals during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC raised its holdings in ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 1,005 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of ACADIA Pharmaceuticals by 277.5% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 1,185 shares during the period. Finally, Leonteq Securities AG purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth about $52,000. Institutional investors own 96.71% of the company’s stock.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 5,401 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the sale, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the completion of the sale, the executive vice president directly owned 66,145 shares of the company’s stock, valued at approximately $1,441,299.55. The trade was a 5.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,978 shares of company stock worth $302,819 over the last ninety days. 26.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ACAD shares. JPMorgan Chase & Co. boosted their price target on shares of ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Bank of America boosted their price target on ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings downgraded ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. HC Wainwright lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.59.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $25.20 on Thursday. The company has a 50-day simple moving average of $22.03 and a two-hundred day simple moving average of $23.41. The stock has a market capitalization of $4.32 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 18.22 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. As a group, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.37 EPS for the current fiscal year.

ACADIA Pharmaceuticals Company Profile

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.