Lazard Asset Management LLC Increases Stake in ACADIA Pharmaceuticals Inc. $ACAD

Lazard Asset Management LLC boosted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 8.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 246,297 shares of the biopharmaceutical company’s stock after buying an additional 20,075 shares during the quarter. Lazard Asset Management LLC owned 0.14% of ACADIA Pharmaceuticals worth $5,483,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $40,266,000. Millennium Management LLC boosted its holdings in ACADIA Pharmaceuticals by 2,052.1% in the third quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock valued at $31,652,000 after purchasing an additional 1,414,315 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in ACADIA Pharmaceuticals by 390.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after purchasing an additional 1,312,426 shares in the last quarter. First Trust Advisors LP grew its stake in ACADIA Pharmaceuticals by 47.3% during the 1st quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock worth $74,435,000 after purchasing an additional 1,073,834 shares in the last quarter. Finally, Logos Global Management LP purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth about $22,704,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ACAD shares. Citigroup increased their price target on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, June 29th. BMO Capital Markets boosted their price objective on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Stifel Nicolaus upped their target price on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Weiss Ratings cut shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price target on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Thirteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.31.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD opened at $26.55 on Friday. ACADIA Pharmaceuticals Inc. has a 12 month low of $19.69 and a 12 month high of $28.35. The firm has a market capitalization of $4.55 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 18.26 and a beta of 0.80. The business’s fifty day moving average price is $23.65 and its 200 day moving average price is $23.21.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. As a group, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 3,506 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 66,145 shares of the company’s stock, valued at $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Kihara sold 5,401 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the transaction, the insider directly owned 24,509 shares of the company’s stock, valued at $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 10,239 shares of company stock worth $219,813. Company insiders own 26.20% of the company’s stock.

ACADIA Pharmaceuticals 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.