Quantbot Technologies LP Invests $556,000 in ACADIA Pharmaceuticals Inc. $ACAD

Quantbot Technologies LP purchased a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 3rd quarter, HoldingsChannel reports. The fund purchased 26,064 shares of the biopharmaceutical company’s stock, valued at approximately $556,000.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $31,679,000. TFG Asset Management GP Ltd lifted its position in shares of ACADIA Pharmaceuticals by 50.8% during the second quarter. TFG Asset Management GP Ltd now owns 161,396 shares of the biopharmaceutical company’s stock worth $3,481,000 after acquiring an additional 54,396 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals by 2.8% in the second quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock worth $52,509,000 after acquiring an additional 65,914 shares during the period. SG Americas Securities LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 613.4% in the third quarter. SG Americas Securities LLC now owns 39,680 shares of the biopharmaceutical company’s stock worth $847,000 after acquiring an additional 34,118 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of ACADIA Pharmaceuticals by 210.1% in the third quarter. GSA Capital Partners LLP now owns 75,902 shares of the biopharmaceutical company’s stock valued at $1,620,000 after purchasing an additional 51,428 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, EVP Jennifer J. Rhodes sold 6,950 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $23.38, for a total transaction of $162,491.00. Following the completion of the transaction, the executive vice president directly owned 7,609 shares in the company, valued at approximately $177,898.42. This trade represents a 47.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 28.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ACAD shares. Royal Bank Of Canada dropped their price objective on ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Citigroup lifted their price target on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Mizuho upgraded shares of ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $29.00 to $35.00 in a research report on Monday, February 23rd. Citizens Jmp upped their target price on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.21.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $22.16 on Monday. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $28.35. The stock has a market capitalization of $3.78 billion, a P/E ratio of 9.68, a P/E/G ratio of 19.57 and a beta of 0.66. The company’s 50-day moving average is $25.01 and its 200 day moving average is $24.36.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $1.48. The company had revenue of $298.00 million during the quarter, compared to analysts’ expectations of $292.54 million. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. Research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

About ACADIA Pharmaceuticals

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.