Sector Gamma AS Has $5.89 Million Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Sector Gamma AS boosted its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 4.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 188,111 shares of the biopharmaceutical company’s stock after buying an additional 8,326 shares during the period. ACADIA Pharmaceuticals makes up 1.4% of Sector Gamma AS’s portfolio, making the stock its 24th largest holding. Sector Gamma AS’s holdings in ACADIA Pharmaceuticals were worth $5,890,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State of New Jersey Common Pension Fund D grew its position in shares of ACADIA Pharmaceuticals by 21.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 112,270 shares of the biopharmaceutical company’s stock worth $3,515,000 after purchasing an additional 19,703 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in ACADIA Pharmaceuticals by 2.3% in the 4th quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock valued at $990,000 after purchasing an additional 700 shares during the last quarter. Xponance Inc. bought a new position in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $299,000. Mackenzie Financial Corp increased its position in ACADIA Pharmaceuticals by 291.9% in the 4th quarter. Mackenzie Financial Corp now owns 52,979 shares of the biopharmaceutical company’s stock valued at $1,659,000 after acquiring an additional 39,460 shares during the period. Finally, Strs Ohio increased its position in ACADIA Pharmaceuticals by 6.1% in the 4th quarter. Strs Ohio now owns 47,100 shares of the biopharmaceutical company’s stock valued at $1,474,000 after acquiring an additional 2,700 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock traded up $0.40 during trading hours on Friday, reaching $16.71. The company’s stock had a trading volume of 1,168,199 shares, compared to its average volume of 1,346,613. ACADIA Pharmaceuticals Inc. has a one year low of $16.16 and a one year high of $33.99. The company has a market capitalization of $2.75 billion, a P/E ratio of -43.97 and a beta of 0.37. The stock’s fifty day simple moving average is $19.94 and its two-hundred day simple moving average is $23.55.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. During the same period last year, the business posted ($0.26) earnings per share. The firm’s quarterly revenue was up 69.3% on a year-over-year basis. As a group, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares of the company’s stock, valued at $234,097. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider James Kihara sold 1,790 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares of the company’s stock, valued at $234,097. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 26,574 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $474,877.38. Following the transaction, the chief executive officer now directly owns 144,267 shares in the company, valued at $2,578,051.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,383 shares of company stock valued at $1,291,362. Corporate insiders own 27.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ACAD shares. Oppenheimer restated a “market perform” rating and issued a $25.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. Royal Bank of Canada decreased their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. TheStreet upgraded shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

About ACADIA Pharmaceuticals

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.