ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,325 shares of the biopharmaceutical company’s stock after purchasing an additional 7,491 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.06% of ACADIA Pharmaceuticals worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ACAD. Commonwealth Equity Services LLC grew its holdings in ACADIA Pharmaceuticals by 5.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 778 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at about $111,000. American Century Companies Inc. increased its position in ACADIA Pharmaceuticals by 76.7% during the second quarter. American Century Companies Inc. now owns 73,148 shares of the biopharmaceutical company’s stock worth $1,189,000 after purchasing an additional 31,762 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in ACADIA Pharmaceuticals by 10.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 29,557 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 2,842 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of ACADIA Pharmaceuticals by 1.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 107,543 shares of the biopharmaceutical company’s stock valued at $1,748,000 after buying an additional 1,964 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $17.57 on Friday. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 22.53 and a beta of 0.37. The stock’s 50-day moving average is $17.22 and its two-hundred day moving average is $16.53. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.15 and a 1-year high of $29.29.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. During the same period in the prior year, the firm earned ($0.40) earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. Equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In other news, insider James Kihara sold 4,073 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the transaction, the insider now owns 19,863 shares in the company, valued at approximately $333,897.03. This represents a 17.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brendan Teehan sold 10,329 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $173,630.49. Following the sale, the chief operating officer now directly owns 62,105 shares in the company, valued at $1,043,985.05. This trade represents a 14.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,661 shares of company stock worth $414,551. 28.30% of the stock is currently owned by corporate insiders.

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.