Affinity Investment Advisors LLC Purchases Shares of 9,287 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Affinity Investment Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,287 shares of the biopharmaceutical company’s stock, valued at approximately $291,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACAD. Empire Life Investments Inc. lifted its position in ACADIA Pharmaceuticals by 0.3% in the 4th quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock valued at $5,473,000 after acquiring an additional 467 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in ACADIA Pharmaceuticals by 2.3% in the fourth quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock valued at $990,000 after acquiring an additional 700 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of ACADIA Pharmaceuticals by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock valued at $1,578,000 after buying an additional 803 shares during the last quarter. Quest Partners LLC bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $39,000. Finally, Phocas Financial Corp. increased its position in shares of ACADIA Pharmaceuticals by 1.9% during the fourth quarter. Phocas Financial Corp. now owns 66,957 shares of the biopharmaceutical company’s stock valued at $2,096,000 after buying an additional 1,266 shares during the period. Institutional investors own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Oppenheimer reiterated a “market perform” rating and issued a $19.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, May 6th. Morgan Stanley reduced their price objective on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 13th. Citigroup decreased their price target on ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Robert W. Baird cut their target price on shares of ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $28.94.

Insider Activity

In other news, COO Brendan Teehan sold 5,140 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $92,006.00. Following the transaction, the chief operating officer now directly owns 36,340 shares in the company, valued at approximately $650,486. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 5,140 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $92,006.00. Following the transaction, the chief operating officer now directly owns 36,340 shares in the company, valued at $650,486. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen Davis sold 17,714 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $317,080.60. Following the completion of the sale, the chief executive officer now owns 118,842 shares of the company’s stock, valued at $2,127,271.80. The disclosure for this sale can be found here. Insiders have sold a total of 89,116 shares of company stock valued at $1,625,639 in the last 90 days. 28.30% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Trading Up 3.3 %

ACADIA Pharmaceuticals stock traded up $0.50 during mid-day trading on Wednesday, hitting $15.77. The company had a trading volume of 1,284,960 shares, compared to its average volume of 1,792,461. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.65 and a 12 month high of $33.99. The stock’s 50 day moving average price is $17.19 and its two-hundred day moving average price is $22.73.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The business had revenue of $205.83 million for the quarter, compared to analysts’ expectations of $208.31 million. During the same period in the prior year, the firm posted ($0.27) EPS. The firm’s quarterly revenue was up 73.8% on a year-over-year basis. As a group, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.57 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Company Profile

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.