Garrison Point Advisors LLC Acquires New Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Garrison Point Advisors LLC bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,576 shares of the biopharmaceutical company’s stock, valued at approximately $163,000.

Several other hedge funds also recently modified their holdings of the business. Values First Advisors Inc. bought a new stake in ACADIA Pharmaceuticals in the third quarter worth $27,000. Allspring Global Investments Holdings LLC boosted its stake in shares of ACADIA Pharmaceuticals by 11.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 121,625 shares of the biopharmaceutical company’s stock worth $1,871,000 after acquiring an additional 12,787 shares in the last quarter. Creative Planning increased its holdings in shares of ACADIA Pharmaceuticals by 71.4% during the 3rd quarter. Creative Planning now owns 25,061 shares of the biopharmaceutical company’s stock valued at $385,000 after acquiring an additional 10,441 shares during the last quarter. Park Place Capital Corp bought a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at approximately $25,000. Finally, Handelsbanken Fonder AB boosted its position in ACADIA Pharmaceuticals by 16.7% during the third quarter. Handelsbanken Fonder AB now owns 47,633 shares of the biopharmaceutical company’s stock worth $733,000 after purchasing an additional 6,800 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ACAD. Cantor Fitzgerald dropped their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC cut their target price on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 8th. Morgan Stanley cut ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $28.00 to $20.00 in a research report on Wednesday, August 7th. Finally, UBS Group decreased their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $14.48 on Friday. The firm has a fifty day moving average of $15.58 and a 200-day moving average of $16.13. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $32.59. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -1,448.00, a P/E/G ratio of 0.49 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The firm had revenue of $241.96 million during the quarter, compared to analysts’ expectations of $235.95 million. During the same quarter last year, the company earned $0.01 earnings per share. The company’s revenue for the quarter was up 46.4% compared to the same quarter last year. On average, sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark C. Schneyer sold 9,733 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $148,720.24. Following the completion of the sale, the chief financial officer now owns 43,735 shares of the company’s stock, valued at $668,270.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,014 shares of company stock worth $779,494 over the last three months. Company insiders own 28.30% of the company’s stock.

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.