Dynamic Technology Lab Private Ltd Boosts Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Dynamic Technology Lab Private Ltd raised its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 46.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,870 shares of the biopharmaceutical company’s stock after buying an additional 5,997 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in ACADIA Pharmaceuticals were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ACAD. Empire Life Investments Inc. increased its stake 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 worth $5,473,000 after acquiring an additional 467 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of ACADIA Pharmaceuticals by 2.3% in the 4th quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock worth $990,000 after buying an additional 700 shares in the last quarter. Phocas Financial Corp. increased its holdings in shares of ACADIA Pharmaceuticals by 1.9% in the 4th quarter. Phocas Financial Corp. now owns 66,957 shares of the biopharmaceutical company’s stock worth $2,096,000 after buying an additional 1,266 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 1.1% in the 3rd quarter. Alps Advisors Inc. now owns 120,810 shares of the biopharmaceutical company’s stock worth $2,518,000 after buying an additional 1,274 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of ACADIA Pharmaceuticals by 18.1% during the 3rd quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock valued at $221,000 after buying an additional 1,630 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on ACAD shares. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. HC Wainwright reduced their price objective on shares of ACADIA Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Bank of America reduced their price target on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Royal Bank of Canada decreased their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $28.94.

ACADIA Pharmaceuticals Trading Down 1.8 %

Shares of NASDAQ ACAD opened at $15.54 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.65 and a 12-month high of $33.99. The stock’s fifty day simple moving average is $17.05 and its two-hundred day simple moving average is $22.64. The stock has a market capitalization of $2.57 billion, a PE ratio of -1,554.00 and a beta of 0.42.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $205.83 million for the quarter, compared to the consensus estimate of $208.31 million. During the same quarter last year, the company earned ($0.27) earnings per share. The firm’s revenue for the quarter was up 73.8% compared to the same quarter last year. On average, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the transaction, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 5,434 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $97,268.60. Following the transaction, the chief financial officer now owns 26,183 shares in the company, valued at approximately $468,675.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the sale, the chief executive officer now owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,116 shares of company stock worth $1,625,639. Corporate insiders own 28.30% of the company’s stock.

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.