SG Americas Securities LLC Raises Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

SG Americas Securities LLC increased its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 380.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,483,731 shares of the biopharmaceutical company’s stock after acquiring an additional 1,966,607 shares during the quarter. SG Americas Securities LLC owned approximately 1.49% of ACADIA Pharmaceuticals worth $45,576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACAD. Park Place Capital Corp purchased a new stake in ACADIA Pharmaceuticals in the 3rd quarter worth $25,000. Values First Advisors Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the third quarter worth $27,000. Quest Partners LLC grew its holdings in shares of ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 1,047 shares in the last quarter. Stonepine Capital Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth $81,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 1,066 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In related news, COO Brendan Teehan sold 10,329 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $173,630.49. Following the sale, the chief operating officer now owns 62,105 shares of the company’s stock, valued at $1,043,985.05. This trade represents a 14.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the sale, the insider now directly owns 19,863 shares in the company, valued at approximately $333,897.03. This trade represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $17.81 on Thursday. The firm’s 50-day moving average is $17.21 and its two-hundred day moving average is $16.58. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $29.29. The stock has a market capitalization of $2.96 billion, a P/E ratio of 22.83 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. During the same quarter last year, the firm posted ($0.40) earnings per share. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

ACADIA Pharmaceuticals 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.