Quantbot Technologies LP Purchases New Shares in ACADIA Pharmaceuticals Inc. $ACAD

Quantbot Technologies LP acquired a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 26,064 shares of the biopharmaceutical company’s stock, valued at approximately $556,000.

A number of other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 11.2% in the third quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 534 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of ACADIA Pharmaceuticals by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company’s stock valued at $1,964,000 after purchasing an additional 626 shares in the last quarter. GAMMA Investing LLC boosted its holdings in ACADIA Pharmaceuticals by 25.8% during the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 690 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in ACADIA Pharmaceuticals by 113.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 756 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in ACADIA Pharmaceuticals by 107.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 885 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ACAD shares. Piper Sandler set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, January 5th. Bank of America reaffirmed a “neutral” rating and set a $29.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, March 2nd. JPMorgan Chase & Co. lifted their price target on ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Finally, Wall Street Zen cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.21.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Jennifer J. Rhodes sold 6,950 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $23.38, for a total transaction of $162,491.00. Following the completion of the transaction, the executive vice president owned 7,609 shares in the company, valued at approximately $177,898.42. This represents a 47.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.30% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Trading Down 1.1%

NASDAQ:ACAD opened at $22.16 on Monday. The stock has a market capitalization of $3.78 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 19.57 and a beta of 0.66. The firm’s 50 day moving average is $25.01 and its 200 day moving average is $24.36. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $0.12 by $1.48. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The business had revenue of $298.00 million during the quarter, compared to analyst estimates of $292.54 million. During the same period in the prior year, the company earned $0.86 earnings per share. ACADIA Pharmaceuticals’s revenue was up 9.4% compared to the same quarter last year. Research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.