Jupiter Topco LLC Buys Shares of 51,410 ACADIA Pharmaceuticals Inc. $ACAD

Jupiter Topco LLC purchased a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 51,410 shares of the biopharmaceutical company’s stock, valued at approximately $1,301,000.

Several other large investors also recently added to or reduced their stakes in ACAD. BlackRock Inc. bought a new position in ACADIA Pharmaceuticals in the 2nd quarter worth about $569,634,000. State Street Corp increased its holdings in ACADIA Pharmaceuticals by 9.0% in the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock valued at $211,296,000 after buying an additional 655,257 shares in the last quarter. First Trust Advisors LP grew its position in shares of ACADIA Pharmaceuticals by 47.3% in the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock valued at $74,435,000 after purchasing an additional 1,073,834 shares during the period. Geode Capital Management LLC lifted its stake in shares of ACADIA Pharmaceuticals by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock worth $86,539,000 after buying an additional 106,807 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in ACADIA Pharmaceuticals by 8.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company’s stock valued at $70,222,000 after purchasing an additional 234,186 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ACAD has been the topic of a number of research reports. Needham & Company LLC increased their target price on shares of ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. HC Wainwright restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 6th. Bank of America reaffirmed a “buy” rating and set a $14.50 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, July 29th. Royal Bank Of Canada increased their price target on ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group boosted their target price on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.36.

Insider Activity

In other news, EVP Elizabeth Thompson sold 16,558 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares in the company, valued at approximately $496,313.22. This represents a 46.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Schneyer sold 14,292 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the completion of the sale, the executive vice president owned 67,828 shares of the company’s stock, valued at approximately $1,981,934.16. This represents a 17.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,699 shares of company stock valued at $1,019,894 over the last three months. 26.20% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Stock Up 0.6%

Shares of ACAD opened at $28.02 on Friday. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $30.96. The firm has a market capitalization of $4.83 billion, a PE ratio of 12.62, a P/E/G ratio of 20.77 and a beta of 0.86. The firm has a 50-day moving average price of $27.30 and a 200 day moving average price of $23.88.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The company had revenue of $308.00 million during the quarter, compared to analyst estimates of $296.55 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.63 EPS for the current year.

ACADIA Pharmaceuticals Profile

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.