Y Intercept Hong Kong Ltd Invests $2.38 Million in ACADIA Pharmaceuticals Inc. $ACAD

Y Intercept Hong Kong Ltd bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 111,273 shares of the biopharmaceutical company’s stock, valued at approximately $2,375,000. Y Intercept Hong Kong Ltd owned approximately 0.07% of ACADIA Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in shares of ACADIA Pharmaceuticals by 113.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 756 shares during the last quarter. USA Financial Formulas purchased a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at $41,000. GAMMA Investing LLC raised its stake in shares of ACADIA Pharmaceuticals by 25.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 690 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in ACADIA Pharmaceuticals by 15.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,465 shares of the biopharmaceutical company’s stock valued at $139,000 after acquiring an additional 884 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in ACADIA Pharmaceuticals in the first quarter worth $186,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ACAD shares. Mizuho upped their price target on shares of ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Citigroup lifted their price target on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, December 29th. JPMorgan Chase & Co. dropped their price target on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Finally, Piper Sandler set a $37.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.16.

Insider Transactions at ACADIA Pharmaceuticals

In related news, Director James M. Daly sold 30,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $22.37, for a total value of $671,100.00. Following the completion of the sale, the director directly owned 4,041 shares in the company, valued at approximately $90,397.17. This trade represents a 88.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 4,084 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total transaction of $96,749.96. Following the sale, the insider directly owned 25,058 shares of the company’s stock, valued at approximately $593,624.02. This trade represents a 14.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 44,346 shares of company stock worth $1,010,957. 28.30% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Trading Up 1.5%

NASDAQ:ACAD traded up $0.38 during mid-day trading on Wednesday, hitting $26.58. 80,677 shares of the company’s stock were exchanged, compared to its average volume of 1,200,605. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $28.35. The firm has a market capitalization of $4.50 billion, a P/E ratio of 17.14, a PEG ratio of 6.58 and a beta of 0.68. The company has a 50 day simple moving average of $26.35 and a 200-day simple moving average of $24.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.14 by $0.28. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The company had revenue of $278.63 million for the quarter, compared to analyst estimates of $276.52 million. During the same quarter in the prior year, the company earned $0.20 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share 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.