Ishara Investments LP Acquires New Shares in ACADIA Pharmaceuticals Inc. $ACAD

Ishara Investments LP acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 160,000 shares of the biopharmaceutical company’s stock, valued at approximately $4,274,000. ACADIA Pharmaceuticals comprises about 4.9% of Ishara Investments LP’s portfolio, making the stock its 5th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 885 shares during the last quarter. Transamerica Financial Advisors LLC lifted its holdings in ACADIA Pharmaceuticals by 304.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 1,005 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in ACADIA Pharmaceuticals by 277.5% in the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,185 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Mark C. Schneyer sold 3,506 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the sale, the executive vice president owned 66,145 shares of the company’s stock, valued at approximately $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 5,401 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the sale, the insider directly owned 24,509 shares in the company, valued at $519,100.62. This represents a 18.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,978 shares of company stock worth $302,819 in the last ninety days. Corporate insiders own 26.20% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 3.2%

ACADIA Pharmaceuticals stock opened at $21.60 on Thursday. ACADIA Pharmaceuticals Inc. has a twelve month low of $19.69 and a twelve month high of $28.35. The stock’s fifty day simple moving average is $21.70 and its 200-day simple moving average is $23.59. The firm has a market capitalization of $3.70 billion, a P/E ratio of 9.82, a P/E/G ratio of 26.29 and a beta of 0.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The company had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. During the same period in the prior year, the company posted $0.11 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.37 earnings per share for the current year.

Analysts Set New Price Targets

ACAD has been the topic of a number of research analyst reports. Mizuho raised ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $29.00 to $35.00 in a research report on Monday, February 23rd. JPMorgan Chase & Co. boosted their target price on ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Citizens Jmp boosted their target price on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a research report on Thursday, February 26th. Royal Bank Of Canada cut their target price on ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Bank of America raised ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Wednesday, March 25th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.63.

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.