Virtus Advisers LLC Makes New $1.12 Million Investment in ACADIA Pharmaceuticals Inc. $ACAD

Virtus Advisers LLC purchased a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 44,384 shares of the biopharmaceutical company’s stock, valued at approximately $1,123,000.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in ACADIA Pharmaceuticals during the 2nd quarter worth about $569,634,000. Norges Bank purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $40,266,000. Millennium Management LLC increased its stake in ACADIA Pharmaceuticals by 2,052.1% during the third quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock worth $31,652,000 after purchasing an additional 1,414,315 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of ACADIA Pharmaceuticals by 390.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after purchasing an additional 1,312,426 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of ACADIA Pharmaceuticals by 47.3% during the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock worth $74,435,000 after purchasing an additional 1,073,834 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 3.9%

Shares of NASDAQ:ACAD opened at $29.04 on Friday. The firm has a 50 day simple moving average of $25.79 and a 200-day simple moving average of $23.44. ACADIA Pharmaceuticals Inc. has a twelve month low of $19.69 and a twelve month high of $30.96. The company has a market capitalization of $5.00 billion, a PE ratio of 13.08, a P/E/G ratio of 23.79 and a beta of 0.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The business had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $296.55 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.59 EPS for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 14,292 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the sale, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. This trade represents a 17.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the firm’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 value of $432,660.54. Following the completion of the sale, the executive vice president directly owned 18,994 shares of the company’s stock, valued at $496,313.22. This represents a 46.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 42,100 shares of company stock worth $1,134,287. Company insiders own 26.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACAD. Citigroup increased their target price on shares of ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Stifel Nicolaus upped their price objective on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Wall Street Zen raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. Finally, Royal Bank Of Canada lifted their target price on ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.19.

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.