Hsbc Holdings PLC Makes New Investment in ACADIA Pharmaceuticals Inc. $ACAD

Hsbc Holdings PLC bought a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 38,862 shares of the biopharmaceutical company’s stock, valued at approximately $984,000.

A number of other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in shares of ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 386 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC raised its holdings in ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 1,005 shares during the last quarter. Federated Hermes Inc. raised its holdings in ACADIA Pharmaceuticals by 277.5% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $52,000. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $28.89 on Wednesday. The stock’s 50 day moving average is $27.05 and its 200 day moving average is $23.76. The firm has a market cap of $4.98 billion, a P/E ratio of 13.01, a P/E/G ratio of 21.56 and a beta of 0.81. ACADIA Pharmaceuticals Inc. has a one year low of $19.69 and a one year high of $30.96.

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

Insider Buying and Selling

In other news, EVP Mark C. Schneyer sold 14,292 shares of the 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 directly owned 67,828 shares in the company, valued at $1,981,934.16. This represents a 17.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, July 30th. The stock was 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 of the company’s stock, valued at $496,313.22. This represents a 46.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,699 shares of company stock worth $1,019,894 in the last 90 days. Corporate insiders own 26.20% of the company’s stock.

Analyst Upgrades and Downgrades

ACAD has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 25th. Stifel Nicolaus raised their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. HC Wainwright reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 6th. Finally, UBS Group increased their price objective on ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the company a “buy” rating in a report on Monday, August 17th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.36.

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.