First Trust Advisors LP Buys 1,073,834 Shares of ACADIA Pharmaceuticals Inc. $ACAD

First Trust Advisors LP boosted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 47.3% during the first quarter, Holdings Channel.com reports. The firm owned 3,343,868 shares of the biopharmaceutical company’s stock after purchasing an additional 1,073,834 shares during the quarter. First Trust Advisors LP’s holdings in ACADIA Pharmaceuticals were worth $74,435,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of 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 worth $70,222,000 after buying an additional 234,186 shares during the last quarter. Swiss National Bank lifted its holdings in shares of ACADIA Pharmaceuticals by 0.6% during the 1st quarter. Swiss National Bank now owns 234,404 shares of the biopharmaceutical company’s stock valued at $5,218,000 after purchasing an additional 1,500 shares during the last quarter. Bessemer Group Inc. increased its position in ACADIA Pharmaceuticals by 21,126.8% during the 1st quarter. Bessemer Group Inc. now owns 150,498 shares of the biopharmaceutical company’s stock valued at $3,350,000 after buying an additional 149,789 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in ACADIA Pharmaceuticals by 44.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 954,855 shares of the biopharmaceutical company’s stock valued at $21,312,000 after buying an additional 296,042 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in ACADIA Pharmaceuticals by 12.7% in the first quarter. Illinois Municipal Retirement Fund now owns 71,183 shares of the biopharmaceutical company’s stock valued at $1,585,000 after buying an additional 7,996 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $24.84 on Friday. The firm’s fifty day moving average is $23.23 and its 200 day moving average is $23.25. ACADIA Pharmaceuticals Inc. has a one year low of $19.69 and a one year high of $28.35. The firm has a market cap of $4.25 billion, a PE ratio of 11.29, a P/E/G ratio of 17.22 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The business had revenue of $268.10 million during the quarter, compared to analyst estimates of $280.25 million. During the same period in the previous year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada boosted their price target on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Bank of America upped their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. BMO Capital Markets upped their price target on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, June 29th. Thirteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.17.

Insider Buying and Selling

In other news, insider James Kihara sold 5,401 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 24,509 shares in the company, valued at $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark C. Schneyer sold 3,506 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the sale, the executive vice president owned 66,145 shares of the company’s stock, valued at $1,441,299.55. The trade was a 5.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,239 shares of company stock valued at $219,813 in the last three months. Insiders own 26.20% of the company’s stock.

ACADIA Pharmaceuticals Company 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.