69,393 Shares in ACADIA Pharmaceuticals Inc. $ACAD Acquired by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 69,393 shares of the biopharmaceutical company’s stock, valued at approximately $1,756,000.

Other institutional investors also recently bought and sold shares of the company. Rice Hall James & Associates LLC acquired a new position in ACADIA Pharmaceuticals in the second quarter valued at $15,658,000. State of Wyoming acquired a new stake in ACADIA Pharmaceuticals in the 2nd quarter worth about $1,234,000. Bank of America Corp DE boosted its stake in ACADIA Pharmaceuticals by 27.2% in the 1st quarter. Bank of America Corp DE now owns 1,553,770 shares of the biopharmaceutical company’s stock worth $34,587,000 after buying an additional 332,325 shares during the last quarter. Norges Bank purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $40,266,000. Finally, GSA Capital Partners LLP purchased a new stake in ACADIA Pharmaceuticals in the 2nd quarter valued at about $1,783,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ACAD shares. Weiss Ratings upgraded shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Needham & Company LLC boosted their target price on shares of ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Stifel Nicolaus upped their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Morgan Stanley upped their price target on shares of ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, BMO Capital Markets increased their price target on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.36.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the transaction, the executive vice president owned 18,994 shares in the company, valued at approximately $496,313.22. The trade was a 46.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark C. Schneyer sold 14,292 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president directly owned 67,828 shares of the company’s stock, valued at approximately $1,981,934.16. This trade represents a 17.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,699 shares of company stock valued at $1,019,894 in the last three months. Company insiders own 26.20% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD opened at $29.11 on Friday. The stock has a 50-day simple moving average of $26.79 and a 200-day simple moving average of $23.67. The stock has a market capitalization of $5.02 billion, a P/E ratio of 13.11, a PEG ratio of 21.71 and a beta of 0.81. ACADIA Pharmaceuticals Inc. has a 1 year low of $19.69 and a 1 year high of $30.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly 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 firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. ACADIA Pharmaceuticals’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. Analysts predict that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current year.

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.