Point72 Asset Management L.P. acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 671,009 shares of the biopharmaceutical company’s stock, valued at approximately $28,706,000. Point72 Asset Management L.P. owned about 0.44% of ACADIA Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 672.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 860,797 shares of the biopharmaceutical company’s stock worth $36,825,000 after acquiring an additional 749,288 shares in the last quarter. Great Point Partners LLC boosted its position in ACADIA Pharmaceuticals by 46.0% during the third quarter. Great Point Partners LLC now owns 2,190,742 shares of the biopharmaceutical company’s stock valued at $78,845,000 after purchasing an additional 690,742 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of ACADIA Pharmaceuticals by 752.0% during the fourth quarter. Renaissance Technologies LLC now owns 731,000 shares of the biopharmaceutical company’s stock worth $31,272,000 after purchasing an additional 645,200 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of ACADIA Pharmaceuticals by 170.6% during the third quarter. Pictet Asset Management Ltd. now owns 970,250 shares of the biopharmaceutical company’s stock worth $34,919,000 after purchasing an additional 611,750 shares during the period. Finally, State Street Corp increased its stake in shares of ACADIA Pharmaceuticals by 15.9% during the fourth quarter. State Street Corp now owns 4,003,677 shares of the biopharmaceutical company’s stock worth $171,277,000 after purchasing an additional 548,277 shares during the period. Institutional investors and hedge funds own 96.10% of the company’s stock.

ACAD remained flat at $$38.06 on Wednesday. 1,166,652 shares of the company’s stock traded hands, compared to its average volume of 1,460,520. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.16 and a quick ratio of 10.08. ACADIA Pharmaceuticals Inc. has a twelve month low of $21.56 and a twelve month high of $53.70. The business has a 50-day simple moving average of $40.89 and a two-hundred day simple moving average of $41.91. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of -23.79 and a beta of 2.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($0.34) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. ACADIA Pharmaceuticals had a negative net margin of 69.38% and a negative return on equity of 42.86%. The company had revenue of $98.33 million for the quarter, compared to analyst estimates of $95.87 million. On average, analysts anticipate that ACADIA Pharmaceuticals Inc. will post -1.87 earnings per share for the current year.

In other ACADIA Pharmaceuticals news, Director Laura Brege sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $42.19, for a total value of $421,900.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $421,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bros. Advisors Lp Baker acquired 1,050,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was purchased at an average cost of $33.30 per share, for a total transaction of $34,965,000.00. The disclosure for this purchase can be found here. Insiders own 29.40% of the company’s stock.

ACAD has been the topic of several recent analyst reports. Citigroup initiated coverage on ACADIA Pharmaceuticals in a research note on Thursday, March 5th. They issued a “buy” rating and a $69.00 price target on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday, November 26th. JPMorgan Chase & Co. set a $50.00 target price on ACADIA Pharmaceuticals and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $75.00 target price (up previously from $70.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. ACADIA Pharmaceuticals has an average rating of “Buy” and a consensus target price of $53.75.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

Featured Story: Tariff

Want to see what other hedge funds are holding ACAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD).

Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Receive News & Ratings for ACADIA Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.