Nan Fung Group Holdings Ltd Buys New Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Nan Fung Group Holdings Ltd purchased a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 102,984 shares of the biopharmaceutical company’s stock, valued at approximately $2,605,495. ACADIA Pharmaceuticals accounts for about 0.0% of Nan Fung Group Holdings Ltd’s investment portfolio, making the stock its 14th biggest position. Nan Fung Group Holdings Ltd owned about 0.06% of ACADIA Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth approximately $569,634,000. State Street Corp grew its holdings in shares of ACADIA Pharmaceuticals by 9.0% in the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock valued at $211,296,000 after purchasing an additional 655,257 shares in the last quarter. First Trust Advisors LP grew its stake in ACADIA Pharmaceuticals by 47.3% during the 1st quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock worth $74,435,000 after buying an additional 1,073,834 shares during the last quarter. Geode Capital Management LLC grew its position in ACADIA Pharmaceuticals by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock worth $86,539,000 after buying an additional 106,807 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of ACADIA Pharmaceuticals by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company’s stock worth $70,222,000 after purchasing an additional 234,186 shares during the period. Institutional investors own 96.71% of the company’s stock.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the transaction, the executive vice president owned 67,828 shares in the company, valued at approximately $1,981,934.16. The trade was a 17.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 that occurred 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 completion of the transaction, the executive vice president owned 18,994 shares of the company’s stock, valued at $496,313.22. This trade represents a 46.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 36,699 shares of company stock valued at $1,019,894. Company insiders own 26.20% of the company’s stock.

Analyst Upgrades and Downgrades

ACAD has been the subject of several research reports. Stifel Nicolaus raised their target price on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research note 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 report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday. BMO Capital Markets raised their price target on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.36.

ACADIA Pharmaceuticals Trading Down 2.0%

Shares of ACAD traded down $0.59 during midday trading on Friday, reaching $29.14. 949,202 shares of the company were exchanged, compared to its average volume of 1,665,024. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 22.06 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. The stock has a 50-day moving average price of $26.64 and a 200-day moving average price of $23.63.

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 business had revenue of $308.00 million for the quarter, compared to analysts’ expectations 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 was up 16.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. Equities research analysts anticipate 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.