Lazard Asset Management LLC Increases Stock Position in ACADIA Pharmaceuticals Inc. $ACAD

Lazard Asset Management LLC raised its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,297 shares of the biopharmaceutical company’s stock after acquiring an additional 20,075 shares during the period. Lazard Asset Management LLC’s holdings in ACADIA Pharmaceuticals were worth $5,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position 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 in the last quarter. Cetera Investment Advisers boosted its position in shares of ACADIA Pharmaceuticals by 2.7% in the 4th quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company’s stock valued at $437,000 after purchasing an additional 436 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of ACADIA Pharmaceuticals by 2.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company’s stock valued at $551,000 after purchasing an additional 501 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of ACADIA Pharmaceuticals by 2.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 28,666 shares of the biopharmaceutical company’s stock valued at $766,000 after purchasing an additional 566 shares during the period. Finally, Vise Technologies Inc. grew its stake in ACADIA Pharmaceuticals by 4.0% during the 3rd quarter. Vise Technologies Inc. now owns 15,367 shares of the biopharmaceutical company’s stock worth $328,000 after buying an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Canaccord Genuity Group lifted their price target on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Royal Bank Of Canada increased their price objective on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Stifel Nicolaus raised their target price 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. Bank of America reaffirmed a “buy” rating and issued a $14.50 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday. Finally, 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 research report on Tuesday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $32.31.

ACADIA Pharmaceuticals Stock Up 0.8%

NASDAQ ACAD opened at $26.55 on Friday. The firm has a market cap of $4.55 billion, a P/E ratio of 12.07, a P/E/G ratio of 18.26 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $28.35. The business’s 50-day moving average price is $23.65 and its 200 day moving average price is $23.21.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted 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 company had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Mark C. Schneyer sold 3,506 shares of the company’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 transaction of $76,395.74. Following the completion of the sale, the executive vice president owned 66,145 shares in the company, valued at $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Kihara sold 5,401 shares of the company’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 sale, the insider owned 24,509 shares of the company’s stock, valued at $519,100.62. This trade represents a 18.06% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 10,239 shares of company stock worth $219,813. Corporate insiders own 26.20% of the company’s stock.

ACADIA Pharmaceuticals 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.