Nan Fung Group Holdings Ltd Takes Position in ACADIA Pharmaceuticals Inc. $ACAD

Nan Fung Group Holdings Ltd bought a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 102,984 shares of the biopharmaceutical company’s stock, valued at approximately $2,605,495,000. ACADIA Pharmaceuticals makes up 2.0% of Nan Fung Group Holdings Ltd’s holdings, making the stock its 14th biggest position. Nan Fung Group Holdings Ltd owned about 0.06% of ACADIA Pharmaceuticals as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC raised its holdings in shares of ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 1,005 shares during the period. Federated Hermes Inc. lifted its stake in ACADIA Pharmaceuticals by 277.5% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $52,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the transaction, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. The trade was a 17.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. The trade was a 46.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 36,699 shares of company stock worth $1,019,894 over the last quarter. Corporate insiders own 26.20% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $29.65 on Tuesday. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 23.23 and a beta of 0.81. ACADIA Pharmaceuticals Inc. has a 52 week low of $19.69 and a 52 week high of $30.96. The firm’s 50-day simple moving average is $26.12 and its 200 day simple moving average is $23.50.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.07 by $0.11. The company 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%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. Sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

ACAD has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 6th. Bank of America reaffirmed a “buy” rating and issued a $14.50 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, July 29th. UBS Group boosted their target price on ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Citigroup increased their price target on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Morgan Stanley set a $27.00 price target on ACADIA Pharmaceuticals in a report on Monday, August 10th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $34.19.

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.