Burney Co. Takes Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Burney Co. acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the fourth quarter, Holdings Channel.com reports. The fund acquired 378,903 shares of the biopharmaceutical company’s stock, valued at approximately $6,953,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACAD. Barclays PLC grew its stake in shares of ACADIA Pharmaceuticals by 126.2% in the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock valued at $4,269,000 after buying an additional 154,854 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in ACADIA Pharmaceuticals during the third quarter worth $483,000. Fred Alger Management LLC raised its position in ACADIA Pharmaceuticals by 19.8% in the second quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock valued at $43,947,000 after purchasing an additional 446,875 shares during the period. BNP Paribas Financial Markets raised its position in ACADIA Pharmaceuticals by 259.0% in the third quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock valued at $3,439,000 after purchasing an additional 161,331 shares during the period. Finally, US Bancorp DE lifted its stake in shares of ACADIA Pharmaceuticals by 2,084.0% in the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock valued at $507,000 after purchasing an additional 31,426 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ACAD shares. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Guggenheim lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.25.

Insider Transactions at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,073 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the transaction, the insider now directly owns 19,863 shares of the company’s stock, valued at $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brendan Teehan sold 10,329 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $173,630.49. Following the sale, the chief operating officer now directly owns 62,105 shares in the company, valued at approximately $1,043,985.05. The trade was a 14.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Stock Up 1.1 %

Shares of NASDAQ:ACAD opened at $17.08 on Wednesday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $29.29. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 21.90 and a beta of 0.37. The firm’s 50 day moving average price is $17.19 and its 200 day moving average price is $16.50.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. On average, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current year.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.