Hennion & Walsh Asset Management Inc. Boosts Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Hennion & Walsh Asset Management Inc. lifted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 7.8% in the fourth quarter, Holdings Channel reports. The firm owned 103,325 shares of the biopharmaceutical company’s stock after acquiring an additional 7,491 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $1,896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ACAD. Park Place Capital Corp acquired a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $25,000. Values First Advisors Inc. acquired a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth $27,000. Quest Partners LLC grew its position in ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the last quarter. Stonepine Capital Management LLC acquired a new position in ACADIA Pharmaceuticals in the second quarter valued at $81,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of ACADIA Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,066 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 0.3 %

ACAD stock opened at $17.57 on Friday. The company’s 50-day moving average price is $17.22 and its 200 day moving average price is $16.53. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $29.29. The company has a market cap of $2.92 billion, a P/E ratio of 22.53 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. During the same quarter in the previous year, the company earned ($0.40) EPS. The company’s quarterly revenue was up 18.3% on a year-over-year basis. On average, equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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 sale, the insider now owns 19,863 shares of the company’s stock, valued at approximately $333,897.03. This represents a 17.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark C. Schneyer sold 10,259 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $172,453.79. Following the transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at $896,006.62. The trade was a 16.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,661 shares of company stock worth $414,551. 28.30% of the stock is owned by corporate insiders.

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.