E Fund Management Co. Ltd. Has $717,000 Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

E Fund Management Co. Ltd. boosted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 32.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,893 shares of the biopharmaceutical company’s stock after purchasing an additional 5,605 shares during the quarter. E Fund Management Co. Ltd.’s holdings in ACADIA Pharmaceuticals were worth $717,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ACAD. China Universal Asset Management Co. Ltd. raised its stake in shares of ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 2,070 shares in the last quarter. Legato Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $206,000. Acadian Asset Management LLC bought a new stake in ACADIA Pharmaceuticals in the third quarter valued at about $184,000. First Hawaiian Bank bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $284,000. Finally, Xponance Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $299,000. 96.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ACAD. JPMorgan Chase & Co. lowered their price target on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Royal Bank of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Mizuho lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $39.00 to $25.00 in a report on Tuesday, March 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 9th. Finally, Robert W. Baird assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, January 30th. They issued an “outperform” rating and a $40.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.75.

Insider Activity at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 5,577 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the sale, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Mark C. Schneyer sold 3,503 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $59,340.82. Following the completion of the transaction, the chief financial officer now directly owns 32,053 shares of the company’s stock, valued at approximately $542,977.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 5,577 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The disclosure for this sale can be found here. Insiders have sold 89,116 shares of company stock valued at $1,625,639 over the last three months. 27.50% of the stock is owned by insiders.

ACADIA Pharmaceuticals Price Performance

ACAD stock traded down $0.12 during midday trading on Wednesday, reaching $17.13. 2,140,857 shares of the company were exchanged, compared to its average volume of 1,746,641. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -45.08 and a beta of 0.42. ACADIA Pharmaceuticals Inc. has a one year low of $16.16 and a one year high of $33.99. The business has a 50-day moving average price of $18.66 and a two-hundred day moving average price of $23.21.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The firm had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business’s revenue for the quarter was up 69.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.26) earnings per share. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Company Profile

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.