Bank of Montreal Can Acquires Shares of 96,225 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Bank of Montreal Can bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 96,225 shares of the biopharmaceutical company’s stock, valued at approximately $1,570,000. Bank of Montreal Can owned 0.06% of ACADIA Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Covestor Ltd boosted its holdings in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 840 shares during the period. Headlands Technologies LLC purchased a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at $48,000. Acadian Asset Management LLC acquired a new stake in ACADIA Pharmaceuticals during the 2nd quarter valued at $111,000. Shell Asset Management Co. increased its stake in ACADIA Pharmaceuticals by 65.7% during the 1st quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 2,909 shares during the period. Finally, DNB Asset Management AS acquired a new position in ACADIA Pharmaceuticals in the 2nd quarter worth $165,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares in the company, valued at approximately $2,850,560.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,014 shares of company stock worth $779,494. 28.30% of the stock is owned by insiders.

ACADIA Pharmaceuticals Stock Up 2.6 %

ACAD opened at $15.10 on Friday. The company’s 50-day moving average price is $16.31 and its 200 day moving average price is $16.49. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.55 and a fifty-two week high of $32.59. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -1,510.00, a price-to-earnings-growth ratio of 0.55 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $241.96 million for the quarter, compared to analysts’ expectations of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The business’s quarterly revenue was up 46.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. Research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

ACAD has been the subject of several recent analyst reports. UBS Group lowered their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada dropped their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets started coverage on ACADIA Pharmaceuticals in a research report on Thursday, June 27th. They issued an “outperform” rating and a $31.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 8th. Finally, Morgan Stanley cut shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $28.00 to $20.00 in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.56.

ACADIA Pharmaceuticals 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.