Baker Bros. Advisors LP recently announced the acquisition of new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). The institutional investor has increased its shareholding in the Healthcare company by 0.44% to 42.11 million shares with purchase of 0.19 million shares. This fresh investment now brings its stake to 26.01% valued currently at $871.24 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.34 million to 12.95 million shares. And BlackRock Fund Advisors has lifted its position by 4.89% or 0.4 million shares – to 8.6 million shares.
With over 6.51 million ACADIA Pharmaceuticals Inc. (ACAD) shares trading Monday and a closing price of $19.41 on the day, the dollar volume was approximately $126.32 million. The shares have shown a positive half year performance of 11.68% and its price on 03/13/23 lost nearly -4.71%. Currently, there are 161.99M common shares owned by the public and among those 161.70M shares have been available to trade.
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Insiders at the company have transacted a total of 30 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 138,995 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 34,974 shares.
The top 3 mutual fund holders in ACADIA Pharmaceuticals Inc. are SPDR S&P Biotech ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. SPDR S&P Biotech ETF owns 4.72 million shares of the company’s stock, all valued at over $97.64 million. The company sold 41670.0 shares recently to bring their total holdings to about 2.91% of the shares outstanding. Vanguard Total Stock Market Index bought 7814.0 shares to see its total holdings expand to 3.73 million shares valued at over $77.12 million and representing 2.30% of the shares outstanding. Vanguard Small Cap Index Fund bought 17152.0 shares to bring its total holdings to over 3.15 million shares at a value of $65.1 million. Vanguard Small Cap Index Fund now owns shares totaling to 1.94% of the shares outstanding.
Shares of ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) opened at $20.07, down -$0.3 from a prior closing price of $20.37. However, the script later moved the day high at 20.10, down -4.71%. The company’s stock has a 5-day price change of -5.91% and 32.67% over the past three months. ACAD shares are trading 21.92% year to date (YTD), with the 12-month market performance down to -24.71% lower. It has a 12-month low price of $12.24 and touched a high of $28.06 over the same period. ACAD has an average intraday trading volume of 1.35 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.52%, 3.23%, and 16.40% respectively.
Institutional ownership of ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) shares accounts for 94.90% of the company’s 161.99M shares outstanding. Mutual fund holders own 33.73%, while other institutional holders and individual stakeholders account for 62.12% and 32.40% respectively.
It has a market capitalization of $3.17B and a beta (3y monthly) value of 0.56. The earnings-per-share (ttm) stands at -$1.34. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.36% over the week and 3.72% over the month.
Analysts forecast that ACADIA Pharmaceuticals Inc. (ACAD) will achieve an EPS of -$0.24 for the current quarter, -$0.32 for the next quarter and -$0.88 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.37 while analysts give the company a high EPS estimate of -$0.15. Comparatively, EPS for the current quarter was -$0.27 a year ago. Earnings per share for the fiscal year are expected to decrease by -27.70%, and 113.50% over the next financial year. EPS should grow at an annualized rate of 25.00% over the next five years, compared to 5.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate ACADIA Pharmaceuticals Inc. (ACAD) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 11 of the 21 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the ACAD, a number of firms have released research notes about the stock. Guggenheim stated their Buy rating for the stock in a research note on January 03, 2023, with the firm’s price target at $22. Goldman coverage for the ACADIA Pharmaceuticals Inc. (ACAD) stock in a research note released on November 04, 2022 offered a Sell rating with a price target of $12. Loop Capital was of a view on November 01, 2022 that the stock is Hold, while Citigroup gave the stock Neutral rating on August 08, 2022, issuing a price target of $19- $15. Citigroup on their part issued Neutral rating on August 05, 2022.
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