5 Healthcare Stocks with Insider Buying

3. ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Number of Hedge Fund Holders: 29

California-based ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) ranks 3rd in our list of the healthcare stocks with insider buying. Baker Bros. Advisors Lp., with a director and 10% owner status, bought about 896,522.00 shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) at $25.33 per share in June. As of August 9 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was trading at $26.72.  Over the past 30 days ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has gained about 7.8%.

In August ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) posted second quarter results. GAAP EPS in the quarter came in at $0.01 beating estimates by $0.07. Revenue in the quarter jumped 22.8% year over year to $165.3 million, surpassing estimates by $7.46 million.

As of the end of the first quarter of 2023, 29 hedge funds out of the 943 funds tracked by Insider Monkey reported owning shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). The biggest stakeholder of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was Julian Baker and Felix Baker’s Baker Bros. Advisors with a $789 million stake in the company.