ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACADFree Report) by 5.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,605 shares of the biopharmaceutical company’s stock after selling 850 shares during the quarter. Commonwealth Equity Services LLC’s holdings in ACADIA Pharmaceuticals were worth $284,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ACAD. Nemes Rush Group LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $48,000. State of Wyoming purchased a new position in ACADIA Pharmaceuticals in the 4th quarter valued at $92,000. Lazard Asset Management LLC raised its position in ACADIA Pharmaceuticals by 35.8% during the 2nd quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock worth $98,000 after buying an additional 1,088 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth $133,000. Finally, Point72 Hong Kong Ltd boosted its holdings in shares of ACADIA Pharmaceuticals by 664.7% in the first quarter. Point72 Hong Kong Ltd now owns 6,003 shares of the biopharmaceutical company’s stock valued at $145,000 after acquiring an additional 5,218 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $26.83 on Wednesday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $17.71 and a fifty-two week high of $33.99. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -29.16 and a beta of 0.59. The stock has a fifty day moving average of $27.04 and a two-hundred day moving average of $26.04.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.03. ACADIA Pharmaceuticals had a negative return on equity of 38.84% and a negative net margin of 23.55%. The business had revenue of $211.70 million for the quarter, compared to analyst estimates of $194.40 million. On average, analysts forecast that ACADIA Pharmaceuticals Inc. will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Stephen Davis sold 3,732 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $29.96, for a total value of $111,810.72. Following the completion of the transaction, the chief executive officer now owns 96,521 shares of the company’s stock, valued at $2,891,769.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 4,960 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $22.64, for a total value of $112,294.40. Following the sale, the chief operating officer now directly owns 30,393 shares of the company’s stock, valued at approximately $688,097.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen Davis sold 3,732 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $29.96, for a total value of $111,810.72. Following the completion of the sale, the chief executive officer now owns 96,521 shares of the company’s stock, valued at approximately $2,891,769.16. The disclosure for this sale can be found here. Insiders have sold 19,106 shares of company stock valued at $480,868 in the last ninety days. Insiders own 27.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ACAD. Stifel Nicolaus raised their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, December 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $42.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, December 14th. JPMorgan Chase & Co. upgraded ACADIA Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $29.00 to $32.00 in a research report on Tuesday, October 10th. Citigroup started coverage on shares of ACADIA Pharmaceuticals in a research report on Wednesday, December 13th. They set a “buy” rating and a $38.00 target price on the stock. Finally, UBS Group assumed coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, October 17th. They set a “buy” rating and a $33.00 price target on the stock. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $36.26.

View Our Latest Analysis on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Profile

(Free Report)

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. It offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

Further Reading

Want to see what other hedge funds are holding ACAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ACADIA Pharmaceuticals Inc. (NASDAQ:ACADFree Report).

Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Receive News & Ratings for ACADIA Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.