ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock Position Reduced by Millennium Management LLC

Millennium Management LLC lessened its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 45.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,118,361 shares of the biopharmaceutical company’s stock after selling 934,758 shares during the period. Millennium Management LLC’s holdings in ACADIA Pharmaceuticals were worth $20,522,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ACAD. R Squared Ltd bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $47,000. KBC Group NV lifted its holdings in shares of ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after purchasing an additional 2,044 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $168,000. Xponance Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $186,000. Finally, Vinva Investment Management Ltd bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $187,000. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 1.4%

NASDAQ:ACAD opened at $21.69 on Wednesday. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 27.81 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $25.23. The business’s fifty day moving average price is $16.11 and its 200 day moving average price is $17.19.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. Equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,000 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the transaction, the insider now owns 20,395 shares in the company, valued at $458,887.50. The trade was a 16.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 3,498 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $14.60, for a total value of $51,070.80. Following the completion of the transaction, the executive vice president now owns 62,773 shares in the company, valued at $916,485.80. This trade represents a 5.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,994 shares of company stock worth $453,131 over the last 90 days. 26.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ACAD has been the topic of several recent research reports. Needham & Company LLC raised their price target on ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday. HC Wainwright lifted their target price on ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday. Robert W. Baird lifted their target price on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday. StockNews.com downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $26.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.75.

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.