Edgestream Partners L.P. Sells 124,911 Shares of ACADIA Pharmaceuticals Inc. $ACAD

by · The Markets Daily

Edgestream Partners L.P. lowered its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Free Report) by 39.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 191,328 shares of the biopharmaceutical company’s stock after selling 124,911 shares during the period. Edgestream Partners L.P.’s holdings in ACADIA Pharmaceuticals were worth $4,259,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ACAD. State Street Corp raised its position in ACADIA Pharmaceuticals by 9.0% during the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock valued at $211,296,000 after acquiring an additional 655,257 shares in the last quarter. First Trust Advisors LP lifted its stake in ACADIA Pharmaceuticals by 47.3% in the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock valued at $74,435,000 after acquiring an additional 1,073,834 shares during the last quarter. Geode Capital Management LLC grew its position in ACADIA Pharmaceuticals by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock worth $86,539,000 after acquiring an additional 106,807 shares in the last quarter. Dimensional Fund Advisors LP grew its position in ACADIA Pharmaceuticals by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company’s stock worth $70,222,000 after acquiring an additional 234,186 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of ACADIA Pharmaceuticals by 19.8% during the 3rd quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock worth $50,339,000 after purchasing an additional 389,170 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ACAD shares. Citigroup raised their price target on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, June 29th. Stifel Nicolaus upped their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Royal Bank Of Canada upped their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Finally, Canaccord Genuity Group raised their target price on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, June 29th. Thirteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.31.

View Our Latest Analysis on ACADIA Pharmaceuticals

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total value of $76,395.74. Following the transaction, the executive vice president owned 66,145 shares in the company, valued at $1,441,299.55. This trade represents a 5.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. This represents a 46.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 26,797 shares of company stock worth $652,474. 26.20% of the stock is owned by insiders.

ACADIA Pharmaceuticals Stock Down 2.6%

Shares of ACADIA Pharmaceuticals stock opened at $25.87 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $19.69 and a 12-month high of $28.35. The stock has a 50 day moving average price of $23.74 and a two-hundred day moving average price of $23.23. The stock has a market capitalization of $4.43 billion, a P/E ratio of 11.76, a PEG ratio of 18.41 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The firm had revenue of $268.10 million during the quarter, compared to the consensus estimate of $280.25 million. During the same period in the prior year, the business earned $0.11 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current year.

ACADIA Pharmaceuticals Profile

(Free Report)

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.

Further Reading

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