Advisors Asset Management Inc. lessened its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) by 13.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,491 shares of the biopharmaceutical company’s stock after selling 3,706 shares during the period. Advisors Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $345,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also bought and sold shares of ACAD. Strs Ohio raised its stake in ACADIA Pharmaceuticals by 21.7% in the second quarter. Strs Ohio now owns 67,200 shares of the biopharmaceutical company’s stock valued at $946,000 after buying an additional 12,000 shares during the period. Nisa Investment Advisors LLC bought a new stake in ACADIA Pharmaceuticals in the first quarter valued at approximately $152,000. Panagora Asset Management Inc. raised its stake in ACADIA Pharmaceuticals by 19.8% in the first quarter. Panagora Asset Management Inc. now owns 479,882 shares of the biopharmaceutical company’s stock valued at $11,623,000 after buying an additional 79,264 shares during the period. Diversified Trust Co raised its stake in ACADIA Pharmaceuticals by 26.2% in the second quarter. Diversified Trust Co now owns 26,309 shares of the biopharmaceutical company’s stock valued at $371,000 after buying an additional 5,464 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in ACADIA Pharmaceuticals in the first quarter valued at approximately $584,000. Institutional investors own 92.48% of the company’s stock.
In other news, CEO Stephen Davis sold 2,804 shares of the stock in a transaction on Saturday, October 15th. The stock was sold at an average price of $15.81, for a total value of $44,331.24. Following the completion of the transaction, the chief executive officer now directly owns 79,009 shares in the company, valued at approximately $1,249,132.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.40% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
ACADIA Pharmaceuticals Price Performance
NASDAQ ACAD opened at $15.15 on Friday. The business has a fifty day moving average price of $16.31 and a two-hundred day moving average price of $16.25. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $28.06. The stock has a market capitalization of $2.45 billion, a PE ratio of -11.22 and a beta of 0.60.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last released its earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. ACADIA Pharmaceuticals had a negative return on equity of 47.09% and a negative net margin of 42.49%. The firm had revenue of $130.70 million during the quarter, compared to analysts’ expectations of $139.04 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post -1.31 earnings per share for the current year.
ACADIA Pharmaceuticals Profile
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.
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