Nuveen Asset Management LLC Cuts Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Nuveen Asset Management LLC lowered its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) by 15.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 928,973 shares of the biopharmaceutical company’s stock after selling 167,229 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.57% of ACADIA Pharmaceuticals worth $15,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC boosted its stake in ACADIA Pharmaceuticals by 45.3% in the third quarter. Exchange Traded Concepts LLC now owns 3,937 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 1,228 shares in the last quarter. IFP Advisors Inc boosted its stake in ACADIA Pharmaceuticals by 284.6% in the third quarter. IFP Advisors Inc now owns 2,027 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,500 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in ACADIA Pharmaceuticals in the third quarter worth approximately $25,000. Guggenheim Capital LLC boosted its stake in ACADIA Pharmaceuticals by 16.6% in the first quarter. Guggenheim Capital LLC now owns 10,753 shares of the biopharmaceutical company’s stock worth $261,000 after buying an additional 1,533 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in shares of ACADIA Pharmaceuticals by 7.0% during the third quarter. E Fund Management Co. Ltd. now owns 27,407 shares of the biopharmaceutical company’s stock valued at $448,000 after purchasing an additional 1,786 shares during the period. Hedge funds and other institutional investors own 92.79% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 1.4 %

ACAD opened at $20.63 on Tuesday. The stock has a fifty day simple moving average of $18.54 and a two-hundred day simple moving average of $16.94. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -15.40 and a beta of 0.59. ACADIA Pharmaceuticals Inc. has a 12-month low of $12.24 and a 12-month high of $28.06.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). ACADIA Pharmaceuticals had a negative net margin of 41.76% and a negative return on equity of 50.65%. The company had revenue of $136.49 million for the quarter, compared to the consensus estimate of $135.18 million. During the same quarter in the previous year, the business earned ($0.27) earnings per share. ACADIA Pharmaceuticals’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that ACADIA Pharmaceuticals Inc. will post -0.72 EPS for the current year.

Insider Activity

In other news, CEO Stephen Davis sold 3,904 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $17.13, for a total transaction of $66,875.52. Following the completion of the transaction, the chief executive officer now directly owns 84,633 shares in the company, valued at $1,449,763.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Laura Brege sold 12,500 shares of the stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $18.25, for a total transaction of $228,125.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 3,904 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $17.13, for a total value of $66,875.52. Following the sale, the chief executive officer now directly owns 84,633 shares in the company, valued at $1,449,763.29. The disclosure for this sale can be found here. Insiders sold 23,567 shares of company stock worth $427,672 over the last three months. 28.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citigroup increased their price objective on ACADIA Pharmaceuticals from $19.00 to $19.40 and gave the company a “neutral” rating in a research note on Tuesday, February 28th. Royal Bank of Canada increased their price objective on ACADIA Pharmaceuticals from $19.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, February 28th. JPMorgan Chase & Co. dropped their price objective on ACADIA Pharmaceuticals from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Monday, November 14th. Guggenheim raised ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, January 3rd. Finally, StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, December 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Hold” and an average price target of $20.52.

ACADIA Pharmaceuticals Company Profile

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ACADIA Pharmaceuticals, Inc operates as a biopharmaceutical company. It focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. The firm’s products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.