ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 572,170 shares of the biopharmaceutical company’s stock after selling 12,542 shares during the quarter. Bank of New York Mellon Corp owned about 0.35% of ACADIA Pharmaceuticals worth $10,768,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ACAD. China Universal Asset Management Co. Ltd. grew its holdings in ACADIA Pharmaceuticals by 33.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,198 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 553 shares during the last quarter. CWM LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 7,783.3% during the first quarter. CWM LLC now owns 2,365 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 2,335 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 169.0% during the first quarter. Nisa Investment Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 1,960 shares during the last quarter. State of Wyoming acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $92,000. Finally, Point72 Hong Kong Ltd boosted its holdings in shares of ACADIA Pharmaceuticals by 664.7% during the first quarter. Point72 Hong Kong Ltd now owns 6,003 shares of the biopharmaceutical company’s stock worth $145,000 after purchasing an additional 5,218 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $27.79 on Friday. The business has a 50-day moving average of $27.61 and a 200-day moving average of $23.36. The company has a market capitalization of $4.55 billion, a PE ratio of -39.16 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.73 and a 1-year high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.13. The company had revenue of $165.20 million during the quarter, compared to the consensus estimate of $163.86 million. ACADIA Pharmaceuticals had a negative return on equity of 27.77% and a negative net margin of 20.11%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share. On average, equities analysts expect that ACADIA Pharmaceuticals Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Laura Brege sold 4,500 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $24.87, for a total transaction of $111,915.00. Following the completion of the sale, the director now directly owns 13,502 shares in the company, valued at $335,794.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Laura Brege sold 4,500 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $24.87, for a total value of $111,915.00. Following the completion of the transaction, the director now directly owns 13,502 shares in the company, valued at $335,794.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 2,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $24.15, for a total value of $48,300.00. Following the completion of the transaction, the insider now owns 9,144 shares of the company’s stock, valued at $220,827.60. The disclosure for this sale can be found here. Insiders sold 133,972 shares of company stock worth $3,891,034 over the last ninety days. Corporate insiders own 27.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada raised their price objective on ACADIA Pharmaceuticals from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. JMP Securities increased their target price on ACADIA Pharmaceuticals from $31.00 to $39.00 and gave the stock a “market outperform” rating in a research report on Friday, July 14th. StockNews.com lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Citigroup increased their target price on ACADIA Pharmaceuticals from $21.60 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, July 14th. Finally, Canaccord Genuity Group cut their target price on ACADIA Pharmaceuticals from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.81.

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