Federated Hermes Inc. Sells 17,374 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Federated Hermes Inc. trimmed its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 15.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 92,343 shares of the biopharmaceutical company’s stock after selling 17,374 shares during the quarter. Federated Hermes Inc.’s holdings in ACADIA Pharmaceuticals were worth $2,891,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its position in ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 2,070 shares during the period. Acadian Asset Management LLC bought a new stake in ACADIA Pharmaceuticals in the third quarter valued at $184,000. Legato Capital Management LLC bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at $206,000. Raymond James & Associates grew its position in ACADIA Pharmaceuticals by 18.1% in the third quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock valued at $221,000 after acquiring an additional 1,630 shares during the period. Finally, First Hawaiian Bank bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at $284,000. 96.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark C. Schneyer sold 5,434 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $97,268.60. Following the completion of the transaction, the chief financial officer now directly owns 26,183 shares in the company, valued at approximately $468,675.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,383 shares of company stock valued at $1,291,362. 27.50% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Up 2.5 %

Shares of ACAD opened at $16.71 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $16.16 and a 12-month high of $33.99. The firm has a market capitalization of $2.75 billion, a PE ratio of -43.97 and a beta of 0.37. The stock’s fifty day simple moving average is $19.94 and its 200-day simple moving average is $23.55.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The firm had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. During the same period last year, the company earned ($0.26) EPS. The company’s revenue was up 69.3% compared to the same quarter last year. Analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 9th. TheStreet upgraded ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. Royal Bank of Canada decreased their target price on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. JPMorgan Chase & Co. decreased their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Finally, Mizuho cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $39.00 to $25.00 in a report on Tuesday, March 12th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.82.

About ACADIA Pharmaceuticals

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.