ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 20.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,626 shares of the biopharmaceutical company’s stock after selling 6,957 shares during the period. ProShare Advisors LLC’s holdings in ACADIA Pharmaceuticals were worth $433,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Arizona State Retirement System grew its stake in shares of ACADIA Pharmaceuticals by 2.2% during the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after purchasing an additional 655 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in ACADIA Pharmaceuticals by 5.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 778 shares during the last quarter. Swiss National Bank boosted its position in shares of ACADIA Pharmaceuticals by 0.4% during the 1st quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock worth $3,894,000 after acquiring an additional 800 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock valued at $1,578,000 after acquiring an additional 803 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 840 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. BMO Capital Markets initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 27th. They issued an “outperform” rating and a $31.00 price objective for the company. Cantor Fitzgerald cut their target price on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com raised ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.56.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at $2,850,560.40. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen Davis sold 31,747 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the transaction, the chief executive officer now owns 186,555 shares of the company’s stock, valued at $2,850,560.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,014 shares of company stock valued at $779,494. Corporate insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ:ACAD opened at $15.30 on Wednesday. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -1,530.00, a PEG ratio of 0.55 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.55 and a fifty-two week high of $32.59. The firm’s 50-day simple moving average is $16.52 and its 200-day simple moving average is $16.54.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The firm had revenue of $241.96 million during the quarter, compared to analysts’ expectations of $235.95 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. ACADIA Pharmaceuticals’s revenue was up 46.4% compared to the same quarter last year. On average, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current year.

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.