ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Position Reduced by Fmr LLC

Fmr LLC decreased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 95.9% during 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 97,358 shares of the biopharmaceutical company’s stock after selling 2,269,618 shares during the period. Fmr LLC owned 0.06% of ACADIA Pharmaceuticals worth $1,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in ACADIA Pharmaceuticals by 36.2% during the second quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock worth $47,738,000 after purchasing an additional 781,070 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in ACADIA Pharmaceuticals by 11.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock worth $47,693,000 after buying an additional 292,906 shares during the last quarter. Marshall Wace LLP grew its position in ACADIA Pharmaceuticals by 431.1% in the second quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock worth $45,083,000 after buying an additional 2,251,940 shares during the last quarter. Fred Alger Management LLC grew its position in ACADIA Pharmaceuticals by 19.8% in the second quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock worth $43,947,000 after buying an additional 446,875 shares during the last quarter. Finally, Emerald Advisers LLC grew its position in ACADIA Pharmaceuticals by 2.7% in the third quarter. Emerald Advisers LLC now owns 830,829 shares of the biopharmaceutical company’s stock worth $12,778,000 after buying an additional 21,998 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

Insiders Place Their Bets

In other news, insider James Kihara sold 4,073 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the transaction, the insider now directly owns 19,863 shares in the company, valued at approximately $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark C. Schneyer sold 10,259 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the transaction, the chief financial officer now owns 53,302 shares in the company, valued at $896,006.62. This represents a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $17.26 on Monday. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 22.13 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $32.59. The firm has a fifty day moving average price of $16.00 and a two-hundred day moving average price of $16.17.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company had revenue of $250.40 million for the quarter, compared to the consensus estimate of $248.83 million. During the same quarter in the previous year, the firm posted ($0.40) EPS. The business’s revenue was up 18.3% compared to the same quarter last year. As a group, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ACAD. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $25.60.

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.