Swiss National Bank Sells 2,600 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Swiss National Bank cut its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 209,504 shares of the biopharmaceutical company’s stock after selling 2,600 shares during the period. Swiss National Bank owned about 0.13% of ACADIA Pharmaceuticals worth $3,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACAD. Wells Fargo & Company MN increased its stake in shares of ACADIA Pharmaceuticals by 7.7% in the fourth quarter. Wells Fargo & Company MN now owns 202,349 shares of the biopharmaceutical company’s stock worth $3,713,000 after purchasing an additional 14,447 shares in the last quarter. Cerity Partners LLC increased its stake in shares of ACADIA Pharmaceuticals by 43.2% in the fourth quarter. Cerity Partners LLC now owns 20,459 shares of the biopharmaceutical company’s stock worth $349,000 after purchasing an additional 6,173 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth $211,000. Raymond James Financial Inc. purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth $664,000. Finally, Barclays PLC increased its stake in shares of ACADIA Pharmaceuticals by 7.5% in the fourth quarter. Barclays PLC now owns 298,445 shares of the biopharmaceutical company’s stock worth $5,477,000 after purchasing an additional 20,880 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Bank of America increased their price objective on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, June 5th. Cantor Fitzgerald raised shares of ACADIA Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, June 5th. Oppenheimer reaffirmed a “market perform” rating and set a $22.00 target price (up from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Finally, Morgan Stanley set a $24.00 target price on shares of ACADIA Pharmaceuticals and gave the company an “equal weight” rating in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.88.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $24.94 on Thursday. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 6.36 and a beta of 0.70. The company has a fifty day moving average of $22.88 and a 200 day moving average of $19.62. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $25.88.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The business had revenue of $264.57 million during the quarter, compared to analyst estimates of $263.07 million. During the same quarter last year, the business earned $0.20 earnings per share. ACADIA Pharmaceuticals’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Laura Brege sold 14,446 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the transaction, the director owned 15,095 shares in the company, valued at $328,769.10. This trade represents a 48.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Schneyer sold 22,000 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $25.18, for a total transaction of $553,960.00. Following the transaction, the executive vice president owned 40,130 shares of the company’s stock, valued at $1,010,473.40. This trade represents a 35.41% decrease in their position. The disclosure for this sale can be found here. 26.50% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Company 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 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.