Advisors Asset Management Inc. Sells 3,408 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Advisors Asset Management Inc. reduced its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 16.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,444 shares of the biopharmaceutical company’s stock after selling 3,408 shares during the quarter. Advisors Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company’s stock worth $252,526,000 after purchasing an additional 1,255,594 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth about $60,845,000. Point72 Asset Management L.P. acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $40,935,000. American Century Companies Inc. increased its stake in shares of ACADIA Pharmaceuticals by 1,055.8% during the 1st quarter. American Century Companies Inc. now owns 1,632,749 shares of the biopharmaceutical company’s stock worth $27,120,000 after purchasing an additional 1,491,484 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of ACADIA Pharmaceuticals by 11.6% during the 1st quarter. Northern Trust Corp now owns 1,375,213 shares of the biopharmaceutical company’s stock worth $22,842,000 after purchasing an additional 142,847 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ACAD has been the topic of several recent analyst reports. UBS Group boosted their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. BMO Capital Markets boosted their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Robert W. Baird upped their price target on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Finally, TD Cowen upped their price target on shares of ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.65.

ACADIA Pharmaceuticals Trading Up 1.7%

NASDAQ ACAD opened at $24.20 on Friday. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 6.03 and a beta of 0.75. The firm’s 50 day simple moving average is $23.94 and its 200 day simple moving average is $20.29. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $264.57 million for the quarter, compared to analyst estimates of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. 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

In other news, Director Elizabeth A. Garofalo sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total value of $41,568.00. Following the sale, the director directly owned 25,382 shares in the company, valued at approximately $659,424.36. This trade represents a 5.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 22,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 40,130 shares of the company’s stock, valued at approximately $1,010,473.40. The trade was a 35.41% decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.50% of the company’s stock.

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 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.