GAMMA Investing LLC Sells 842 Shares of ACADIA Pharmaceuticals Inc. $ACAD

GAMMA Investing LLC reduced its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 24.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,671 shares of the biopharmaceutical company’s stock after selling 842 shares during the quarter. GAMMA Investing LLC’s holdings in ACADIA Pharmaceuticals were worth $58,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in ACADIA Pharmaceuticals during the 1st quarter valued at $29,000. Picton Mahoney Asset Management acquired a new position in ACADIA Pharmaceuticals during the 1st quarter valued at $32,000. Banque Transatlantique SA acquired a new position in ACADIA Pharmaceuticals during the 1st quarter valued at $31,000. Federated Hermes Inc. raised its stake in ACADIA Pharmaceuticals by 231.5% during the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,618 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in ACADIA Pharmaceuticals during the 1st quarter valued at $52,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ACAD. Weiss Ratings reiterated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research note on Saturday, September 27th. Wall Street Zen cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. TD Cowen increased their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of ACADIA Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $29.12.

ACADIA Pharmaceuticals Stock Up 2.0%

Shares of NASDAQ:ACAD opened at $21.80 on Friday. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $26.65. The company’s 50-day moving average price is $24.16 and its two-hundred day moving average price is $20.83. The firm has a market cap of $3.68 billion, a P/E ratio of 16.39, a P/E/G ratio of 7.53 and a beta of 0.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The firm had revenue of $264.57 million for the quarter, compared to analyst estimates of $263.07 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The company’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,498 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $23.65, for a total transaction of $82,727.70. Following the sale, the executive vice president owned 43,447 shares of the company’s stock, valued at $1,027,521.55. This represents a 7.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total transaction of $41,568.00. Following the completion of the transaction, the director directly owned 25,382 shares in the company, valued at $659,424.36. This trade represents a 5.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,098 shares of company stock worth $678,256. 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.