Fisher Asset Management LLC Sells 44,710 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Fisher Asset Management LLC decreased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 12.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,311 shares of the biopharmaceutical company’s stock after selling 44,710 shares during the period. Fisher Asset Management LLC owned 0.18% of ACADIA Pharmaceuticals worth $6,693,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter worth approximately $511,000. Comerica Bank increased its position in ACADIA Pharmaceuticals by 4,770.1% during the first quarter. Comerica Bank now owns 43,100 shares of the biopharmaceutical company’s stock worth $716,000 after acquiring an additional 42,215 shares during the period. Rhumbline Advisers raised its stake in ACADIA Pharmaceuticals by 100.9% during the 1st quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company’s stock valued at $5,859,000 after purchasing an additional 177,188 shares during the last quarter. Atria Investments Inc raised its stake in ACADIA Pharmaceuticals by 26.1% during the 2nd quarter. Atria Investments Inc now owns 22,087 shares of the biopharmaceutical company’s stock valued at $476,000 after purchasing an additional 4,574 shares during the last quarter. Finally, Woodline Partners LP boosted its holdings in ACADIA Pharmaceuticals by 1,003.0% in the 1st quarter. Woodline Partners LP now owns 295,210 shares of the biopharmaceutical company’s stock valued at $4,903,000 after purchasing an additional 268,445 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Up 2.6%

Shares of ACADIA Pharmaceuticals stock opened at $26.55 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $26.76. The company has a 50-day simple moving average of $22.59 and a 200 day simple moving average of $22.99. The stock has a market capitalization of $4.49 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 6.95 and a beta of 0.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.14 by $0.28. The business had revenue of $278.63 million for the quarter, compared to the consensus estimate of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.ACADIA Pharmaceuticals’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. On average, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACAD has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. UBS Group restated a “buy” rating and set a $35.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday. The Goldman Sachs Group upped their price target on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the company a “sell” rating in a report on Thursday, August 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a report on Monday. Finally, Wall Street Zen upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.89.

Insider Transactions at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,084 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total value of $96,749.96. Following the completion of the sale, the insider directly owned 25,058 shares in the company, valued at $593,624.02. This trade represents a 14.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Daly sold 30,000 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $22.37, for a total transaction of $671,100.00. Following the sale, the director owned 4,041 shares of the company’s stock, valued at approximately $90,397.17. This represents a 88.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 47,844 shares of company stock worth $1,093,684. Corporate insiders own 26.50% of the company’s stock.

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.