ACADIA Pharmaceuticals Inc. $ACAD Holdings Decreased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 98.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,616 shares of the biopharmaceutical company’s stock after selling 1,683,979 shares during the period. Assenagon Asset Management S.A.’s holdings in ACADIA Pharmaceuticals were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in shares of ACADIA Pharmaceuticals in the first quarter worth $31,000. Quantbot Technologies LP purchased a new position in ACADIA Pharmaceuticals in the first quarter valued at about $52,000. GAMMA Investing LLC grew its stake in ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 690 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in ACADIA Pharmaceuticals by 15.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,465 shares of the biopharmaceutical company’s stock worth $139,000 after purchasing an additional 884 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth about $158,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ACAD shares. Stifel Nicolaus set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Wall Street Zen upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. HC Wainwright increased their price objective on ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the company a “buy” rating in a report on Monday, December 15th. Needham & Company LLC raised their price objective on ACADIA Pharmaceuticals from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Mizuho upped their target price on ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.95.

ACADIA Pharmaceuticals Trading Down 0.4%

ACAD opened at $27.73 on Friday. The stock’s 50 day simple moving average is $24.42 and its 200-day simple moving average is $23.55. The stock has a market cap of $4.69 billion, a PE ratio of 17.89, a P/E/G ratio of 8.30 and a beta of 0.67. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $28.35.

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

Insider Activity at ACADIA Pharmaceuticals

In related news, Director James M. Daly sold 30,000 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $22.37, for a total value of $671,100.00. Following the completion of the transaction, the director owned 4,041 shares of the company’s stock, valued at $90,397.17. This represents a 88.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Kihara sold 4,084 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total transaction of $96,749.96. Following the transaction, the insider owned 25,058 shares of the company’s stock, valued at approximately $593,624.02. This represents a 14.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 44,346 shares of company stock valued at $1,010,957 over the last quarter. 26.50% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.