ACADIA Pharmaceuticals Inc. $ACAD Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 20.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,943,152 shares of the biopharmaceutical company’s stock after selling 491,224 shares during the quarter. First Trust Advisors LP owned 1.15% of ACADIA Pharmaceuticals worth $41,467,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in ACADIA Pharmaceuticals by 11.2% during the third quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 534 shares during the period. Thrivent Financial for Lutherans lifted its holdings in ACADIA Pharmaceuticals by 0.7% in the second quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company’s stock valued at $1,964,000 after acquiring an additional 626 shares during the period. GAMMA Investing LLC boosted its position in ACADIA Pharmaceuticals by 25.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 690 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in ACADIA Pharmaceuticals by 113.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 756 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 107.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 885 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Jennifer J. Rhodes sold 6,950 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $23.38, for a total transaction of $162,491.00. Following the completion of the transaction, the executive vice president owned 7,609 shares in the company, valued at $177,898.42. This represents a 47.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ACAD has been the subject of several recent research reports. UBS Group lifted their target price on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Royal Bank Of Canada dropped their price target on shares of ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, March 2nd. HC Wainwright reiterated a “buy” rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 3rd. Finally, Piper Sandler set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.21.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $21.27 on Friday. The business’s 50 day moving average price is $24.63 and its 200-day moving average price is $24.28. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $28.35. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 20.64 and a beta of 0.66.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 EPS for the quarter, topping the consensus estimate of $0.12 by $1.48. The company had revenue of $298.00 million during the quarter, compared to analyst estimates of $292.54 million. ACADIA Pharmaceuticals had a net margin of 36.49% and a return on equity of 12.49%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. On average, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

About ACADIA Pharmaceuticals

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.