ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 45.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,118,361 shares of the biopharmaceutical company’s stock after selling 934,758 shares during the period. Millennium Management LLC owned approximately 0.67% of ACADIA Pharmaceuticals worth $20,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in ACADIA Pharmaceuticals by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock worth $255,939,000 after acquiring an additional 104,444 shares during the period. First Trust Advisors LP grew its holdings in ACADIA Pharmaceuticals by 27.0% during the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company’s stock worth $49,547,000 after acquiring an additional 574,251 shares during the period. SG Americas Securities LLC grew its holdings in ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after acquiring an additional 1,966,607 shares during the period. Norges Bank purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter worth $25,555,000. Finally, Northern Trust Corp boosted its position in ACADIA Pharmaceuticals by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,232,366 shares of the biopharmaceutical company’s stock worth $22,614,000 after purchasing an additional 106,236 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the sale, the executive vice president now owns 62,130 shares in the company, valued at $1,553,250. This trade represents a 3.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Kihara sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.50, for a total value of $90,000.00. Following the sale, the insider now owns 20,395 shares of the company’s stock, valued at approximately $458,887.50. This trade represents a 16.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,994 shares of company stock worth $453,131 in the last three months. 26.50% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Trading Down 1.4%

NASDAQ ACAD opened at $21.69 on Wednesday. The business’s 50-day moving average price is $16.11 and its 200 day moving average price is $17.19. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.23. The company has a market capitalization of $3.63 billion, a PE ratio of 27.81 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. Equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price on the stock. Needham & Company LLC boosted their target price on ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group decreased their target price on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Robert W. Baird boosted their target price on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Morgan Stanley boosted their target price on ACADIA Pharmaceuticals from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

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.