ACADIA Pharmaceuticals Inc. $ACAD Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 30.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 111,144 shares of the biopharmaceutical company’s stock after selling 47,964 shares during the quarter. Edgestream Partners L.P.’s holdings in ACADIA Pharmaceuticals were worth $2,397,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Banque Transatlantique SA acquired a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at about $31,000. Federated Hermes Inc. grew its position in ACADIA Pharmaceuticals by 231.5% during the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,618 shares during the last quarter. Quantbot Technologies LP acquired a new position in ACADIA Pharmaceuticals during the 1st quarter valued at approximately $52,000. PNC Financial Services Group Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 545.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,438 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 4,596 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ACADIA Pharmaceuticals by 15.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,465 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 884 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Transactions at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,084 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total transaction of $96,749.96. Following the completion of the transaction, the insider directly owned 25,058 shares of the company’s stock, valued at $593,624.02. The trade was a 14.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James M. Daly sold 30,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $22.37, for a total transaction of $671,100.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 47,844 shares of company stock valued at $1,093,684 in the last 90 days. 26.50% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $26.55 on Friday. The firm has a market capitalization of $4.49 billion, a P/E ratio of 17.13, a PEG ratio of 6.95 and a beta of 0.67. The stock has a 50-day simple moving average of $22.59 and a two-hundred day simple moving average of $22.99. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $26.76.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted 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 firm had revenue of $278.63 million for the quarter, compared to analyst estimates 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 for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. As a group, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ACAD shares. Deutsche Bank Aktiengesellschaft set a $29.00 target price on ACADIA Pharmaceuticals in a research report on Thursday, September 25th. Citigroup started coverage on ACADIA Pharmaceuticals in a research note on Tuesday, October 21st. They set a “buy” rating and a $33.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Needham & Company LLC raised their price objective on ACADIA Pharmaceuticals from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $28.89.

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.