Fisher Asset Management LLC Has $6.69 Million Position in ACADIA Pharmaceuticals Inc. $ACAD

Fisher Asset Management LLC lessened its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 12.6% in the 2nd quarter, Holdings Channel reports. The firm owned 310,311 shares of the biopharmaceutical company’s stock after selling 44,710 shares during the period. Fisher Asset Management LLC’s holdings in ACADIA Pharmaceuticals were worth $6,693,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ACAD. Banque Transatlantique SA acquired a new stake in ACADIA Pharmaceuticals during the 1st quarter worth approximately $31,000. Federated Hermes Inc. raised its position in ACADIA Pharmaceuticals by 231.5% in the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,618 shares during the last quarter. Quantbot Technologies LP bought a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at approximately $52,000. PNC Financial Services Group Inc. boosted its position in ACADIA Pharmaceuticals by 545.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,438 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 4,596 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in ACADIA Pharmaceuticals by 15.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,465 shares of the biopharmaceutical company’s stock worth $139,000 after acquiring an additional 884 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 2.6%

ACAD opened at $26.55 on Friday. The stock’s fifty day simple moving average is $22.59 and its 200 day simple moving average is $22.99. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $26.76. The stock has a market cap of $4.49 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 6.95 and a beta of 0.67.

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

Insider Transactions at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,084 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James M. Daly sold 30,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $22.37, for a total value of $671,100.00. Following the transaction, the director owned 4,041 shares in the company, valued at approximately $90,397.17. This trade represents a 88.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 47,844 shares of company stock worth $1,093,684 over the last quarter. Company insiders own 26.50% of the company’s stock.

Analyst Ratings Changes

ACAD has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 25th. UBS Group reissued a “buy” rating and set a $35.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday. The Goldman Sachs Group raised their price objective on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the company a “sell” rating in a report on Thursday, August 7th. Royal Bank Of Canada dropped their target price on ACADIA Pharmaceuticals from $34.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $28.89.

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.