ACADIA Pharmaceuticals Inc. $ACAD Shares Sold by Burney Co.

Burney Co. lowered its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 43.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 59,970 shares of the biopharmaceutical company’s stock after selling 45,441 shares during the period. Burney Co.’s holdings in ACADIA Pharmaceuticals were worth $1,335,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC grew its holdings in ACADIA Pharmaceuticals by 304.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 1,005 shares in the last quarter. Federated Hermes Inc. increased its position in shares of ACADIA Pharmaceuticals by 277.5% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $52,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $26.00 on Thursday. The company has a market capitalization of $4.45 billion, a P/E ratio of 11.82, a PEG ratio of 18.87 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $28.35. The stock has a 50-day simple moving average of $22.42 and a 200-day simple moving average of $23.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. As a group, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Canaccord Genuity Group increased their target price on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, June 29th. Royal Bank Of Canada lifted their price target on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday. HC Wainwright cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Weiss Ratings downgraded ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Finally, Citigroup raised their target price on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.94.

Insiders Place Their Bets

In other news, insider James Kihara sold 5,401 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the sale, the insider directly owned 24,509 shares of the company’s stock, valued at approximately $519,100.62. This represents a 18.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 3,506 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the sale, the executive vice president owned 66,145 shares of the company’s stock, valued at $1,441,299.55. This trade represents a 5.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 10,239 shares of company stock valued at $219,813. 26.20% of the stock is owned by company insiders.

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.