Emerald Mutual Fund Advisers Trust Has $369,000 Stake in ACADIA Pharmaceuticals Inc. $ACAD

Emerald Mutual Fund Advisers Trust trimmed its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 96.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,576 shares of the biopharmaceutical company’s stock after selling 467,930 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in ACADIA Pharmaceuticals were worth $369,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ACAD. Farther Finance Advisors LLC grew its holdings in ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 386 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC boosted its position in shares of ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 1,005 shares during the last quarter. Federated Hermes Inc. boosted 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 worth $43,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $52,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on ACAD. HC Wainwright downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. Bank of America raised their target price on ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Citigroup increased their price target on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada boosted their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $32.94.

Insider Buying and Selling

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

ACADIA Pharmaceuticals Trading Down 0.0%

NASDAQ:ACAD opened at $25.49 on Wednesday. ACADIA Pharmaceuticals Inc. has a 1 year low of $19.69 and a 1 year high of $28.35. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 18.37 and a beta of 0.80. The stock has a 50-day moving average price of $22.70 and a two-hundred day moving average price of $23.33.

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

ACADIA Pharmaceuticals Profile

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.