Price T Rowe Associates Inc. MD Trims Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Price T Rowe Associates Inc. MD trimmed its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 22.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,999,550 shares of the biopharmaceutical company’s stock after selling 1,178,959 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.42% of ACADIA Pharmaceuticals worth $73,952,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ACAD. China Universal Asset Management Co. Ltd. grew its position in ACADIA Pharmaceuticals by 351.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,985 shares of the biopharmaceutical company’s stock worth $594,000 after acquiring an additional 14,783 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of ACADIA Pharmaceuticals by 2.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 94,553 shares of the biopharmaceutical company’s stock worth $2,925,000 after purchasing an additional 2,184 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in ACADIA Pharmaceuticals by 5.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,780 shares of the biopharmaceutical company’s stock valued at $2,686,000 after buying an additional 4,442 shares during the period. Wakefield Asset Management LLLP purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $1,108,000. Finally, Allspring Global Investments Holdings LLC lifted its position in ACADIA Pharmaceuticals by 17.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 147,099 shares of the biopharmaceutical company’s stock valued at $4,606,000 after buying an additional 22,008 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 2.0 %

Shares of ACAD stock opened at $18.75 on Tuesday. The firm has a fifty day moving average price of $16.20 and a 200 day moving average price of $19.42. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.55 and a 12 month high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The company had revenue of $205.83 million during the quarter, compared to the consensus estimate of $208.31 million. During the same period in the previous year, the business earned ($0.27) EPS. ACADIA Pharmaceuticals’s revenue for the quarter was up 73.8% on a year-over-year basis. On average, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ACAD. Oppenheimer reiterated a “market perform” rating and set a $19.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, May 6th. Morgan Stanley cut their target price on ACADIA Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Mizuho lowered their price target on ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Bank of America cut their price objective on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $28.59.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 3,477 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $58,900.38. Following the sale, the chief operating officer now owns 42,133 shares of the company’s stock, valued at $713,733.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 3,477 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $58,900.38. Following the completion of the transaction, the chief operating officer now owns 42,133 shares in the company, valued at $713,733.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen Davis sold 11,427 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $193,573.38. Following the sale, the chief executive officer now owns 155,231 shares in the company, valued at approximately $2,629,613.14. The disclosure for this sale can be found here. Insiders sold 20,708 shares of company stock valued at $348,697 over the last three months. 28.30% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Company 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.