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

Burney Co. lessened its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 71.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,752 shares of the biopharmaceutical company’s stock after selling 284,340 shares during the quarter. Burney Co. owned approximately 0.07% of ACADIA Pharmaceuticals worth $2,454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACAD. American Century Companies Inc. boosted its stake in ACADIA Pharmaceuticals by 1,055.8% during the 1st quarter. American Century Companies Inc. now owns 1,632,749 shares of the biopharmaceutical company’s stock worth $27,120,000 after purchasing an additional 1,491,484 shares during the last quarter. Nuveen LLC acquired a new stake in ACADIA Pharmaceuticals during the 1st quarter worth $21,630,000. Vanguard Group Inc. boosted its stake in ACADIA Pharmaceuticals by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company’s stock worth $252,526,000 after purchasing an additional 1,255,594 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in ACADIA Pharmaceuticals by 73.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,977,432 shares of the biopharmaceutical company’s stock worth $32,845,000 after purchasing an additional 838,728 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in ACADIA Pharmaceuticals by 425.2% during the 1st quarter. Principal Financial Group Inc. now owns 754,748 shares of the biopharmaceutical company’s stock worth $12,536,000 after purchasing an additional 611,054 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 1.5%

Shares of ACAD opened at $22.37 on Tuesday. The firm has a market cap of $3.77 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 7.90 and a beta of 0.75. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $26.65. The company’s 50-day moving average price is $22.95 and its 200 day moving average price is $21.78.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $264.57 million for the quarter, compared to analyst estimates of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. ACADIA Pharmaceuticals’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. Equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on ACAD. UBS Group lifted their price target on ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Royal Bank Of Canada lifted their price target on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. TD Cowen lifted their price target on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Citigroup began coverage on ACADIA Pharmaceuticals in a report on Tuesday, October 21st. They set a “buy” rating and a $33.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $29.00 price target on ACADIA Pharmaceuticals in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.33.

Insider Activity

In related news, EVP Mark C. Schneyer sold 3,498 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $23.65, for a total value of $82,727.70. Following the sale, the executive vice president directly owned 43,447 shares in the company, valued at approximately $1,027,521.55. The trade was a 7.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total transaction of $41,568.00. Following the completion of the sale, the director owned 25,382 shares in the company, valued at approximately $659,424.36. This trade represents a 5.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 27,098 shares of company stock worth $678,256. 26.50% of the stock is owned by insiders.

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.