ACADIA Pharmaceuticals Inc. $ACAD Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lessened its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 653,759 shares of the biopharmaceutical company’s stock after selling 1,382 shares during the period. Panagora Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $10,859,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACAD. Raymond James Financial Inc. acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth $664,000. Dimensional Fund Advisors LP grew its holdings in ACADIA Pharmaceuticals by 28.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,840 shares of the biopharmaceutical company’s stock valued at $19,932,000 after purchasing an additional 243,082 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in ACADIA Pharmaceuticals by 202.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,118 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 8,778 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in ACADIA Pharmaceuticals by 52.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 628,016 shares of the biopharmaceutical company’s stock valued at $11,524,000 after purchasing an additional 214,747 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in ACADIA Pharmaceuticals by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,232,366 shares of the biopharmaceutical company’s stock valued at $22,614,000 after purchasing an additional 106,236 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACAD. HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Oppenheimer reissued a “market perform” rating and issued a $22.00 target price (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Morgan Stanley set a $24.00 target price on ACADIA Pharmaceuticals and gave the company an “equal weight” rating in a report on Tuesday, May 20th. Citigroup reaffirmed an “outperform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on ACADIA Pharmaceuticals from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.88.

ACADIA Pharmaceuticals Trading Down 0.9%

NASDAQ ACAD opened at $25.99 on Monday. The business’s 50-day moving average price is $23.35 and its 200 day moving average price is $19.96. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $26.65. The company has a market capitalization of $4.38 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 6.62 and a beta of 0.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The firm had revenue of $264.57 million for the quarter, compared to the consensus estimate of $263.07 million. During the same period in the prior year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, Director Laura Brege sold 14,446 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total value of $314,633.88. Following the transaction, the director directly owned 15,095 shares in the company, valued at $328,769.10. This trade represents a 48.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 22,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $25.18, for a total value of $553,960.00. Following the completion of the transaction, the executive vice president owned 40,130 shares in the company, valued at approximately $1,010,473.40. This trade represents a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 28.30% of the company’s stock.

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.