Massachusetts Financial Services Co. MA Decreases Stock Position in ACADIA Pharmaceuticals Inc. $ACAD

Massachusetts Financial Services Co. MA lessened its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,072,483 shares of the biopharmaceutical company’s stock after selling 38,243 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.63% of ACADIA Pharmaceuticals worth $28,646,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in ACADIA Pharmaceuticals in the 4th quarter valued at $264,000. Allspring Global Investments Holdings LLC grew its position in ACADIA Pharmaceuticals by 25.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 658,813 shares of the biopharmaceutical company’s stock valued at $17,320,000 after acquiring an additional 133,393 shares during the last quarter. Exchange Traded Concepts LLC grew its position in ACADIA Pharmaceuticals by 161.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,149 shares of the biopharmaceutical company’s stock valued at $164,000 after acquiring an additional 3,795 shares during the last quarter. Pallas Capital Advisors LLC grew its position in ACADIA Pharmaceuticals by 4.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 13,192 shares of the biopharmaceutical company’s stock valued at $352,000 after acquiring an additional 512 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in ACADIA Pharmaceuticals by 5.8% in the 4th quarter. SG Americas Securities LLC now owns 41,965 shares of the biopharmaceutical company’s stock valued at $1,121,000 after acquiring an additional 2,285 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 1.2%

ACAD opened at $21.76 on Thursday. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.08 and a 12-month high of $28.35. The business’s fifty day simple moving average is $22.36 and its 200-day simple moving average is $23.78. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 21.94 and a beta of 0.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $1.48. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The business had revenue of $298.00 million for the quarter, compared to the consensus estimate of $292.54 million. During the same quarter in the prior year, the company earned $0.86 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on ACAD shares. Wolfe Research started coverage on ACADIA Pharmaceuticals in a research report on Monday, February 23rd. They issued an “outperform” rating and a $33.00 price objective on the stock. TD Cowen upped their price objective on ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Stifel Nicolaus cut their price objective on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. Citizens Jmp upped their price objective on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.21.

Insiders Place Their Bets

In related news, EVP Mark C. Schneyer sold 2,709 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $22.20, for a total transaction of $60,139.80. Following the completion of the sale, the executive vice president directly owned 62,836 shares in the company, valued at $1,394,959.20. This represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jennifer J. Rhodes sold 6,950 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $23.38, for a total value of $162,491.00. Following the sale, the executive vice president owned 7,609 shares of the company’s stock, valued at $177,898.42. This trade represents a 47.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,689 shares of company stock worth $245,497 in the last three months. Corporate insiders own 26.50% of the company’s stock.

ACADIA Pharmaceuticals Company 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.