ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,211 shares of the biopharmaceutical company’s stock after selling 7,585 shares during the quarter. Principal Financial Group Inc.’s holdings in ACADIA Pharmaceuticals were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Covestor Ltd boosted its holdings in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares during the last quarter. Quest Partners LLC acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $39,000. Headlands Technologies LLC purchased a new position in ACADIA Pharmaceuticals in the first quarter worth approximately $48,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter worth $100,000. Finally, Shell Asset Management Co. increased its stake in ACADIA Pharmaceuticals by 65.7% during the first quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock worth $136,000 after acquiring an additional 2,909 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ACAD shares. Needham & Company LLC lowered their price target on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada lowered their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald reduced their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets began coverage on shares of ACADIA Pharmaceuticals in a report on Thursday, June 27th. They issued an “outperform” rating and a $31.00 price objective on the stock. Finally, StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $15.95 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.55 and a 12-month high of $32.59. The firm has a market cap of $2.64 billion, a PE ratio of -1,595.00, a price-to-earnings-growth ratio of 0.54 and a beta of 0.40. The stock has a fifty day moving average price of $16.90 and a 200 day moving average price of $17.22.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The business had revenue of $241.96 million during the quarter, compared to analysts’ expectations of $235.95 million. During the same quarter last year, the business posted $0.01 EPS. The business’s quarterly revenue was up 46.4% compared to the same quarter last year. Equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling

In related news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the transaction, the chief operating officer now owns 52,177 shares of the company’s stock, valued at $797,264.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at $797,264.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The disclosure for this sale can be found here. Insiders sold 51,014 shares of company stock worth $779,494 over the last 90 days. 28.30% 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.