ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 13.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,087 shares of the biopharmaceutical company’s stock after purchasing an additional 2,499 shares during the period. Advisors Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ACAD. Park Place Capital Corp bought a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at about $25,000. Values First Advisors Inc. acquired a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $27,000. Quest Partners LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 1,047 shares in the last quarter. Stonepine Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter valued at approximately $81,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 1,066 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 10,329 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $173,630.49. Following the completion of the sale, the chief operating officer now directly owns 62,105 shares in the company, valued at $1,043,985.05. The trade was a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the transaction, the chief financial officer now owns 53,302 shares in the company, valued at approximately $896,006.62. This trade represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,661 shares of company stock valued at $414,551. Insiders own 28.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACAD. Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. Citigroup lowered their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada dropped their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. UBS Group reduced their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $16.29 on Friday. The business’s 50-day moving average is $15.62 and its 200-day moving average is $15.99. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 20.88 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. During the same quarter in the prior year, the business earned ($0.40) EPS. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.72 earnings per share for the current fiscal year.

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.