GSA Capital Partners LLP Has $1.03 Million Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

GSA Capital Partners LLP lessened its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 62.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,096 shares of the biopharmaceutical company’s stock after selling 113,604 shares during the quarter. GSA Capital Partners LLP’s holdings in ACADIA Pharmaceuticals were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Arizona State Retirement System boosted its stake in ACADIA Pharmaceuticals by 2.2% during the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after buying an additional 655 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of ACADIA Pharmaceuticals by 5.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after acquiring an additional 778 shares in the last quarter. Swiss National Bank increased its stake in ACADIA Pharmaceuticals by 0.4% in the first quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after acquiring an additional 800 shares during the period. Covestor Ltd raised its position in ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 840 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake 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 during the period. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Stock Down 1.5 %

ACADIA Pharmaceuticals stock opened at $16.77 on Friday. The business’s 50-day simple moving average is $15.56 and its 200 day simple moving average is $16.01. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 21.50 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $32.59.

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

Insiders Place Their Bets

In other news, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was 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 directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. The trade was a 14.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brendan Teehan sold 9,534 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. This trade represents a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,014 shares of company stock valued at $779,494. Company insiders own 28.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ACAD shares. Royal Bank of Canada lowered their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Citigroup dropped their price objective on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. UBS Group reduced their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Morgan Stanley lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Profile

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.