Algert Global LLC Cuts Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Algert Global LLC trimmed its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 485,904 shares of the biopharmaceutical company's stock after selling 63,552 shares during the quarter. Algert Global LLC owned 0.29% of ACADIA Pharmaceuticals worth $8,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACAD. Schonfeld Strategic Advisors LLC boosted its stake in ACADIA Pharmaceuticals by 77.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 69,169 shares of the biopharmaceutical company's stock worth $1,269,000 after purchasing an additional 30,232 shares in the last quarter. Northern Trust Corp increased its position in shares of ACADIA Pharmaceuticals by 9.4% in the 4th quarter. Northern Trust Corp now owns 1,232,366 shares of the biopharmaceutical company's stock valued at $22,614,000 after acquiring an additional 106,236 shares during the period. The Manufacturers Life Insurance Company raised its stake in ACADIA Pharmaceuticals by 52.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 628,016 shares of the biopharmaceutical company's stock worth $11,524,000 after acquiring an additional 214,747 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth about $922,000. Finally, Oxford Asset Management LLP purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at about $219,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Trading Up 3.0 %

ACAD traded up $0.51 during midday trading on Friday, hitting $17.44. 2,854,983 shares of the company traded hands, compared to its average volume of 1,855,937. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $20.68. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 22.36 and a beta of 0.47. The business has a 50 day simple moving average of $15.83 and a two-hundred day simple moving average of $16.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $244.32 million for the quarter, compared to analysts' expectations of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm's quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. Equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ACAD shares. StockNews.com upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. UBS Group dropped their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 8th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.45.

Insider Buying and Selling

In related news, EVP Mark C. Schneyer sold 3,171 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total value of $54,065.55. Following the transaction, the executive vice president now directly owns 56,889 shares in the company, valued at approximately $969,957.45. This represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now owns 17,595 shares in the company, valued at $320,756.85. This represents a 21.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,994 shares of company stock worth $313,131. 26.50% of the stock is owned by corporate insiders.

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.