Balyasny Asset Management L.P. Sells 727,650 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Balyasny Asset Management L.P. lessened its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 64.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 396,922 shares of the biopharmaceutical company's stock after selling 727,650 shares during the period. Balyasny Asset Management L.P. owned approximately 0.24% of ACADIA Pharmaceuticals worth $7,284,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ACAD. SG Americas Securities LLC increased its holdings in shares of ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after acquiring an additional 1,966,607 shares during the period. Norges Bank bought a new position in ACADIA Pharmaceuticals in the 4th quarter valued at about $25,555,000. Renaissance Technologies LLC grew its position in ACADIA Pharmaceuticals by 204.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company's stock valued at $22,507,000 after buying an additional 823,333 shares in the last quarter. First Trust Advisors LP grew its position in ACADIA Pharmaceuticals by 27.0% in the 4th quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock valued at $49,547,000 after buying an additional 574,251 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new position in ACADIA Pharmaceuticals in the 4th quarter valued at about $9,909,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC restated a "buy" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. UBS Group reduced their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a "hold" rating and a $22.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $24.70.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm's 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 sale, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. This trade represents a 21.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 3,498 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $14.60, for a total transaction of $51,070.80. Following the completion of the sale, the executive vice president now owns 62,773 shares in the company, valued at approximately $916,485.80. The trade was a 5.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,994 shares of company stock worth $313,131 over the last 90 days. Insiders own 26.50% of the company's stock.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD traded down $0.32 during mid-day trading on Tuesday, reaching $17.20. The stock had a trading volume of 1,310,987 shares, compared to its average volume of 1,857,350. The business's 50 day moving average is $15.82 and its 200 day moving average is $17.00. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $20.68. The stock has a market cap of $2.88 billion, a P/E ratio of 22.05 and a beta of 0.47.

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

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.