ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 45.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,118,361 shares of the biopharmaceutical company's stock after selling 934,758 shares during the quarter. Millennium Management LLC owned 0.67% of ACADIA Pharmaceuticals worth $20,522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACAD. R Squared Ltd purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth approximately $47,000. KBC Group NV boosted its holdings in shares of ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after buying an additional 2,044 shares during the last quarter. Globeflex Capital L P purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth approximately $168,000. Xponance Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth approximately $186,000. Finally, Vinva Investment Management Ltd purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth approximately $187,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Analysts Set New Price Targets

ACAD has been the topic of a number of research reports. 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. Wall Street Zen raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Mizuho lifted their price target on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Oppenheimer reaffirmed a "market perform" rating on shares of ACADIA Pharmaceuticals in a report on Friday, May 16th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $26.83.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD traded up $0.43 on Monday, hitting $21.98. 1,671,707 shares of the stock were exchanged, compared to its average volume of 1,933,705. The stock has a fifty day moving average price of $16.47 and a two-hundred day moving average price of $17.36. The firm has a market capitalization of $3.68 billion, a P/E ratio of 28.18 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $25.23.

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

Insiders Place Their Bets

In related news, EVP Mark C. Schneyer sold 3,498 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $14.60, for a total value of $51,070.80. Following the completion of the transaction, the executive vice president now directly owns 62,773 shares of the company's stock, valued at $916,485.80. This trade represents a 5.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Kihara sold 4,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the completion of the transaction, the insider now directly owns 20,395 shares of the company's stock, valued at $458,887.50. The trade was a 16.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,746 shares of company stock worth $428,221. 26.50% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Company 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.