Avidity Partners Management LP Sells 93,933 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Avidity Partners Management LP cut its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 87.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,967 shares of the biopharmaceutical company's stock after selling 93,933 shares during the period. Avidity Partners Management LP's holdings in ACADIA Pharmaceuticals were worth $289,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ACAD. Royal Bank of Canada lifted its position in ACADIA Pharmaceuticals by 74.4% in the 1st quarter. Royal Bank of Canada now owns 80,528 shares of the biopharmaceutical company's stock valued at $1,338,000 after acquiring an additional 34,352 shares in the last quarter. AQR Capital Management LLC raised its position in shares of ACADIA Pharmaceuticals by 3.8% during the first quarter. AQR Capital Management LLC now owns 67,672 shares of the biopharmaceutical company's stock valued at $1,124,000 after buying an additional 2,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ACADIA Pharmaceuticals by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,952 shares of the biopharmaceutical company's stock valued at $1,498,000 after buying an additional 6,303 shares in the last quarter. Empowered Funds LLC bought a new stake in ACADIA Pharmaceuticals during the first quarter worth approximately $186,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in ACADIA Pharmaceuticals by 14.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company's stock valued at $4,170,000 after acquiring an additional 31,931 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Stifel Nicolaus lifted their price target on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. Royal Bank Of Canada lifted their price target on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an "outperform" rating in a research note on Tuesday, July 7th. Bank of America restated a "buy" rating and set a $14.50 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday. Finally, Canaccord Genuity Group boosted their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a "buy" rating in a report on Monday, June 29th. Thirteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $32.31.

ACADIA Pharmaceuticals Stock Down 2.6%

Shares of NASDAQ:ACAD opened at $25.87 on Friday. The company has a market cap of $4.43 billion, a P/E ratio of 11.76, a PEG ratio of 18.41 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a 52 week low of $19.69 and a 52 week high of $28.35. The company has a 50-day moving average price of $23.74 and a 200 day moving average price of $23.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $268.10 million for the quarter, compared to analyst estimates of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.11 EPS. Analysts expect that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 5,401 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the sale, the insider directly owned 24,509 shares of the company's stock, valued at approximately $519,100.62. The trade was a 18.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the business's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the transaction, the executive vice president owned 18,994 shares of the company's stock, valued at $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,797 shares of company stock worth $652,474 over the last ninety days. 26.20% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA's research centers concentrate on conditions with significant unmet medical needs, including Parkinson's disease psychosis, Alzheimer's disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company's flagship product, NUPLAZID® (pimavanserin), received U.S.

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