Charles Schwab Investment Management Inc. Sells 50,493 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Charles Schwab Investment Management Inc. has decreased its position in ACADIA Pharmaceuticals by 4.0%, now holding approximately 1,200,839 shares worth about $19,946,000.
• Various institutional investors have increased their holdings in ACADIA, with Cerity Partners LLC boosting its stake by 43.2% and First Trust Advisors LP growing its holdings by 27.0%.
• ACADIA Pharmaceuticals reported a 9.4% increase in revenue year-over-year, with $264.57 million in revenue and an earnings per share of $0.16 for the last quarter.

Charles Schwab Investment Management Inc. lessened its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,200,839 shares of the biopharmaceutical company's stock after selling 50,493 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.72% of ACADIA Pharmaceuticals worth $19,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACAD. Cerity Partners LLC increased its holdings in ACADIA Pharmaceuticals by 43.2% during the 4th quarter. Cerity Partners LLC now owns 20,459 shares of the biopharmaceutical company's stock worth $349,000 after acquiring an additional 6,173 shares during the period. Bank of Montreal Can purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $211,000. Raymond James Financial Inc. purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $664,000. Barclays PLC grew its stake in ACADIA Pharmaceuticals by 7.5% in the 4th quarter. Barclays PLC now owns 298,445 shares of the biopharmaceutical company's stock worth $5,477,000 after buying an additional 20,880 shares in the last quarter. Finally, First Trust Advisors LP grew its stake 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 worth $49,547,000 after buying an additional 574,251 shares in the last quarter. Institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Price Performance

ACAD traded up $0.85 during trading on Wednesday, hitting $26.57. 2,525,727 shares of the stock traded hands, compared to its average volume of 1,983,132. The firm has a market capitalization of $4.48 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 6.55 and a beta of 0.70. The firm has a 50-day moving average of $23.22 and a 200 day moving average of $19.85. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $26.62.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $264.57 million during the quarter, compared to analysts' expectations of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 EPS. As a group, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Laura Brege sold 14,446 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total value of $314,633.88. Following the completion of the transaction, the director directly owned 15,095 shares in the company, valued at approximately $328,769.10. This represents a 48.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Schneyer sold 22,000 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the completion of the transaction, the executive vice president owned 40,130 shares of the company's stock, valued at $1,010,473.40. This trade represents a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ACAD shares. Oppenheimer reissued a "market perform" rating and issued a $22.00 price target (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. JMP Securities boosted their price target on shares of ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Citigroup reissued an "outperform" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 7th. Needham & Company LLC reissued a "buy" rating and issued a $30.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Finally, Morgan Stanley set a $24.00 price target on shares of ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $28.88.

About ACADIA Pharmaceuticals

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.