Charles Schwab Investment Management Inc. Decreases Position in 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. decreased its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,200,839 shares of the biopharmaceutical company's stock after selling 50,493 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.72% of ACADIA Pharmaceuticals worth $19,946,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ACAD. Cerity Partners LLC boosted its stake in ACADIA Pharmaceuticals by 43.2% during the fourth quarter. Cerity Partners LLC now owns 20,459 shares of the biopharmaceutical company's stock worth $349,000 after buying an additional 6,173 shares during the period. Bank of Montreal Can bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth about $211,000. Raymond James Financial Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $664,000. Barclays PLC boosted its stake in shares of ACADIA Pharmaceuticals by 7.5% during the 4th quarter. Barclays PLC now owns 298,445 shares of the biopharmaceutical company's stock worth $5,477,000 after purchasing an additional 20,880 shares during the period. Finally, First Trust Advisors LP grew its holdings in ACADIA Pharmaceuticals by 27.0% during 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 purchasing an additional 574,251 shares during the last quarter. Institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Down 0.6%

NASDAQ:ACAD opened at $24.78 on Friday. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 6.35 and a beta of 0.70. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $25.88. The firm has a 50 day moving average of $22.94 and a 200 day moving average of $19.66.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The business had revenue of $264.57 million for the quarter, compared to analyst estimates of $263.07 million. During the same period in the previous year, the company earned $0.20 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insider Activity

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. BMO Capital Markets increased their price objective on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Cantor Fitzgerald raised shares of ACADIA Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and raised their target price for the company from $20.00 to $35.00 in a research report on Wednesday, May 21st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.

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