Deutsche Bank AG Sells 281,853 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Deutsche Bank AG sold 281,853 shares of ACADIA Pharmaceuticals Inc., reducing its stake by 27% to 760,594 shares, valued at approximately $12.63 million.
• Multiple hedge funds have also acquired or increased their stakes in ACADIA, with institutional investors now holding 96.71% of the company's stock.
• ACADIA Pharmaceuticals’ stock received several rating upgrades, with a consensus target price of $28.88 and an average rating of "Moderate Buy."

Deutsche Bank AG reduced its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 27.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 760,594 shares of the biopharmaceutical company's stock after selling 281,853 shares during the period. Deutsche Bank AG owned 0.45% of ACADIA Pharmaceuticals worth $12,633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at about $60,845,000. Point72 Asset Management L.P. acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $40,935,000. Vanguard Group Inc. grew its stake in shares of ACADIA Pharmaceuticals by 9.0% in the first quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock valued at $252,526,000 after acquiring an additional 1,255,594 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of ACADIA Pharmaceuticals by 160.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company's stock valued at $23,180,000 after acquiring an additional 778,900 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $11,643,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACAD has been the topic of several research reports. Oppenheimer restated a "market perform" rating and issued a $22.00 price target (up from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Mizuho upped their price target on shares of ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Robert W. Baird upped their price target on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Citigroup restated an "outperform" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $28.88.

Insider Transactions at ACADIA Pharmaceuticals

In related news, Director Laura Brege sold 14,446 shares of the firm's stock in a transaction that occurred 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 owned 15,095 shares in the company, valued at $328,769.10. This trade represents a 48.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.50% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Down 0.0%

Shares of NASDAQ ACAD traded down $0.0090 during midday trading on Tuesday, reaching $25.0510. 186,246 shares of the company were exchanged, compared to its average volume of 2,175,514. The stock's 50-day moving average price is $22.77 and its 200-day moving average price is $19.55. The stock has a market cap of $4.23 billion, a P/E ratio of 18.83, a PEG ratio of 6.45 and a beta of 0.70. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $25.88.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $264.57 million for 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 company's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. On average, equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

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.