Edgestream Partners L.P. Decreases Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Edgestream Partners L.P. trimmed its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 39.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,108 shares of the biopharmaceutical company's stock after selling 105,282 shares during the period. Edgestream Partners L.P. owned approximately 0.10% of ACADIA Pharmaceuticals worth $2,643,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. GF Fund Management CO. LTD. lifted its stake in shares of ACADIA Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 4,260 shares of the biopharmaceutical company's stock valued at $71,000 after purchasing an additional 766 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company's stock worth $230,000 after acquiring an additional 795 shares during the last quarter. Xponance Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 14.1% during the 1st quarter. Xponance Inc. now owns 11,585 shares of the biopharmaceutical company's stock worth $192,000 after acquiring an additional 1,434 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $29,000. Finally, Arete Wealth Advisors LLC lifted its stake in shares of ACADIA Pharmaceuticals by 15.9% during the 4th quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company's stock worth $251,000 after acquiring an additional 1,875 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Trading Up 0.0%

ACADIA Pharmaceuticals stock traded up $0.01 during mid-day trading on Friday, hitting $22.56. The company's stock had a trading volume of 1,517,951 shares, compared to its average volume of 1,972,030. The firm has a market capitalization of $3.78 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 4.86 and a beta of 0.64. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $25.23. The stock's fifty day moving average is $21.58 and its two-hundred day moving average is $18.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results 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 business had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The company's quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the business posted $0.10 earnings per share. On average, equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 2,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the sale, the executive vice president owned 62,130 shares in the company, valued at approximately $1,553,250. The trade was a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Laura Brege sold 14,446 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total value of $314,633.88. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 25,271 shares of company stock worth $525,079 over the last ninety days. Corporate insiders own 26.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ACAD shares. Bank of America raised their price objective on ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Thursday, June 5th. Oppenheimer restated a "market perform" rating and set a $22.00 price objective (up from $19.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. JPMorgan Chase & Co. raised their price objective on ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Royal Bank Of Canada raised their price objective on ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Finally, HC Wainwright restated a "buy" rating and set a $32.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.88.

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.