ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Edgestream Partners L.P.

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

A number of other institutional investors and hedge funds also recently modified their holdings of the business. GF Fund Management CO. LTD. grew its position in shares of ACADIA Pharmaceuticals by 21.9% during the first 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 in the last quarter. Summit Investment Advisors Inc. grew its holdings in ACADIA Pharmaceuticals by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company's stock worth $230,000 after purchasing an additional 795 shares during the last quarter. Xponance Inc. lifted its position in ACADIA Pharmaceuticals by 14.1% during the first quarter. Xponance Inc. now owns 11,585 shares of the biopharmaceutical company's stock valued at $192,000 after purchasing an additional 1,434 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of ACADIA Pharmaceuticals in the first quarter worth about $29,000. Finally, Arete Wealth Advisors LLC raised its position 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 purchasing an additional 1,875 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACAD has been the subject of a number of analyst reports. HC Wainwright reissued a "buy" rating and issued a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. UBS Group reduced their target price on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. BMO Capital Markets increased their price objective on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Robert W. Baird upped their price target on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Finally, Mizuho raised their target price on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.88.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, Director Laura Brege sold 14,446 shares of ACADIA Pharmaceuticals 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 sale, the director directly owned 15,095 shares in the company, valued at approximately $328,769.10. The trade was a 48.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Kihara sold 4,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.50, for a total transaction of $90,000.00. Following the transaction, the insider directly owned 20,395 shares in the company, valued at approximately $458,887.50. This represents a 16.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,271 shares of company stock valued at $525,079 over the last quarter. Corporate insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD traded down $0.28 during mid-day trading on Monday, hitting $22.28. 889,614 shares of the company's stock traded hands, compared to its average volume of 1,969,045. The company has a market cap of $3.73 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 4.86 and a beta of 0.64. The firm's 50 day simple moving average is $21.58 and its 200 day simple moving average is $18.67. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its 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 firm had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business's quarterly revenue was up 18.7% on a year-over-year basis. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

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.