Emerald Advisers LLC Has $637,000 Stock Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Emerald Advisers LLC cut its ACADIA Pharmaceuticals stake by 96.5% in the first quarter, leaving it with 28,637 shares worth about $637,000.
• ACADIA reported Q1 earnings of $0.02 per share, missing estimates of $0.04, while revenue of $268.1 million also came in below expectations. Revenue still rose 9.7% year over year.
• Analysts remain mostly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $32.94. Recent insider activity showed executives selling shares, while institutional investors still own 96.71% of the company.

Emerald Advisers LLC trimmed its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 96.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,637 shares of the biopharmaceutical company's stock after selling 782,560 shares during the quarter. Emerald Advisers LLC's holdings in ACADIA Pharmaceuticals were worth $637,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ACAD. State Street Corp lifted its stake in shares of ACADIA Pharmaceuticals by 9.0% during the 4th quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company's stock worth $211,296,000 after buying an additional 655,257 shares during the last quarter. Geode Capital Management LLC grew its stake in ACADIA Pharmaceuticals by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company's stock valued at $86,539,000 after buying an additional 106,807 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in ACADIA Pharmaceuticals by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,920,974 shares of the biopharmaceutical company's stock valued at $78,019,000 after buying an additional 122,840 shares during the last quarter. Marshall Wace LLP raised its holdings in ACADIA Pharmaceuticals by 19.8% in the 3rd quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company's stock valued at $50,339,000 after acquiring an additional 389,170 shares during the period. Finally, First Trust Advisors LP raised its holdings in ACADIA Pharmaceuticals by 16.8% in the 4th quarter. First Trust Advisors LP now owns 2,270,034 shares of the biopharmaceutical company's stock valued at $60,633,000 after acquiring an additional 326,882 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Trading Down 0.0%

Shares of ACAD opened at $25.49 on Wednesday. ACADIA Pharmaceuticals Inc. has a 12 month low of $19.69 and a 12 month high of $28.35. The firm's 50 day moving average is $22.70 and its 200-day moving average is $23.33. The stock has a market capitalization of $4.36 billion, a PE ratio of 11.59, a P/E/G ratio of 18.37 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $268.10 million during the quarter, compared to the consensus estimate of $280.25 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The company's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. Equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, insider James Kihara sold 5,401 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the transaction, the insider directly owned 24,509 shares of the company's stock, valued at $519,100.62. The trade was a 18.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark C. Schneyer sold 3,506 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total value of $76,395.74. Following the sale, the executive vice president owned 66,145 shares of the company's stock, valued at approximately $1,441,299.55. The trade was a 5.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 10,239 shares of company stock worth $219,813. Corporate insiders own 26.20% of the company's stock.

Wall Street Analyst Weigh In

ACAD has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, June 29th. Bank of America increased their target price on ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. HC Wainwright cut ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Tuesday, June 30th. Royal Bank Of Canada boosted their price target on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an "outperform" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings lowered ACADIA Pharmaceuticals from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.94.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA's research centers concentrate on conditions with significant unmet medical needs, including Parkinson's disease psychosis, Alzheimer's disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company's flagship product, NUPLAZID® (pimavanserin), received U.S.

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