ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC cut its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 72.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,341 shares of the biopharmaceutical company's stock after selling 34,916 shares during the quarter. Headlands Technologies LLC's holdings in ACADIA Pharmaceuticals were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. CM Management LLC lifted its stake in ACADIA Pharmaceuticals by 7.1% in the first quarter. CM Management LLC now owns 75,000 shares of the biopharmaceutical company's stock worth $1,246,000 after acquiring an additional 5,000 shares during the period. Vanguard Group Inc. raised its holdings in ACADIA Pharmaceuticals by 9.0% in the first quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock worth $252,526,000 after purchasing an additional 1,255,594 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 545.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,438 shares of the biopharmaceutical company's stock valued at $90,000 after acquiring an additional 4,596 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at about $6,761,000. Finally, Natixis Advisors LLC increased its holdings in ACADIA Pharmaceuticals by 33.8% in the 1st quarter. Natixis Advisors LLC now owns 62,895 shares of the biopharmaceutical company's stock worth $1,045,000 after buying an additional 15,888 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In other news, Director Laura Brege sold 14,446 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the transaction, the director owned 15,095 shares of the company's stock, valued at $328,769.10. This represents a 48.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 26.50% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Stock Up 1.8%

Shares of ACAD traded up $0.44 during trading hours on Friday, reaching $24.97. 550,093 shares of the company traded hands, compared to its average volume of 2,174,521. The stock has a market capitalization of $4.21 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 6.40 and a beta of 0.70. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $25.88. The stock has a fifty day simple moving average of $22.65 and a 200 day simple moving average of $19.44.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wall Street Zen upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. BMO Capital Markets raised 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. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. The Goldman Sachs Group lifted their price target on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the stock a "sell" rating in a report on Thursday, August 7th. Finally, Morgan Stanley set a $24.00 price objective on ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.88.

ACADIA Pharmaceuticals 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.