Nuveen Asset Management LLC Trims Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Nuveen Asset Management LLC reduced its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,347,093 shares of the biopharmaceutical company's stock after selling 15,892 shares during the period. Nuveen Asset Management LLC owned about 0.81% of ACADIA Pharmaceuticals worth $24,719,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC raised its position in ACADIA Pharmaceuticals by 55.5% in the fourth quarter. Lazard Asset Management LLC now owns 150,928 shares of the biopharmaceutical company's stock valued at $2,768,000 after purchasing an additional 53,885 shares during the last quarter. Laurion Capital Management LP bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $1,815,000. Jefferies Financial Group Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $2,106,000. Gotham Asset Management LLC raised its holdings in ACADIA Pharmaceuticals by 95.8% in the 4th quarter. Gotham Asset Management LLC now owns 69,966 shares of the biopharmaceutical company's stock valued at $1,284,000 after buying an additional 34,240 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $1,134,000. 96.71% of the stock is owned by institutional investors.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 2,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the completion of the transaction, the executive vice president now directly owns 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 4,000 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $22.50, for a total value of $90,000.00. Following the transaction, the insider now owns 20,395 shares in the company, valued at $458,887.50. This trade represents a 16.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,746 shares of company stock valued at $428,221 in the last quarter. 28.30% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock traded down $0.09 on Wednesday, reaching $22.10. 228,432 shares of the company's stock were exchanged, compared to its average volume of 1,927,386. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $25.23. The firm's 50-day moving average is $16.57 and its two-hundred day moving average is $17.39. The company has a market capitalization of $3.70 billion, a P/E ratio of 28.40 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company 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 25.83% and a net margin of 13.83%. ACADIA Pharmaceuticals's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share. On average, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on ACAD shares. Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley set a $24.00 price objective on shares of ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. HC Wainwright increased their price objective on ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the company a "buy" rating in a report on Monday, May 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $26.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, May 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and upped their price target for the company from $20.00 to $35.00 in a research report on Wednesday, May 21st. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $26.83.

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.