Rafferty Asset Management LLC Trims Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Rafferty Asset Management LLC reduced its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 47.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 150,234 shares of the biopharmaceutical company's stock after selling 135,507 shares during the quarter. Rafferty Asset Management LLC owned about 0.09% of ACADIA Pharmaceuticals worth $2,757,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ACAD. R Squared Ltd purchased a new position in ACADIA Pharmaceuticals during the 4th quarter worth $47,000. KBC Group NV increased its holdings in shares of ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after acquiring an additional 2,044 shares during the period. Globeflex Capital L P purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $168,000. Xponance Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $186,000. Finally, Vinva Investment Management Ltd purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $187,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACAD has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target on the stock. UBS Group cut their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Morgan Stanley reiterated an "equal weight" rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Robert W. Baird lifted their price target on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Monday. Finally, HC Wainwright lifted their price target on ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the company a "buy" rating in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $25.42.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now owns 17,595 shares of the company's stock, valued at approximately $320,756.85. The trade was a 21.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $50,000.00. Following the sale, the executive vice president now directly owns 62,130 shares of the company's stock, valued at approximately $1,553,250. This represents a 3.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,994 shares of company stock valued at $453,131. 26.50% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $21.99 on Tuesday. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 28.19 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $25.23. The business has a fifty day moving average price of $16.01 and a 200-day moving average price of $17.16.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $244.32 million during the quarter, compared to analysts' expectations of $239.32 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm's revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

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.

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