SG Americas Securities LLC Trims Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

SG Americas Securities LLC trimmed its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 99.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,150 shares of the biopharmaceutical company's stock after selling 2,465,581 shares during the quarter. SG Americas Securities LLC's holdings in ACADIA Pharmaceuticals were worth $301,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of ACADIA Pharmaceuticals by 627.3% during the first quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock valued at $58,000 after purchasing an additional 3,030 shares in the last quarter. Yousif Capital Management LLC bought a new stake in ACADIA Pharmaceuticals during the 1st quarter worth approximately $764,000. Hennion & Walsh Asset Management Inc. increased its position in ACADIA Pharmaceuticals by 26.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 131,061 shares of the biopharmaceutical company's stock valued at $2,177,000 after acquiring an additional 27,736 shares during the period. Rhumbline Advisers raised its stake in shares of ACADIA Pharmaceuticals by 100.9% during the first quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company's stock valued at $5,859,000 after acquiring an additional 177,188 shares during the last quarter. Finally, Summit Global Investments bought a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at $398,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Insider Activity

In related news, Director Laura Brege sold 14,446 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total value of $314,633.88. Following the completion of the sale, the director now owns 15,095 shares in the company, valued at $328,769.10. The trade was a 48.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 2,000 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the transaction, the executive vice president now directly owns 62,130 shares in the company, valued at $1,553,250. This trade represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,007 shares of company stock worth $580,446 in the last three months. Corporate insiders own 26.50% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on ACAD shares. Oppenheimer reiterated a "market perform" rating and issued a $22.00 target price (up from $19.00) on shares of ACADIA Pharmaceuticals in a report on Thursday. JMP Securities restated a "market outperform" rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday. Wall Street Zen upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Bank of America boosted their target price on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the company a "hold" rating in a report on Thursday, June 5th. Finally, Morgan Stanley set a $24.00 price target on shares of ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.88.

ACADIA Pharmaceuticals Stock Down 0.4%

ACAD stock traded down $0.09 during midday trading on Friday, hitting $22.12. The company's stock had a trading volume of 3,000,828 shares, compared to its average volume of 1,960,585. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 4.80 and a beta of 0.65. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $25.23. The stock's 50-day moving average price is $19.45 and its 200 day moving average price is $18.19.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The business 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 17.46% and a net margin of 22.97%. ACADIA Pharmaceuticals's revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, equities analysts forecast 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.