Voloridge Investment Management LLC Reduces Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Voloridge Investment Management LLC trimmed its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 44.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 725,508 shares of the biopharmaceutical company's stock after selling 583,485 shares during the quarter. Voloridge Investment Management LLC owned about 0.44% of ACADIA Pharmaceuticals worth $13,313,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Virtus Fund Advisers LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $39,000. R Squared Ltd bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $47,000. KBC Group NV increased its stake 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 in the last quarter. Globeflex Capital L P acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $168,000. Finally, Xponance Inc. acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $186,000. 96.71% of the stock is owned by institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the transaction, the director now directly owns 17,595 shares in the company, valued at $320,756.85. The trade was a 21.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 2,000 shares of the company's stock in a transaction that occurred 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 owns 62,130 shares in the company, valued at $1,553,250. This represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,746 shares of company stock worth $428,221 in the last 90 days. Corporate insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock traded up $0.44 during mid-day trading on Thursday, reaching $22.46. 322,745 shares of the company were exchanged, compared to its average volume of 1,929,287. The business has a fifty day moving average of $16.68 and a 200 day moving average of $17.42. The firm has a market cap of $3.76 billion, a P/E ratio of 28.73 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. The firm's quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. Sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ACAD. Oppenheimer restated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Friday, May 16th. Morgan Stanley set a $24.00 price target on ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Mizuho lifted their price objective on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Wall Street Zen upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Finally, UBS Group lowered their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.