AM Investment Strategies LLC Sells 900 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

AM Investment Strategies LLC lowered its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,100 shares of the biopharmaceutical company’s stock after selling 900 shares during the period. AM Investment Strategies LLC’s holdings in ACADIA Pharmaceuticals were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 97.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 2,070 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at about $184,000. Legato Capital Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $206,000. Raymond James & Associates lifted its holdings in shares of ACADIA Pharmaceuticals by 18.1% during the 3rd quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 1,630 shares in the last quarter. Finally, First Hawaiian Bank bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $284,000. Institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ACAD shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 10th. JPMorgan Chase & Co. dropped their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Oppenheimer reaffirmed a “market perform” rating and set a $25.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. Robert W. Baird initiated coverage on ACADIA Pharmaceuticals in a research report on Tuesday, January 30th. They set an “outperform” rating and a $40.00 price target on the stock. Finally, Royal Bank of Canada lowered their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.82.

ACADIA Pharmaceuticals Stock Down 1.7 %

Shares of ACAD stock traded down $0.28 during trading on Thursday, reaching $16.31. 1,660,612 shares of the company’s stock were exchanged, compared to its average volume of 1,765,577. The stock has a market capitalization of $2.69 billion, a PE ratio of -42.87 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a twelve month low of $16.16 and a twelve month high of $33.99. The firm’s fifty day moving average price is $20.29 and its 200-day moving average price is $23.64.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The firm had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business’s revenue for the quarter was up 69.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.26) earnings per share. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 5,577 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the completion of the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at approximately $2,513,626.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mark C. Schneyer sold 5,434 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $97,268.60. Following the completion of the sale, the chief financial officer now directly owns 26,183 shares in the company, valued at approximately $468,675.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the sale, the chief executive officer now owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The disclosure for this sale can be found here. Insiders sold 69,383 shares of company stock worth $1,291,362 in the last ninety days. 27.50% of the stock is owned by company insiders.

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.