ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC reduced its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 60.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,000 shares of the biopharmaceutical company’s stock after selling 60,000 shares during the period. AlphaCentric Advisors LLC’s holdings in ACADIA Pharmaceuticals were worth $615,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Park Place Capital Corp purchased a new position in ACADIA Pharmaceuticals in the 3rd quarter worth approximately $25,000. Values First Advisors Inc. acquired a new position in ACADIA Pharmaceuticals in the third quarter worth about $27,000. Covestor Ltd increased its holdings in shares of ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 840 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the first quarter worth $48,000. Finally, Stonepine Capital Management LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $81,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ACAD. Cantor Fitzgerald lowered their target price on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Royal Bank of Canada decreased their price target on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Needham & Company LLC decreased their target price on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Morgan Stanley downgraded ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $28.00 to $20.00 in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $14.62 on Tuesday. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $32.59. The stock has a 50-day simple moving average of $15.45 and a 200 day simple moving average of $16.00. The company has a market cap of $2.43 billion, a PE ratio of 81.22 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $241.96 million during the quarter, compared to analysts’ expectations of $235.95 million. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The business’s revenue for the quarter was up 46.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS. On average, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.49 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 31,747 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the sale, the chief executive officer now owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the transaction, the chief operating officer now owns 52,177 shares in the company, valued at $797,264.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen Davis sold 31,747 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the sale, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at $2,850,560.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,014 shares of company stock worth $779,494 in the last quarter. 28.30% of the stock is owned by 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.