AlphaCentric Advisors LLC Sells 60,000 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

AlphaCentric Advisors LLC decreased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 60.0% during the third quarter, according to its most recent disclosure with the Securities & 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.

A number of other large investors also recently modified their holdings of ACAD. Marshall Wace LLP boosted its stake in shares of ACADIA Pharmaceuticals by 431.1% during the second quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock valued at $45,083,000 after purchasing an additional 2,251,940 shares during the period. Millennium Management LLC raised its stake in ACADIA Pharmaceuticals by 36.2% in the second quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock worth $47,738,000 after buying an additional 781,070 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $10,550,000. Fred Alger Management LLC grew its position in shares of ACADIA Pharmaceuticals by 19.8% in the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock worth $43,947,000 after buying an additional 446,875 shares during the period. Finally, SG Americas Securities LLC grew its holdings in ACADIA Pharmaceuticals by 419.8% in the third quarter. SG Americas Securities LLC now owns 517,124 shares of the biopharmaceutical company’s stock worth $7,953,000 after purchasing an additional 417,648 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACAD has been the subject of several recent analyst reports. Needham & Company LLC lowered their price target 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. StockNews.com raised shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. Citigroup dropped their price target on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald cut their price target on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Stock Performance

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

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $241.96 million for the quarter, compared to the consensus estimate of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The firm’s revenue was up 46.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 earnings per share. Research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.49 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

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

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.