Arete Wealth Advisors LLC Sells 3,875 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Arete Wealth Advisors LLC trimmed its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 24.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,825 shares of the biopharmaceutical company’s stock after selling 3,875 shares during the period. Arete Wealth Advisors LLC’s holdings in ACADIA Pharmaceuticals were worth $182,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace LLP lifted its holdings in ACADIA Pharmaceuticals by 431.1% in the 2nd quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock worth $45,083,000 after purchasing an additional 2,251,940 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of 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. Iron Triangle Partners LP bought a new position in shares of ACADIA Pharmaceuticals during the third quarter worth $11,535,000. Dimensional Fund Advisors LP purchased a new position in ACADIA Pharmaceuticals during the second quarter valued at $10,550,000. Finally, Eventide Asset Management LLC bought a new stake in ACADIA Pharmaceuticals in the 3rd quarter valued at $8,882,000. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $17.26 on Friday. The stock’s 50 day moving average price is $16.00 and its 200-day moving average price is $16.16. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $32.59. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 22.13 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $248.83 million. During the same quarter in the previous year, the business earned ($0.40) EPS. ACADIA Pharmaceuticals’s revenue was up 18.3% compared to the same quarter last year. As a group, analysts predict that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,073 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the transaction, the insider now owns 19,863 shares of the company’s stock, valued at $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the sale, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at approximately $896,006.62. This trade represents a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,661 shares of company stock worth $414,551. Insiders own 28.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.60.

ACADIA Pharmaceuticals Company 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.