WCM Investment Management LLC Has $4.50 Million Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

WCM Investment Management LLC decreased its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 1.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 286,527 shares of the biopharmaceutical company’s stock after selling 2,890 shares during the period. WCM Investment Management LLC’s holdings in ACADIA Pharmaceuticals were worth $4,496,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ACAD. Park Place Capital Corp acquired a new position in ACADIA Pharmaceuticals during the 3rd quarter worth $25,000. Values First Advisors Inc. acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $27,000. Covestor Ltd boosted its stake in ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares during the period. Headlands Technologies LLC acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at approximately $48,000. Finally, Stonepine Capital Management LLC bought a new position in ACADIA Pharmaceuticals in the 2nd quarter worth approximately $81,000. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD opened at $18.27 on Tuesday. The company has a market capitalization of $3.03 billion, a PE ratio of 23.42 and a beta of 0.38. The company’s fifty day moving average is $15.48 and its 200-day moving average is $15.98. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 27.29%. The firm had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. During the same period in the prior year, the firm earned ($0.40) earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.51 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals stock in a transaction on 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 transaction, the chief executive officer now owns 186,555 shares in the company, valued at approximately $2,850,560.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Brendan Teehan sold 9,534 shares of the firm’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 sale, the chief operating officer now 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the transaction, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,014 shares of company stock valued at $779,494 in the last three months. Corporate insiders own 28.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ACAD. UBS Group reduced their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Cantor Fitzgerald dropped their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley cut shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

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.