Ensign Peak Advisors Inc Sells 101,470 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Ensign Peak Advisors Inc trimmed its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) by 71.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,000 shares of the biopharmaceutical company’s stock after selling 101,470 shares during the period. Ensign Peak Advisors Inc’s holdings in ACADIA Pharmaceuticals were worth $654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACAD. Raymond James Financial Services Advisors Inc. bought a new position in ACADIA Pharmaceuticals during the 1st quarter worth about $572,000. HighTower Advisors LLC bought a new position in ACADIA Pharmaceuticals during the 1st quarter worth about $1,077,000. MetLife Investment Management LLC lifted its position in shares of ACADIA Pharmaceuticals by 54.0% during the first quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock valued at $1,607,000 after buying an additional 23,265 shares during the last quarter. Rhumbline Advisers lifted its position in shares of ACADIA Pharmaceuticals by 3.9% during the first quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock valued at $3,232,000 after buying an additional 5,011 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of ACADIA Pharmaceuticals during the first quarter valued at about $1,380,000. 92.79% of the stock is currently owned by institutional investors.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 3,851 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $18.78, for a total transaction of $72,321.78. Following the sale, the chief executive officer now owns 91,727 shares of the company’s stock, valued at approximately $1,722,633.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Stephen Davis sold 3,851 shares of ACADIA Pharmaceuticals stock in a transaction on Friday, February 24th. The shares were sold at an average price of $18.78, for a total value of $72,321.78. Following the sale, the chief executive officer now owns 91,727 shares of the company’s stock, valued at approximately $1,722,633.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura Brege sold 12,500 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $18.25, for a total transaction of $228,125.00. The disclosure for this sale can be found here. Insiders have sold 23,567 shares of company stock valued at $427,672 in the last 90 days. 28.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup increased their price target on shares of ACADIA Pharmaceuticals from $19.00 to $19.40 and gave the company a “neutral” rating in a research report on Tuesday, February 28th. Oppenheimer increased their price target on shares of ACADIA Pharmaceuticals from $17.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, March 1st. JMP Securities decreased their price target on shares of ACADIA Pharmaceuticals from $24.00 to $22.00 and set a “market perform” rating for the company in a research report on Tuesday, February 28th. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of ACADIA Pharmaceuticals from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, November 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.52.

ACADIA Pharmaceuticals Trading Down 4.7 %

ACAD opened at $19.41 on Tuesday. The firm has a market capitalization of $3.15 billion, a PE ratio of -14.49 and a beta of 0.59. ACADIA Pharmaceuticals Inc. has a 12-month low of $12.24 and a 12-month high of $28.06. The firm has a 50 day moving average of $18.93 and a two-hundred day moving average of $17.04.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The firm had revenue of $136.49 million for the quarter, compared to analyst estimates of $135.18 million. ACADIA Pharmaceuticals had a negative return on equity of 50.65% and a negative net margin of 41.76%. ACADIA Pharmaceuticals’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.27) EPS. As a group, analysts predict that ACADIA Pharmaceuticals Inc. will post -0.66 EPS for the current fiscal year.

ACADIA Pharmaceuticals Company Profile

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ACADIA Pharmaceuticals, Inc is a biopharmaceutical company, which focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. Its products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.