Truist Financial Corp Has $2 Million Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Truist Financial Corp lessened its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 33.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,926 shares of the biopharmaceutical company’s stock after selling 32,824 shares during the quarter. Truist Financial Corp’s holdings in ACADIA Pharmaceuticals were worth $2,002,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACAD. Handelsbanken Fonder AB boosted its position in shares of ACADIA Pharmaceuticals by 2.3% in the fourth quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock worth $990,000 after buying an additional 700 shares during the period. Phocas Financial Corp. boosted its position in ACADIA Pharmaceuticals by 1.9% during the 4th quarter. Phocas Financial Corp. now owns 66,957 shares of the biopharmaceutical company’s stock worth $2,096,000 after acquiring an additional 1,266 shares during the period. Alps Advisors Inc. grew its stake in ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Alps Advisors Inc. now owns 120,810 shares of the biopharmaceutical company’s stock valued at $2,518,000 after acquiring an additional 1,274 shares in the last quarter. Raymond James & Associates increased its holdings in shares of ACADIA Pharmaceuticals by 18.1% in the 3rd quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 1,630 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 2,070 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ACAD shares. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. JMP Securities reissued a “market outperform” rating and set a $42.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday. Finally, TheStreet raised shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $29.38.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the completion of the sale, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 5,434 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $97,268.60. Following the sale, the chief financial officer now owns 26,183 shares of the company’s stock, valued at approximately $468,675.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen Davis sold 5,577 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the transaction, the chief executive officer now owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The disclosure for this sale can be found here. Insiders have sold 89,116 shares of company stock worth $1,625,639 over the last three months. Company insiders own 27.50% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 11.2 %

ACAD opened at $15.21 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $15.17 and a 12-month high of $33.99. The stock’s 50 day moving average price is $18.50 and its two-hundred day moving average price is $23.16. The firm has a market capitalization of $2.51 billion, a P/E ratio of -40.03 and a beta of 0.42.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.06. The company had revenue of $205.83 million for the quarter, compared to analyst estimates of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business’s quarterly revenue was up 73.8% on a year-over-year basis. During the same period last year, the business posted ($0.27) EPS. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current year.

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.