SG Americas Securities LLC Sells 2,465,581 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

SG Americas Securities LLC decreased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 99.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,150 shares of the biopharmaceutical company’s stock after selling 2,465,581 shares during the quarter. SG Americas Securities LLC’s holdings in ACADIA Pharmaceuticals were worth $301,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ACAD. Proficio Capital Partners LLC acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth about $272,000. Vanguard Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock valued at $255,939,000 after buying an additional 104,444 shares during the period. Victory Capital Management Inc. raised its position in shares of ACADIA Pharmaceuticals by 66.9% during the fourth quarter. Victory Capital Management Inc. now owns 162,125 shares of the biopharmaceutical company’s stock worth $2,975,000 after acquiring an additional 64,995 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 10.9% in the fourth quarter. Principal Financial Group Inc. now owns 143,694 shares of the biopharmaceutical company’s stock worth $2,637,000 after acquiring an additional 14,143 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 55.2% in the fourth quarter. American Century Companies Inc. now owns 141,265 shares of the biopharmaceutical company’s stock worth $2,592,000 after acquiring an additional 50,238 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the completion of the transaction, the insider now directly owns 20,395 shares of the company’s stock, valued at $458,887.50. This represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 3,498 shares of ACADIA Pharmaceuticals stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $14.60, for a total value of $51,070.80. Following the sale, the executive vice president now owns 62,773 shares in the company, valued at $916,485.80. This trade represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,007 shares of company stock valued at $580,446. 26.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ACAD. Bank of America raised their price target on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, June 5th. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $35.00 in a research note on Wednesday, May 21st. Morgan Stanley set a $24.00 price target on shares of ACADIA Pharmaceuticals and gave the company an “equal weight” rating in a research report on Tuesday, May 20th. Finally, Royal Bank Of Canada lifted their price objective on ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.88.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $22.21 on Friday. The company has a 50-day moving average price of $19.45 and a 200-day moving average price of $18.19. The stock has a market capitalization of $3.72 billion, a P/E ratio of 16.21, a P/E/G ratio of 4.80 and a beta of 0.65. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The firm had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. During the same period in the previous year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

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.