TD Asset Management Inc Lowers Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

TD Asset Management Inc cut its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 78.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,296 shares of the biopharmaceutical company’s stock after selling 82,800 shares during the period. TD Asset Management Inc’s holdings in ACADIA Pharmaceuticals were worth $379,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in ACADIA Pharmaceuticals by 1.2% during the second quarter. Rhumbline Advisers now owns 186,500 shares of the biopharmaceutical company’s stock valued at $3,031,000 after purchasing an additional 2,121 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of ACADIA Pharmaceuticals by 43.2% in the second quarter. Natixis Advisors LLC now owns 25,527 shares of the biopharmaceutical company’s stock valued at $415,000 after acquiring an additional 7,697 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of ACADIA Pharmaceuticals by 5.6% in the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after acquiring an additional 778 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of ACADIA Pharmaceuticals by 85.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 108,838 shares of the biopharmaceutical company’s stock valued at $1,769,000 after acquiring an additional 49,992 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of ACADIA Pharmaceuticals by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 525,566 shares of the biopharmaceutical company’s stock valued at $8,540,000 after acquiring an additional 22,513 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ACADIA Pharmaceuticals

In other news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at $797,264.56. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at $797,264.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark C. Schneyer sold 9,733 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $148,720.24. Following the completion of the sale, the chief financial officer now owns 43,735 shares in the company, valued at $668,270.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,014 shares of company stock worth $779,494. 28.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ACAD has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 8th. Cantor Fitzgerald lowered their price objective on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley downgraded ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. Citigroup reduced their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC dropped their price target on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $16.32 on Monday. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.55 and a 1 year high of $32.59. The stock’s 50 day simple moving average is $16.90 and its two-hundred day simple moving average is $17.04. The company has a market cap of $2.71 billion, a PE ratio of -1,630.37, a price-to-earnings-growth ratio of 0.53 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The firm had revenue of $241.96 million for the quarter, compared to the consensus estimate of $235.95 million. During the same period in the prior year, the business posted $0.01 earnings per share. The company’s revenue for the quarter was up 46.4% on a year-over-year basis. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current 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.