Massachusetts Financial Services Co. MA Has $1.02 Million Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Massachusetts Financial Services Co. MA grew its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,530 shares of the biopharmaceutical company’s stock after buying an additional 2,100 shares during the period. Massachusetts Financial Services Co. MA’s holdings in ACADIA Pharmaceuticals were worth $1,016,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at about $39,000. Covestor Ltd grew its position in shares of ACADIA Pharmaceuticals by 70.5% in 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 position in shares of ACADIA Pharmaceuticals in the 1st quarter valued at approximately $48,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $100,000. Finally, Acadian Asset Management LLC acquired a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth approximately $111,000. Institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

ACAD has been the subject of several research analyst reports. BMO Capital Markets started coverage on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 27th. They set an “outperform” rating and a $31.00 price objective for the company. Royal Bank of Canada lowered their target price on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. 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. Finally, Cantor Fitzgerald dropped their target price 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. Five 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Price Performance

ACAD stock opened at $16.53 on Monday. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -1,653.00, a price-to-earnings-growth ratio of 0.53 and a beta of 0.40. The company has a fifty day moving average price of $16.81 and a two-hundred day moving average price of $16.79. ACADIA Pharmaceuticals Inc. has a one year low of $14.55 and a one year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $241.96 million for the quarter, compared to analyst estimates of $235.95 million. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. ACADIA Pharmaceuticals’s quarterly revenue was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 EPS. Research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 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 $145,679.52. Following the transaction, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the transaction, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the sale, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,014 shares of company stock worth $779,494. Company insiders own 28.30% of the company’s stock.

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.