ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 10.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 413,269 shares of the biopharmaceutical company’s stock after selling 48,809 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.25% of ACADIA Pharmaceuticals worth $6,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Park Place Capital Corp purchased a new stake in shares of ACADIA Pharmaceuticals during the third quarter worth about $25,000. Values First Advisors Inc. purchased a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth approximately $27,000. Quest Partners LLC raised its position in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares in the last quarter. Stonepine Capital Management LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at approximately $81,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 1,066 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ACAD. HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Citigroup lowered their price target on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, UBS Group reduced their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $16.71 on Friday. The stock’s 50 day simple moving average is $15.69 and its 200 day simple moving average is $16.05. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $32.59. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 21.42 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. The business had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. ACADIA Pharmaceuticals’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) EPS. On average, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 10,259 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $172,453.79. Following the transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at $896,006.62. The trade was a 16.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the sale, the insider now directly owns 19,863 shares of the company’s stock, valued at $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is owned by corporate insiders.

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.