ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Position Cut by AQR Capital Management LLC

AQR Capital Management LLC lessened its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 23.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,191 shares of the biopharmaceutical company’s stock after selling 11,356 shares during the period. AQR Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $588,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Point72 Europe London LLP acquired a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth approximately $822,000. Fred Alger Management LLC grew its holdings in ACADIA Pharmaceuticals by 19.8% during the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock worth $43,947,000 after acquiring an additional 446,875 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of ACADIA Pharmaceuticals by 47.6% during the second quarter. Cubist Systematic Strategies LLC now owns 666,578 shares of the biopharmaceutical company’s stock worth $10,832,000 after purchasing an additional 215,060 shares in the last quarter. Marshall Wace LLP boosted its position in shares of ACADIA Pharmaceuticals by 431.1% during the second quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock worth $45,083,000 after purchasing an additional 2,251,940 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of ACADIA Pharmaceuticals during the second quarter worth $1,570,000. Institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ACAD shares. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. UBS Group cut their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Needham & Company LLC cut their price target on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. BMO Capital Markets began coverage on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 27th. They issued an “outperform” rating and a $31.00 price objective for the company. Finally, Citigroup decreased their price target on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Stock Up 0.5 %

Shares of NASDAQ:ACAD opened at $14.99 on Tuesday. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.31 and a 52-week high of $32.59. The stock’s fifty day simple moving average is $15.75 and its 200-day simple moving average is $16.29. The company has a market capitalization of $2.48 billion, a P/E ratio of -1,499.00, a P/E/G ratio of 0.49 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its 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 company had revenue of $241.96 million during the quarter, compared to the consensus estimate of $235.95 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The company’s revenue was up 46.4% compared to the same quarter last year. On average, sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction dated 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 owns 52,177 shares in the company, valued at $797,264.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Stephen Davis sold 31,747 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 transaction of $485,094.16. Following the sale, the chief executive officer now directly owns 186,555 shares in the company, valued at $2,850,560.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,014 shares of company stock worth $779,494 in the last three months. 28.30% of the stock is currently owned by insiders.

About ACADIA Pharmaceuticals

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.