Charles Schwab Investment Management Inc. Has $19.55 Million Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Charles Schwab Investment Management Inc. lessened its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,271,135 shares of the biopharmaceutical company’s stock after selling 4,144 shares during the period. Charles Schwab Investment Management Inc. owned about 0.77% of ACADIA Pharmaceuticals worth $19,550,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Place Capital Corp bought a new stake in ACADIA Pharmaceuticals in the third quarter valued at approximately $25,000. Values First Advisors Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $27,000. Quest Partners LLC lifted 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 worth $54,000 after purchasing an additional 1,047 shares during the period. Stonepine Capital Management LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at $81,000. Finally, Mirae Asset Global Investments Co. Ltd. increased 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 during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

ACAD has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $17.28 on Friday. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $32.59. The stock has a 50 day moving average price of $15.72 and a two-hundred day moving average price of $16.06. The firm has a market capitalization of $2.88 billion, a P/E ratio of 22.15 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. 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 posted ($0.40) EPS. On average, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 10,329 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $173,630.49. Following the completion of the transaction, the chief operating officer now owns 62,105 shares in the company, valued at $1,043,985.05. This represents a 14.26 % decrease in their position. The sale was disclosed in a document filed 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 approximately $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,661 shares of company stock valued at $414,551 over the last ninety days. Corporate 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.