AM Investment Strategies LLC Trims Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

AM Investment Strategies LLC lowered its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,100 shares of the biopharmaceutical company’s stock after selling 900 shares during the period. AM Investment Strategies LLC’s holdings in ACADIA Pharmaceuticals were worth $504,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 2,070 shares in the last quarter. Legato Capital Management LLC acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $206,000. Acadian Asset Management LLC acquired a new position in ACADIA Pharmaceuticals during the 3rd quarter worth approximately $184,000. First Hawaiian Bank acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $284,000. Finally, Xponance Inc. acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $299,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the sale, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Brendan Teehan sold 5,140 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $92,006.00. Following the sale, the chief operating officer now owns 36,340 shares in the company, valued at $650,486. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the sale, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The disclosure for this sale can be found here. Insiders have sold 69,383 shares of company stock valued at $1,291,362 in the last ninety days. Insiders own 27.50% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD traded down $0.28 during trading hours on Thursday, reaching $16.31. The company’s stock had a trading volume of 1,660,612 shares, compared to its average volume of 1,765,577. The stock has a market cap of $2.69 billion, a PE ratio of -42.87 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $16.16 and a fifty-two week high of $33.99. The company’s 50-day moving average is $20.29 and its two-hundred day moving average is $23.64.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The business had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. ACADIA Pharmaceuticals’s revenue was up 69.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.26) earnings per share. Equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. JPMorgan Chase & Co. lowered their price target on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 10th. TheStreet upgraded shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada lowered their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.82.

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.