Point72 Asia Singapore Pte. Ltd. Sells 11,980 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 72.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,538 shares of the biopharmaceutical company’s stock after selling 11,980 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in ACADIA Pharmaceuticals were worth $74,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $4,479,000. Perceptive Advisors LLC bought a new position in ACADIA Pharmaceuticals during the fourth quarter valued at about $3,162,000. UBS Group AG lifted its position in shares of ACADIA Pharmaceuticals by 112.4% in the fourth quarter. UBS Group AG now owns 307,359 shares of the biopharmaceutical company’s stock worth $9,623,000 after buying an additional 162,663 shares during the last quarter. M&G Plc bought a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth about $5,622,000. Finally, Capital Fund Management S.A. increased its holdings in shares of ACADIA Pharmaceuticals by 38.8% during the 4th quarter. Capital Fund Management S.A. now owns 243,812 shares of the biopharmaceutical company’s stock valued at $7,634,000 after acquiring an additional 68,120 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $15.69 on Monday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -1,569.00, a PEG ratio of 0.55 and a beta of 0.40. The company has a 50-day moving average of $16.57 and a 200-day moving average of $16.56. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.55 and a 52 week high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $241.96 million for the quarter, compared to analyst estimates of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company’s revenue was up 46.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. Sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ACAD shares. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, August 8th. Cantor Fitzgerald lowered their target price on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada cut their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Needham & Company LLC lowered their price target on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, UBS Group cut 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. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

Insiders Place Their Bets

In other news, COO Brendan Teehan sold 9,534 shares of the business’s 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 sale, the chief operating officer now owns 52,177 shares in the company, valued at approximately $797,264.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals 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 completion of 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction dated 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. The disclosure for this sale can be found here. Insiders sold 51,014 shares of company stock worth $779,494 over the last three months. 28.30% of the stock is currently 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.