Allspring Global Investments Holdings LLC Grows Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Allspring Global Investments Holdings LLC increased its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 11.7% in the third quarter, Holdings Channel.com reports. The fund owned 121,625 shares of the biopharmaceutical company’s stock after purchasing an additional 12,787 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ACADIA Pharmaceuticals were worth $1,871,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP grew its holdings in ACADIA Pharmaceuticals by 431.1% during the 2nd quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock valued at $45,083,000 after buying an additional 2,251,940 shares in the last quarter. Millennium Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 36.2% during the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock valued at $47,738,000 after acquiring an additional 781,070 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of ACADIA Pharmaceuticals in the second quarter valued at $10,550,000. Fred Alger Management LLC increased its position in ACADIA Pharmaceuticals by 19.8% in the second quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock worth $43,947,000 after purchasing an additional 446,875 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in ACADIA Pharmaceuticals by 419.8% during the third quarter. SG Americas Securities LLC now owns 517,124 shares of the biopharmaceutical company’s stock valued at $7,953,000 after purchasing an additional 417,648 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the sale, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the transaction, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,014 shares of company stock valued at $779,494. Corporate insiders own 28.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley cut shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $28.00 to $20.00 in a research note on Wednesday, August 7th. Needham & Company LLC dropped their price target on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. Royal Bank of Canada lowered their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Citigroup cut their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Trading Up 0.2 %

NASDAQ:ACAD opened at $14.77 on Thursday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -1,477.00, a price-to-earnings-growth ratio of 0.49 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $32.59. The stock has a fifty day simple moving average of $15.52 and a 200-day simple moving average of $16.04.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $241.96 million during the quarter, compared to analyst estimates of $235.95 million. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The firm’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. As a group, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current fiscal year.

ACADIA Pharmaceuticals Company 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.