Quest Partners LLC Has $40,000 Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Quest Partners LLC lessened its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 73.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,473 shares of the biopharmaceutical company’s stock after selling 6,745 shares during the period. Quest Partners LLC’s holdings in ACADIA Pharmaceuticals were worth $40,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fisher Asset Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $4,479,000. Perceptive Advisors LLC acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $3,162,000. UBS Group AG boosted its holdings in 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 acquiring an additional 162,663 shares in the last quarter. M&G Plc acquired a new stake in ACADIA Pharmaceuticals in the first quarter valued at approximately $5,622,000. Finally, Capital Fund Management S.A. increased its holdings in shares of ACADIA Pharmaceuticals by 38.8% during the fourth 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 in the last quarter. 96.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BMO Capital Markets initiated coverage on ACADIA Pharmaceuticals in a report on Thursday, June 27th. They issued an “outperform” rating and a $31.00 target price on the stock. Citigroup reduced their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. Finally, 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. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.56.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the firm’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 of the company’s stock, valued at $2,850,560.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 9,733 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $148,720.24. Following the sale, the chief financial officer now directly owns 43,735 shares of the company’s stock, valued at $668,270.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals 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 completion of the transaction, the chief executive officer now owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,014 shares of company stock valued at $779,494. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $16.33 on Thursday. The business’s fifty day moving average is $16.88 and its 200-day moving average is $16.94. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -1,633.00, a PEG ratio of 0.53 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a one year low of $14.55 and a one year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The business had revenue of $241.96 million for the quarter, compared to analyst estimates of $235.95 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The company’s revenue for the quarter was up 46.4% on a year-over-year basis. Research analysts expect 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.