ProShare Advisors LLC Reduces Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

ProShare Advisors LLC reduced its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 20.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,626 shares of the biopharmaceutical company’s stock after selling 6,957 shares during the quarter. ProShare Advisors LLC’s holdings in ACADIA Pharmaceuticals were worth $433,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Covestor Ltd raised its stake in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at approximately $48,000. Acadian Asset Management LLC purchased a new position in shares of ACADIA Pharmaceuticals during the second quarter valued at approximately $111,000. Shell Asset Management Co. boosted its position in ACADIA Pharmaceuticals by 65.7% during the first quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock worth $136,000 after acquiring an additional 2,909 shares during the last quarter. Finally, Old Well Partners LLC purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter worth approximately $257,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ACAD. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, August 8th. Needham & Company LLC dropped their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. UBS Group decreased their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $28.00 to $20.00 in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Five research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $15.30 on Wednesday. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.55 and a 12 month high of $32.59. The stock has a market cap of $2.53 billion, a PE ratio of -1,530.00, a P/E/G ratio of 0.55 and a beta of 0.40. The stock’s 50-day moving average is $16.52 and its two-hundred day moving average is $16.54.

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

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 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 value of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Brendan Teehan sold 9,534 shares of the company’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 directly owns 52,177 shares of the company’s stock, valued at $797,264.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen Davis sold 31,747 shares of the stock in a transaction 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 owns 186,555 shares in the company, valued at $2,850,560.40. The disclosure for this sale can be found here. Insiders have sold 51,014 shares of company stock valued at $779,494 in the last quarter. Company insiders own 28.30% of the company’s stock.

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.