UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 27,856 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,739 shares of the biopharmaceutical company’s stock after selling 27,856 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.11% of ACADIA Pharmaceuticals worth $2,918,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Place Capital Corp bought a new stake in ACADIA Pharmaceuticals during the third quarter worth $25,000. Values First Advisors Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $27,000. Quest Partners LLC grew its stake in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 1,047 shares during the period. Stonepine Capital Management LLC purchased a new stake in ACADIA Pharmaceuticals in the 2nd quarter worth about $81,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 1,066 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $17.26 on Friday. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 22.13 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $32.59. The stock has a fifty day simple moving average of $16.00 and a two-hundred day simple moving average of $16.15.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. During the same quarter in the prior year, the business earned ($0.40) EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACAD has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.60.

Insider Activity

In other news, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at $896,006.62. The trade was a 16.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brendan Teehan sold 10,329 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $173,630.49. Following the sale, the chief operating officer now owns 62,105 shares in the company, valued at approximately $1,043,985.05. The trade was a 14.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock valued at $414,551 in the last quarter. 28.30% of the stock is currently owned by 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.