Phocas Financial Corp. Trims Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Phocas Financial Corp. cut its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,215 shares of the biopharmaceutical company’s stock after selling 3,782 shares during the period. Phocas Financial Corp.’s holdings in ACADIA Pharmaceuticals were worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. M&G Plc raised its stake in shares of ACADIA Pharmaceuticals by 12.4% during the 2nd quarter. M&G Plc now owns 351,115 shares of the biopharmaceutical company’s stock valued at $5,618,000 after buying an additional 38,790 shares during the last quarter. Fred Alger Management LLC raised its position in ACADIA Pharmaceuticals by 19.8% during the second quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock valued at $43,947,000 after acquiring an additional 446,875 shares in the last quarter. US Bancorp DE lifted its holdings in ACADIA Pharmaceuticals by 2,084.0% in the third quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock valued at $507,000 after acquiring an additional 31,426 shares during the period. Sei Investments Co. boosted its position in ACADIA Pharmaceuticals by 6.2% in the 1st quarter. Sei Investments Co. now owns 34,752 shares of the biopharmaceutical company’s stock worth $642,000 after purchasing an additional 2,034 shares in the last quarter. Finally, Hohimer Wealth Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 828.8% during the 2nd quarter. Hohimer Wealth Management LLC now owns 159,133 shares of the biopharmaceutical company’s stock worth $2,586,000 after purchasing an additional 142,000 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 10,259 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the transaction, the chief financial officer now owns 53,302 shares of the company’s stock, valued at $896,006.62. This trade represents a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brendan Teehan sold 10,329 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $173,630.49. Following the completion of the sale, the chief operating officer now directly owns 62,105 shares in the company, valued at $1,043,985.05. This trade represents a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,661 shares of company stock worth $414,551. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 4.8 %

NASDAQ ACAD opened at $16.21 on Wednesday. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $32.59. The business’s fifty day simple moving average is $15.60 and its 200-day simple moving average is $15.99. The firm has a market cap of $2.70 billion, a PE ratio of 20.78 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. ACADIA Pharmaceuticals’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.40) EPS. Research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.72 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on ACAD. Cantor Fitzgerald cut their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Royal Bank of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

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.