Y Intercept Hong Kong Ltd Sells 39,245 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Y Intercept Hong Kong Ltd lowered its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 43.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,544 shares of the biopharmaceutical company's stock after selling 39,245 shares during the period. Y Intercept Hong Kong Ltd's holdings in ACADIA Pharmaceuticals were worth $777,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ACAD. Marshall Wace LLP lifted its position in ACADIA Pharmaceuticals by 431.1% in the 2nd quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company's stock worth $45,083,000 after buying an additional 2,251,940 shares in the last quarter. Millennium Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 36.2% in the second quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company's stock worth $47,738,000 after acquiring an additional 781,070 shares during the last quarter. Iron Triangle Partners LP purchased a new stake in shares of ACADIA Pharmaceuticals during the third quarter worth $11,535,000. Dimensional Fund Advisors LP acquired a new stake in ACADIA Pharmaceuticals during the second quarter valued at $10,550,000. Finally, Eventide Asset Management LLC purchased a new position in ACADIA Pharmaceuticals in the third quarter valued at about $8,882,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Raymond James reissued a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Finally, StockNews.com downgraded shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.60.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,073 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the sale, the insider now owns 19,863 shares of the company's stock, valued at $333,897.03. The trade was a 17.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark C. Schneyer sold 10,259 shares of the stock in a transaction on 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 approximately $896,006.62. This represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,661 shares of company stock worth $414,551. Company insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock remained flat at $17.26 during trading hours on Friday. The stock had a trading volume of 2,023,636 shares, compared to its average volume of 1,672,809. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $32.59. The company has a market capitalization of $2.87 billion, a PE ratio of 22.13 and a beta of 0.40. The business's fifty day simple moving average is $16.00 and its two-hundred day simple moving average is $16.16.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 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 firm had revenue of $250.40 million during the quarter, compared to analysts' expectations of $248.83 million. During the same period in the prior year, the company earned ($0.40) EPS. The business's quarterly revenue was up 18.3% compared to the same quarter last year. Equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share 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.