ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. cut its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 661,870 shares of the biopharmaceutical company's stock after selling 39,422 shares during the period. Panagora Asset Management Inc. owned 0.40% of ACADIA Pharmaceuticals worth $10,755,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its holdings in ACADIA Pharmaceuticals by 9.1% in the fourth quarter. First Trust Advisors LP now owns 1,777,307 shares of the biopharmaceutical company's stock valued at $55,647,000 after acquiring an additional 148,526 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in ACADIA Pharmaceuticals by 21.3% during the first quarter. Jupiter Asset Management Ltd. now owns 1,603,774 shares of the biopharmaceutical company's stock worth $29,654,000 after purchasing an additional 281,410 shares in the last quarter. Norges Bank purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $45,187,000. Charles Schwab Investment Management Inc. increased its position in shares of ACADIA Pharmaceuticals by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,127,907 shares of the biopharmaceutical company's stock worth $35,315,000 after acquiring an additional 54,814 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in shares of ACADIA Pharmaceuticals by 8.7% during the fourth quarter. Frontier Capital Management Co. LLC now owns 823,586 shares of the biopharmaceutical company's stock worth $25,786,000 after acquiring an additional 65,973 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 9,733 shares of the 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 completion of the sale, the chief financial officer now owns 43,735 shares in the company, valued at $668,270.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Mark C. Schneyer sold 9,733 shares of the 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 completion of the sale, the chief financial officer now owns 43,735 shares in the company, valued at $668,270.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,989 shares of company stock worth $793,914. Company insiders own 28.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ACAD shares. Needham & Company LLC cut their price objective on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada cut their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. Bank of America cut their price objective on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a "neutral" rating on the stock in a research report on Friday, May 10th. Cantor Fitzgerald cut their price objective on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus dropped their target price on ACADIA Pharmaceuticals from $26.00 to $21.00 and set a "hold" rating on the stock in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.56.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock traded up $0.26 during mid-day trading on Friday, hitting $16.58. 907,401 shares of the stock were exchanged, compared to its average volume of 1,792,346. The stock's fifty day simple moving average is $16.84 and its two-hundred day simple moving average is $17.78. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -1,658.00 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.55 and a 12-month high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. 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 company posted $0.01 earnings per share. The business's quarterly revenue was up 46.4% compared to the same quarter last year. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.58 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.