The Manufacturers Life Insurance Company Has $7.51 Million Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

The Manufacturers Life Insurance Company lessened its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 60.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 462,078 shares of the biopharmaceutical company's stock after selling 709,546 shares during the quarter. The Manufacturers Life Insurance Company owned 0.28% of ACADIA Pharmaceuticals worth $7,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fisher Asset Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $4,479,000. Perceptive Advisors LLC bought a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $3,162,000. M&G Plc bought a new position in ACADIA Pharmaceuticals in the first quarter valued at $5,622,000. Capital Fund Management S.A. increased its stake in ACADIA Pharmaceuticals by 38.8% in the 4th quarter. Capital Fund Management S.A. now owns 243,812 shares of the biopharmaceutical company's stock valued at $7,634,000 after buying an additional 68,120 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its position in ACADIA Pharmaceuticals by 15.9% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 730,917 shares of the biopharmaceutical company's stock worth $22,885,000 after buying an additional 100,020 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ACAD. UBS Group decreased their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, August 8th. HC Wainwright restated a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. Citigroup dropped their price objective on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada decreased their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Finally, Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.56.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares of the company's stock, valued at $797,264.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 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 $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at $797,264.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen Davis sold 31,747 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 186,555 shares of the company's stock, valued at $2,850,560.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,014 shares of company stock valued at $779,494 over the last 90 days. 28.30% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Trading Up 2.6 %

NASDAQ:ACAD opened at $15.10 on Friday. The stock has a 50 day simple moving average of $16.23 and a 200 day simple moving average of $16.47. The stock has a market cap of $2.49 billion, a P/E ratio of -1,510.00, a PEG ratio of 0.55 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.55 and a 1-year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company had revenue of $241.96 million during the quarter, compared to the consensus estimate of $235.95 million. During the same quarter last year, the firm earned $0.01 earnings per share. The company's revenue was up 46.4% on a year-over-year basis. As a group, sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current year.

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.