AlphaCentric Advisors LLC Has $615,000 Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

AlphaCentric Advisors LLC lessened its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 60.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,000 shares of the biopharmaceutical company's stock after selling 60,000 shares during the quarter. AlphaCentric Advisors LLC's holdings in ACADIA Pharmaceuticals were worth $615,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Place Capital Corp purchased a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at $25,000. Values First Advisors Inc. purchased a new stake in ACADIA Pharmaceuticals in the 3rd quarter worth about $27,000. Covestor Ltd boosted its position in ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 840 shares during the period. Headlands Technologies LLC purchased a new position in ACADIA Pharmaceuticals during the 1st quarter valued at about $48,000. Finally, Stonepine Capital Management LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $81,000. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD traded up $0.40 during trading hours on Tuesday, reaching $15.02. 1,582,084 shares of the company traded hands, compared to its average volume of 1,680,265. The stock's fifty day moving average is $15.42 and its 200 day moving average is $15.98. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.15 and a 1-year high of $32.59. The stock has a market cap of $2.49 billion, a P/E ratio of 81.33 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $241.96 million during the quarter, compared to analysts' expectations of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company's revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 EPS. On average, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ACAD. Needham & Company LLC decreased their price target on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Cantor Fitzgerald decreased their target price on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an "overweight" rating for the company in a research note on Wednesday, August 7th. Citigroup dropped their price target on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Morgan Stanley cut ACADIA Pharmaceuticals from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. Finally, StockNews.com raised ACADIA Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $25.56.

Insiders Place Their Bets

In other news, CEO Stephen Davis sold 31,747 shares of the firm's stock in a transaction dated 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 directly owns 186,555 shares of the company's stock, valued at approximately $2,850,560.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Stephen Davis sold 31,747 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The stock was 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 in the company, valued at $2,850,560.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the company's stock in a transaction 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 owns 52,177 shares in the company, valued at $797,264.56. This trade represents 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 worth $779,494 over the last 90 days. Corporate insiders own 28.30% of the company's stock.

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.