Neo Ivy Capital Management Reduces Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Neo Ivy Capital Management lessened its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 98.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,482 shares of the biopharmaceutical company's stock after selling 199,566 shares during the quarter. Neo Ivy Capital Management's holdings in ACADIA Pharmaceuticals were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Fred Alger Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 19.8% in the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company's stock worth $43,947,000 after purchasing an additional 446,875 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at $483,000. US Bancorp DE raised its position in shares of ACADIA Pharmaceuticals by 2,084.0% in the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company's stock worth $507,000 after purchasing an additional 31,426 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in ACADIA Pharmaceuticals by 259.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company's stock worth $3,439,000 after purchasing an additional 161,331 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in ACADIA Pharmaceuticals by 67.8% during the 3rd quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company's stock valued at $1,992,000 after purchasing an additional 52,340 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Brendan Teehan sold 10,329 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $173,630.49. Following the sale, the chief operating officer now directly owns 62,105 shares in the company, valued at approximately $1,043,985.05. The trade was a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark C. Schneyer sold 10,259 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the transaction, the chief financial officer now directly owns 53,302 shares of the company's stock, valued at approximately $896,006.62. The trade was a 16.14 % decrease in their ownership of the stock. 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. 28.30% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD remained flat at $17.26 on Friday. 1,957,140 shares of the company's stock were exchanged, compared to its average volume of 1,672,809. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $32.59. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 22.13 and a beta of 0.40. The firm's 50 day moving average price is $16.00 and its 200-day moving average price is $16.15.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company had revenue of $250.40 million for the quarter, compared to analysts' expectations of $248.83 million. During the same quarter in the previous year, the company earned ($0.40) EPS. ACADIA Pharmaceuticals's revenue for the quarter was up 18.3% on a year-over-year basis. As a group, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ACAD shares. StockNews.com cut shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. HC Wainwright reiterated a "buy" rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Needham & Company LLC reissued a "buy" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, Raymond James restated a "market perform" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.60.

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.