ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 22.8% during the 1st quarter, HoldingsChannel reports. The fund owned 3,999,550 shares of the biopharmaceutical company’s stock after selling 1,178,959 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in ACADIA Pharmaceuticals were worth $73,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC increased its holdings in ACADIA Pharmaceuticals by 208.6% during the 1st quarter. Lazard Asset Management LLC now owns 26,213 shares of the biopharmaceutical company’s stock worth $483,000 after purchasing an additional 17,719 shares during the last quarter. Nan Fung Group Holdings Ltd grew its position in shares of ACADIA Pharmaceuticals by 243.5% during the first quarter. Nan Fung Group Holdings Ltd now owns 102,984 shares of the biopharmaceutical company’s stock worth $1,904,000 after buying an additional 73,000 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of ACADIA Pharmaceuticals by 73.1% in the first quarter. Advisors Asset Management Inc. now owns 14,256 shares of the biopharmaceutical company’s stock worth $264,000 after buying an additional 6,019 shares during the last quarter. CM Management LLC raised its holdings in ACADIA Pharmaceuticals by 33.3% in the first quarter. CM Management LLC now owns 40,000 shares of the biopharmaceutical company’s stock valued at $740,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Shell Asset Management Co. raised its holdings in ACADIA Pharmaceuticals by 65.7% in the first quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock valued at $136,000 after acquiring an additional 2,909 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ACAD shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th. Oppenheimer reissued a “market perform” rating and issued a $19.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, May 6th. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. Mizuho decreased their target price on ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.59.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 11,427 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $193,573.38. Following the sale, the chief executive officer now directly owns 155,231 shares in the company, valued at approximately $2,629,613.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 11,427 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $193,573.38. Following the completion of the sale, the chief executive officer now directly owns 155,231 shares in the company, valued at $2,629,613.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark C. Schneyer sold 3,503 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the transaction, the chief financial officer now directly owns 32,053 shares of the company’s stock, valued at $542,977.82. The disclosure for this sale can be found here. Insiders sold 20,708 shares of company stock valued at $348,697 over the last 90 days. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $18.75 on Tuesday. The company has a 50-day moving average price of $16.20 and a two-hundred day moving average price of $19.42. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.55 and a 52 week high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The business had revenue of $205.83 million during the quarter, compared to analyst estimates of $208.31 million. During the same period in the prior year, the company posted ($0.27) EPS. The business’s revenue for the quarter was up 73.8% compared to the same quarter last year. Equities 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.