Wellington Management Group LLP Sells 2,189 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Wellington Management Group LLP decreased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,585 shares of the biopharmaceutical company’s stock after selling 2,189 shares during the quarter. Wellington Management Group LLP’s holdings in ACADIA Pharmaceuticals were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ACAD. Park Place Capital Corp purchased a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth about $25,000. Values First Advisors Inc. bought a new position in ACADIA Pharmaceuticals in the third quarter worth about $27,000. Quest Partners LLC lifted its holdings in ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 1,047 shares during the period. Stonepine Capital Management LLC bought a new stake in ACADIA Pharmaceuticals during the 2nd quarter valued at approximately $81,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of ACADIA Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 1,066 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 10,259 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the sale, the chief financial officer now directly owns 53,302 shares in the company, valued at approximately $896,006.62. The trade was a 16.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the transaction, the insider now owns 19,863 shares in the company, valued at approximately $333,897.03. This trade represents a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,661 shares of company stock worth $414,551 over the last quarter. Company insiders own 28.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ACAD has been the subject of a number of research analyst reports. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $25.60.

ACADIA Pharmaceuticals Price Performance

ACAD stock opened at $16.73 on Friday. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.15 and a 1-year high of $32.59. The stock has a market capitalization of $2.78 billion, a P/E ratio of 21.45 and a beta of 0.40. The business has a fifty day moving average price of $16.16 and a 200-day moving average price of $16.21.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.40) EPS. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share 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.