Los Angeles Capital Management LLC Has $828,000 Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Los Angeles Capital Management LLC cut its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 24.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,969 shares of the biopharmaceutical company’s stock after selling 16,505 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $828,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ACAD. Natixis Advisors L.P. lifted its stake in ACADIA Pharmaceuticals by 17.6% in the fourth quarter. Natixis Advisors L.P. now owns 40,875 shares of the biopharmaceutical company’s stock valued at $1,279,000 after buying an additional 6,112 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in ACADIA Pharmaceuticals by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,127,907 shares of the biopharmaceutical company’s stock valued at $35,315,000 after buying an additional 54,814 shares during the period. Principal Financial Group Inc. lifted its stake in ACADIA Pharmaceuticals by 23.1% in the fourth quarter. Principal Financial Group Inc. now owns 96,214 shares of the biopharmaceutical company’s stock valued at $3,012,000 after buying an additional 18,074 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $1,896,000. Finally, EFG Asset Management North America Corp. lifted its stake in ACADIA Pharmaceuticals by 17.8% in the fourth quarter. EFG Asset Management North America Corp. now owns 46,979 shares of the biopharmaceutical company’s stock valued at $1,471,000 after buying an additional 7,098 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $15.95 on Friday. The company has a market capitalization of $2.64 billion, a PE ratio of -1,595.00, a price-to-earnings-growth ratio of 0.54 and a beta of 0.40. The business has a fifty day moving average price of $16.90 and a two-hundred day moving average price of $17.22. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.55 and a 1 year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $241.96 million during the quarter, compared to the consensus estimate of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The business’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. Sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 8th. StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Citigroup lowered their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets assumed coverage on ACADIA Pharmaceuticals in a research report on Thursday, June 27th. They set an “outperform” rating and a $31.00 target price on the stock. Finally, Cantor Fitzgerald lowered their target price on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $25.56.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares in the company, valued at approximately $2,850,560.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares in the company, valued at approximately $2,850,560.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the 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 transaction, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The disclosure for this sale can be found here. Insiders sold 51,014 shares of company stock worth $779,494 in the last quarter. 28.30% of the stock is currently owned by company insiders.

About ACADIA Pharmaceuticals

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.