ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 64.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,903 shares of the biopharmaceutical company’s stock after buying an additional 12,493 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in ACADIA Pharmaceuticals were worth $491,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Park Place Capital Corp purchased a new position in ACADIA Pharmaceuticals in the third quarter worth $25,000. Values First Advisors Inc. acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth $27,000. Covestor Ltd increased its holdings in shares of ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at about $48,000. Finally, Stonepine Capital Management LLC purchased a new stake in ACADIA Pharmaceuticals during the second quarter worth about $81,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ACAD. Royal Bank of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Citigroup reduced their price objective on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Morgan Stanley downgraded ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $28.00 to $20.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald dropped their price target on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Needham & Company LLC decreased their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.56.

Insider Transactions at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the sale, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Stephen Davis sold 31,747 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 $485,094.16. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,014 shares of company stock worth $779,494 in the last three months. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Stock Up 0.2 %

Shares of ACADIA Pharmaceuticals stock opened at $14.77 on Thursday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $32.59. The business’s fifty day moving average is $15.52 and its two-hundred day moving average is $16.04. The firm has a market cap of $2.44 billion, a PE ratio of -1,477.00, a P/E/G ratio of 0.49 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The firm had revenue of $241.96 million for the quarter, compared to the consensus estimate of $235.95 million. During the same period in the prior year, the business posted $0.01 earnings per share. The firm’s revenue for the quarter was up 46.4% compared to the same quarter last year. Equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.52 EPS 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.