Arete Wealth Advisors LLC Lowers Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Arete Wealth Advisors LLC cut its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 24.7% during the third quarter, HoldingsChannel reports. The fund owned 11,825 shares of the biopharmaceutical company’s stock after selling 3,875 shares during the quarter. Arete Wealth Advisors LLC’s holdings in ACADIA Pharmaceuticals were worth $182,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new position in ACADIA Pharmaceuticals in the second quarter valued at about $3,300,000. AlphaCentric Advisors LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 122.2% in the 2nd quarter. AlphaCentric Advisors LLC now owns 100,000 shares of the biopharmaceutical company’s stock valued at $1,625,000 after buying an additional 55,000 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of ACADIA Pharmaceuticals by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 525,566 shares of the biopharmaceutical company’s stock worth $8,540,000 after buying an additional 22,513 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of ACADIA Pharmaceuticals by 85.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 108,838 shares of the biopharmaceutical company’s stock worth $1,769,000 after acquiring an additional 49,992 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in ACADIA Pharmaceuticals by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after acquiring an additional 778 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $17.26 on Friday. The firm’s fifty day moving average is $16.00 and its two-hundred day moving average is $16.16. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 22.13 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $32.59.

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

Insider Transactions at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,073 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the sale, the insider now directly owns 19,863 shares of the company’s stock, valued at approximately $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals 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 transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at $896,006.62. The trade was a 16.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,661 shares of company stock valued at $414,551 in the last 90 days. 28.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.