Profund Advisors LLC Decreases Position in ACADIA Pharmaceuticals Inc. $ACAD

Profund Advisors LLC trimmed its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 31.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 30,952 shares of the biopharmaceutical company’s stock after selling 14,308 shares during the period. Profund Advisors LLC’s holdings in ACADIA Pharmaceuticals were worth $668,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Comerica Bank boosted its stake in ACADIA Pharmaceuticals by 4,770.1% in the 1st quarter. Comerica Bank now owns 43,100 shares of the biopharmaceutical company’s stock worth $716,000 after purchasing an additional 42,215 shares in the last quarter. Rhumbline Advisers grew its position in ACADIA Pharmaceuticals by 100.9% during the 1st quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company’s stock worth $5,859,000 after purchasing an additional 177,188 shares during the period. Atria Investments Inc raised its position in ACADIA Pharmaceuticals by 26.1% during the second quarter. Atria Investments Inc now owns 22,087 shares of the biopharmaceutical company’s stock valued at $476,000 after acquiring an additional 4,574 shares in the last quarter. Woodline Partners LP increased its holdings in shares of ACADIA Pharmaceuticals by 1,003.0% during the 1st quarter. Woodline Partners LP now owns 295,210 shares of the biopharmaceutical company’s stock valued at $4,903,000 after purchasing an additional 268,445 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of ACADIA Pharmaceuticals in the second quarter worth about $511,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 1,600 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total transaction of $41,568.00. Following the completion of the transaction, the director directly owned 25,382 shares of the company’s stock, valued at approximately $659,424.36. The trade was a 5.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark C. Schneyer sold 22,000 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $25.18, for a total transaction of $553,960.00. Following the completion of the sale, the executive vice president directly owned 40,130 shares in the company, valued at approximately $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 57,098 shares of company stock valued at $1,349,356. 28.30% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $24.13 on Thursday. The firm has a market capitalization of $4.08 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 7.90 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $26.65. The firm’s 50-day moving average is $22.48 and its two-hundred day moving average is $22.13.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.28. The business had revenue of $278.63 million during the quarter, compared to the consensus estimate of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. ACADIA Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Cowen restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 11th. Needham & Company LLC raised their price objective on ACADIA Pharmaceuticals from $28.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, November 6th. UBS Group upped their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft set a $29.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 25th. Finally, The Goldman Sachs Group upped their price target on shares of ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the stock a “sell” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.94.

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.