Emerald Advisers LLC Has $637,000 Stock Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Emerald Advisers LLC trimmed its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 96.5% during the first quarter, HoldingsChannel.com reports. The fund owned 28,637 shares of the biopharmaceutical company’s stock after selling 782,560 shares during the quarter. Emerald Advisers LLC’s holdings in ACADIA Pharmaceuticals were worth $637,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of ACADIA Pharmaceuticals by 25.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 658,813 shares of the biopharmaceutical company’s stock valued at $17,320,000 after purchasing an additional 133,393 shares during the last quarter. Norges Bank bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth $40,266,000. Geode Capital Management LLC boosted its stake in ACADIA Pharmaceuticals by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after buying an additional 106,807 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in ACADIA Pharmaceuticals by 30.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 621,049 shares of the biopharmaceutical company’s stock valued at $16,588,000 after buying an additional 144,732 shares in the last quarter. Finally, UBS Group AG grew its position in ACADIA Pharmaceuticals by 15.7% in the fourth quarter. UBS Group AG now owns 769,392 shares of the biopharmaceutical company’s stock valued at $20,550,000 after acquiring an additional 104,546 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. HC Wainwright downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Weiss Ratings lowered shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Bank of America upped their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Finally, Citigroup boosted their target price on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.94.

Insider Activity at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 5,401 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the sale, the insider owned 24,509 shares of the company’s stock, valued at $519,100.62. The trade was a 18.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 3,506 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the sale, the executive vice president directly owned 66,145 shares in the company, valued at approximately $1,441,299.55. This represents a 5.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 10,239 shares of company stock valued at $219,813. Corporate insiders own 26.20% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 0.0%

NASDAQ:ACAD opened at $25.49 on Wednesday. The stock has a market cap of $4.36 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 18.37 and a beta of 0.80. The stock’s 50-day moving average is $22.70 and its 200-day moving average is $23.33. ACADIA Pharmaceuticals Inc. has a 1-year low of $19.69 and a 1-year high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The business had revenue of $268.10 million during the quarter, compared to the consensus estimate of $280.25 million. During the same quarter last year, the business earned $0.11 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.37 EPS for the current year.

ACADIA Pharmaceuticals Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.