ACADIA Pharmaceuticals Inc. $ACAD Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. decreased its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 21.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,846 shares of the biopharmaceutical company’s stock after selling 27,885 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.06% of ACADIA Pharmaceuticals worth $2,774,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of ACADIA Pharmaceuticals by 16.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,798,134 shares of the biopharmaceutical company’s stock worth $59,712,000 after buying an additional 402,534 shares during the last quarter. First Trust Advisors LP grew its position in shares of ACADIA Pharmaceuticals by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock valued at $52,509,000 after buying an additional 65,914 shares during the last quarter. Braidwell LP bought a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at about $50,760,000. Marshall Wace LLP raised its stake in ACADIA Pharmaceuticals by 19.8% during the third quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock worth $50,339,000 after acquiring an additional 389,170 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in ACADIA Pharmaceuticals by 390.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after acquiring an additional 1,312,426 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, December 29th. Wolfe Research began coverage on ACADIA Pharmaceuticals in a research report on Monday, February 23rd. They set an “outperform” rating and a $33.00 price target on the stock. Citizens Jmp raised their price target on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Thursday, February 26th. JPMorgan Chase & Co. raised their target price on ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Finally, Wall Street Zen downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $31.21.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $22.26 on Wednesday. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $28.35. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 20.95 and a beta of 0.66. The business has a 50 day simple moving average of $23.21 and a 200 day simple moving average of $23.88.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $0.12 by $1.48. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The firm had revenue of $298.00 million for the quarter, compared to the consensus estimate of $292.54 million. During the same quarter in the previous year, the business earned $0.86 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Jennifer J. Rhodes sold 6,950 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $23.38, for a total transaction of $162,491.00. Following the transaction, the executive vice president directly owned 7,609 shares of the company’s stock, valued at approximately $177,898.42. This trade represents a 47.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 28.30% of the company’s stock.

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.