Balyasny Asset Management L.P. Has $7.28 Million Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Balyasny Asset Management L.P. reduced its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 64.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 396,922 shares of the biopharmaceutical company’s stock after selling 727,650 shares during the quarter. Balyasny Asset Management L.P.’s holdings in ACADIA Pharmaceuticals were worth $7,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ACAD. R Squared Ltd acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $47,000. KBC Group NV increased its stake in ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 2,044 shares in the last quarter. Globeflex Capital L P acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth $168,000. Xponance Inc. bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $186,000. Finally, Vinva Investment Management Ltd acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $187,000. Institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ACAD shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. UBS Group cut their target price on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.45.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD opened at $17.44 on Friday. The company has a market capitalization of $2.92 billion, a P/E ratio of 22.36 and a beta of 0.47. The company’s 50-day moving average is $15.83 and its 200 day moving average is $16.94. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $20.68.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $244.32 million for the quarter, compared to analysts’ expectations of $239.32 million. During the same period in the previous year, the company earned $0.10 earnings per share. The company’s quarterly revenue was up 18.7% on a year-over-year basis. As a group, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 2,708 shares of the business’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total value of $40,132.56. Following the sale, the executive vice president now directly owns 59,456 shares in the company, valued at approximately $881,137.92. The trade was a 4.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the transaction, the director now owns 17,595 shares of the company’s stock, valued at $320,756.85. This represents a 21.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,994 shares of company stock valued at $313,131. Company insiders own 26.50% of the company’s stock.

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.