Deutsche Bank AG Sells 535,008 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Deutsche Bank AG trimmed its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 33.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,042,447 shares of the biopharmaceutical company’s stock after selling 535,008 shares during the period. Deutsche Bank AG’s holdings in ACADIA Pharmaceuticals were worth $19,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ACAD. Vanguard Group Inc. increased its stake in ACADIA Pharmaceuticals by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock valued at $255,939,000 after purchasing an additional 104,444 shares in the last quarter. First Trust Advisors LP boosted its position in shares of ACADIA Pharmaceuticals by 27.0% during the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company’s stock worth $49,547,000 after purchasing an additional 574,251 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock valued at $45,576,000 after buying an additional 1,966,607 shares during the period. Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $25,555,000. Finally, Northern Trust Corp increased its position in shares of ACADIA Pharmaceuticals by 9.4% in the 4th quarter. Northern Trust Corp now owns 1,232,366 shares of the biopharmaceutical company’s stock valued at $22,614,000 after buying an additional 106,236 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 0.2%

Shares of ACAD opened at $17.16 on Thursday. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 22.00 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $20.68. The firm has a fifty day simple moving average of $15.80 and a 200 day simple moving average of $17.00.

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

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,498 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $14.60, for a total value of $51,070.80. Following the completion of the transaction, the executive vice president now directly owns 62,773 shares in the company, valued at $916,485.80. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the transaction, the director now directly owns 17,595 shares in the company, valued at $320,756.85. This trade represents a 21.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,994 shares of company stock worth $313,131. Corporate insiders own 26.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ACAD. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, UBS Group dropped their target price on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $24.70.

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.