Braidwell LP Decreases Stock Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Braidwell LP lowered its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 33.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,646,399 shares of the biopharmaceutical company’s stock after selling 824,800 shares during the period. ACADIA Pharmaceuticals makes up about 1.5% of Braidwell LP’s portfolio, making the stock its 22nd largest position. Braidwell LP owned approximately 0.96% of ACADIA Pharmaceuticals worth $41,654,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in ACADIA Pharmaceuticals by 74.4% in the first quarter. Royal Bank of Canada now owns 80,528 shares of the biopharmaceutical company’s stock worth $1,338,000 after purchasing an additional 34,352 shares during the last quarter. AQR Capital Management LLC grew its stake in ACADIA Pharmaceuticals by 3.8% during the 1st quarter. AQR Capital Management LLC now owns 67,672 shares of the biopharmaceutical company’s stock worth $1,124,000 after buying an additional 2,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ACADIA Pharmaceuticals by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,952 shares of the biopharmaceutical company’s stock worth $1,498,000 after buying an additional 6,303 shares during the last quarter. Empowered Funds LLC acquired a new position in ACADIA Pharmaceuticals during the 1st quarter valued at about $186,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in ACADIA Pharmaceuticals by 14.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company’s stock valued at $4,170,000 after buying an additional 31,931 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Trading Up 0.1%

ACAD opened at $28.93 on Thursday. ACADIA Pharmaceuticals Inc. has a 12-month low of $19.69 and a 12-month high of $30.96. The firm has a market capitalization of $4.98 billion, a PE ratio of 13.03, a P/E/G ratio of 21.54 and a beta of 0.86. The firm has a 50 day moving average of $27.16 and a two-hundred day moving average of $23.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.07 by $0.11. The business had revenue of $308.00 million for the quarter, compared to the consensus estimate of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS. As a group, analysts predict that ACADIA Pharmaceuticals Inc. will post 0.63 EPS for the current fiscal year.

Insider Activity

In other ACADIA Pharmaceuticals news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the transaction, the executive vice president owned 18,994 shares in the company, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark C. Schneyer sold 14,292 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the sale, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. The trade was a 17.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,699 shares of company stock worth $1,019,894 over the last ninety days. 26.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ACAD. BMO Capital Markets raised their price target on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Needham & Company LLC lifted their target price on shares of ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Citizens Jmp boosted their target price on shares of ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Finally, Canaccord Genuity Group lifted their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.36.

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.