ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock Position Decreased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lowered its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 43.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,544 shares of the biopharmaceutical company’s stock after selling 39,245 shares during the period. Y Intercept Hong Kong Ltd’s holdings in ACADIA Pharmaceuticals were worth $777,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC increased its stake in shares of ACADIA Pharmaceuticals by 17.1% in the second quarter. SG Americas Securities LLC now owns 99,476 shares of the biopharmaceutical company’s stock valued at $1,616,000 after purchasing an additional 14,520 shares during the period. Neo Ivy Capital Management acquired a new position in ACADIA Pharmaceuticals during the 2nd quarter worth $3,300,000. AlphaCentric Advisors LLC grew its stake in shares of ACADIA Pharmaceuticals by 122.2% in the second quarter. AlphaCentric Advisors LLC now owns 100,000 shares of the biopharmaceutical company’s stock worth $1,625,000 after purchasing an additional 55,000 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of ACADIA Pharmaceuticals by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 525,566 shares of the biopharmaceutical company’s stock valued at $8,540,000 after purchasing an additional 22,513 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of ACADIA Pharmaceuticals by 85.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 108,838 shares of the biopharmaceutical company’s stock valued at $1,769,000 after purchasing an additional 49,992 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

ACAD has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.60.

Insiders Place Their Bets

In related news, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the sale, the chief financial officer now owns 53,302 shares of the company’s stock, valued at approximately $896,006.62. This trade represents a 16.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 4,073 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the transaction, the insider now directly owns 19,863 shares in the company, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,661 shares of company stock worth $414,551. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD opened at $17.26 on Friday. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $32.59. The company has a market cap of $2.87 billion, a PE ratio of 22.13 and a beta of 0.40. The firm has a 50 day simple moving average of $16.00 and a 200 day simple moving average of $16.15.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. During the same quarter in the prior year, the company earned ($0.40) earnings per share. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current year.

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.