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

Hennion & Walsh Asset Management Inc. trimmed its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 21.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,846 shares of the biopharmaceutical company’s stock after selling 27,885 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $2,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 113.0% in the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 756 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in ACADIA Pharmaceuticals by 107.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 885 shares in the last quarter. USA Financial Formulas acquired a new stake in ACADIA Pharmaceuticals in the third quarter worth approximately $41,000. GAMMA Investing LLC lifted its position in ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 690 shares during the period. Finally, iSAM Funds UK Ltd bought a new position in ACADIA Pharmaceuticals during the 3rd quarter valued at $93,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Jennifer J. Rhodes sold 6,950 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $23.38, for a total value of $162,491.00. Following the transaction, the executive vice president owned 7,609 shares of the company’s stock, valued at approximately $177,898.42. This trade represents a 47.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 28.30% of the company’s stock.

Analyst Upgrades and Downgrades

ACAD has been the topic of several research analyst reports. Mizuho upgraded ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $29.00 to $35.00 in a research report on Monday, February 23rd. Piper Sandler set a $37.00 target price on ACADIA Pharmaceuticals in a research note on Tuesday, December 16th. HC Wainwright reaffirmed a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 3rd. TD Cowen boosted their price target on shares of ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.21.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $22.26 on Wednesday. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $28.35. The business’s fifty day moving average is $23.21 and its two-hundred day moving average is $23.88. The stock has a market capitalization of $3.80 billion, a P/E ratio of 9.72, a P/E/G ratio of 20.95 and a beta of 0.66.

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

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.