Janus Henderson Group PLC Decreases Stake in ACADIA Pharmaceuticals Inc. $ACAD

Janus Henderson Group PLC cut its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 82.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,410 shares of the biopharmaceutical company’s stock after selling 238,701 shares during the quarter. Janus Henderson Group PLC’s holdings in ACADIA Pharmaceuticals were worth $1,145,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State Street Corp grew its position in ACADIA Pharmaceuticals by 9.0% during the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock worth $211,296,000 after buying an additional 655,257 shares during the period. First Trust Advisors LP lifted its position in shares of ACADIA Pharmaceuticals by 47.3% during the 1st quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock valued at $74,435,000 after acquiring an additional 1,073,834 shares during the period. Geode Capital Management LLC lifted its position in shares of ACADIA Pharmaceuticals by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after acquiring an additional 106,807 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of ACADIA Pharmaceuticals by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company’s stock worth $70,222,000 after acquiring an additional 234,186 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of ACADIA Pharmaceuticals by 19.8% during the 3rd quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock worth $50,339,000 after acquiring an additional 389,170 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Activity

In other news, EVP Mark C. Schneyer sold 14,292 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the completion of the sale, the executive vice president directly owned 67,828 shares in the company, valued at $1,981,934.16. This trade represents a 17.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Kihara sold 5,401 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the sale, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. The trade was a 18.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 42,100 shares of company stock worth $1,134,287. 26.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ACAD has been the subject of several research analyst reports. Royal Bank Of Canada raised their price objective on ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Stifel Nicolaus boosted their target price on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Oppenheimer upped their target price on ACADIA Pharmaceuticals from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Wednesday, August 5th. Citigroup raised their price target on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday. Finally, Citizens Jmp lifted their price target on ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $33.31.

ACADIA Pharmaceuticals Stock Up 0.6%

ACAD stock opened at $29.39 on Tuesday. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 23.76 and a beta of 0.81. The business has a fifty day simple moving average of $24.55 and a 200-day simple moving average of $23.28. ACADIA Pharmaceuticals Inc. has a 52 week low of $19.69 and a 52 week high of $29.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results 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 firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. ACADIA Pharmaceuticals’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. As a group, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.57 earnings per share for the current fiscal 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.