Braidwell LP Cuts Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Braidwell LP lowered its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 33.4% in the second quarter, HoldingsChannel reports. The fund owned 1,646,399 shares of the biopharmaceutical company’s stock after selling 824,800 shares during the quarter. ACADIA Pharmaceuticals accounts for about 1.5% of Braidwell LP’s portfolio, making the stock its 22nd largest position. Braidwell LP’s holdings in ACADIA Pharmaceuticals were worth $41,654,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC increased its stake in shares of ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 386 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC boosted its position in ACADIA Pharmaceuticals by 304.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 1,005 shares in the last quarter. Nykredit A S acquired a new stake in ACADIA Pharmaceuticals in the second quarter valued at approximately $38,000. Finally, Federated Hermes Inc. grew its holdings in ACADIA Pharmaceuticals by 277.5% in the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,185 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley upped their target price on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 25th. UBS Group boosted their price target on shares of ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Canaccord Genuity Group upped their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Needham & Company LLC increased their price objective on shares of ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Citizens Jmp lifted their target price on shares of ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.36.

ACADIA Pharmaceuticals Price Performance

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

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

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president owned 67,828 shares of the company’s stock, valued at $1,981,934.16. The trade was a 17.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the sale, the executive vice president directly owned 18,994 shares of the company’s stock, valued at $496,313.22. The trade was a 46.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,699 shares of company stock worth $1,019,894 in the last 90 days. 26.20% of the stock is currently owned by insiders.

About ACADIA Pharmaceuticals

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.