ACADIA Pharmaceuticals Inc. $ACAD Stock Holdings Lessened by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 2.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,172,317 shares of the biopharmaceutical company’s stock after selling 31,771 shares during the period. Charles Schwab Investment Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $31,313,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 386 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $26,000. Federated Hermes Inc. increased its holdings in shares of 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 buying an additional 1,185 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 885 shares in the last quarter. Finally, Leonteq Securities AG bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $52,000. Institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on ACAD shares. Citigroup dropped their price target on ACADIA Pharmaceuticals from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, May 8th. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 3rd. Bank of America raised ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Wednesday, March 25th. Wall Street Zen cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, JPMorgan Chase & Co. upped their price target on ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Insiders Place Their Bets

In related news, EVP Mark C. Schneyer sold 3,506 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total value of $76,395.74. Following the completion of the sale, the executive vice president directly owned 66,145 shares in the company, valued at approximately $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James Kihara sold 1,332 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $29,024.28. Following the completion of the sale, the insider owned 29,129 shares of the company’s stock, valued at $634,720.91. This represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,577 shares of company stock worth $188,426 over the last ninety days. 26.20% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Trading Down 3.1%

NASDAQ ACAD opened at $21.40 on Friday. ACADIA Pharmaceuticals Inc. has a 1-year low of $18.37 and a 1-year high of $28.35. The company has a market capitalization of $3.66 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 25.91 and a beta of 0.86. The firm’s fifty day simple moving average is $21.83 and its 200-day simple moving average is $23.90.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The company had revenue of $268.10 million during the quarter, compared to analyst estimates of $280.25 million. During the same period last year, the company posted $0.11 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, analysts predict that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current year.

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.