Glenmede Trust Co. NA Sells 47,751 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Glenmede Trust Co. NA trimmed its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 405,892 shares of the biopharmaceutical company’s stock after selling 47,751 shares during the quarter. Glenmede Trust Co. NA’s holdings in ACADIA Pharmaceuticals were worth $9,035,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of ACADIA Pharmaceuticals by 74.4% during the first quarter. Royal Bank of Canada now owns 80,528 shares of the biopharmaceutical company’s stock valued at $1,338,000 after purchasing an additional 34,352 shares in the last quarter. AQR Capital Management LLC raised its holdings in ACADIA Pharmaceuticals by 3.8% in the first quarter. AQR Capital Management LLC now owns 67,672 shares of the biopharmaceutical company’s stock worth $1,124,000 after purchasing an additional 2,492 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ACADIA Pharmaceuticals by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,952 shares of the biopharmaceutical company’s stock worth $1,498,000 after purchasing an additional 6,303 shares in the last quarter. Empowered Funds LLC purchased a new position in ACADIA Pharmaceuticals during the first quarter valued at $186,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in ACADIA Pharmaceuticals by 14.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company’s stock valued at $4,170,000 after buying an additional 31,931 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, 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 completion of the sale, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 26.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. BMO Capital Markets lifted their price target on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Bank of America reissued a “buy” rating and set a $14.50 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, July 29th. HC Wainwright cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada raised their target price on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Thirteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $32.31.

ACADIA Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ ACAD opened at $25.61 on Tuesday. ACADIA Pharmaceuticals Inc. has a twelve month low of $19.69 and a twelve month high of $28.35. The firm has a market cap of $4.39 billion, a P/E ratio of 11.64, a PEG ratio of 17.94 and a beta of 0.81. The company has a 50 day moving average of $23.83 and a 200 day moving average of $23.20.

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