Great Lakes Advisors LLC Sells 333,245 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Great Lakes Advisors LLC lessened its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 42.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 454,790 shares of the biopharmaceutical company’s stock after selling 333,245 shares during the quarter. Great Lakes Advisors LLC owned 0.27% of ACADIA Pharmaceuticals worth $9,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACAD. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth about $511,000. Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $31,679,000. TFG Asset Management GP Ltd increased its stake in ACADIA Pharmaceuticals by 50.8% during the 2nd quarter. TFG Asset Management GP Ltd now owns 161,396 shares of the biopharmaceutical company’s stock worth $3,481,000 after purchasing an additional 54,396 shares in the last quarter. First Trust Advisors LP raised its holdings in ACADIA Pharmaceuticals by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock worth $52,509,000 after buying an additional 65,914 shares during the period. Finally, SG Americas Securities LLC raised its holdings in ACADIA Pharmaceuticals by 613.4% during the 3rd quarter. SG Americas Securities LLC now owns 39,680 shares of the biopharmaceutical company’s stock worth $847,000 after buying an additional 34,118 shares during the period. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Trading Up 0.3%

ACADIA Pharmaceuticals stock opened at $25.70 on Friday. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $28.35. The company has a fifty day simple moving average of $26.45 and a 200 day simple moving average of $24.37. The company has a market cap of $4.35 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 6.27 and a beta of 0.68.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.14 by $0.28. The firm had revenue of $278.63 million for the quarter, compared to analysts’ expectations of $276.52 million. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. On average, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other news, Director James M. Daly sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $22.37, for a total transaction of $671,100.00. Following the sale, the director owned 4,041 shares in the company, valued at $90,397.17. This represents a 88.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider James Kihara sold 4,084 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $96,749.96. Following the completion of the sale, the insider directly owned 25,058 shares of the company’s stock, valued at approximately $593,624.02. The trade was a 14.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 44,346 shares of company stock valued at $1,010,957. Insiders own 26.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACAD. Weiss Ratings reiterated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a report on Monday, December 29th. Piper Sandler set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Wall Street Zen raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th. JPMorgan Chase & Co. lowered their target price on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Finally, Citigroup boosted their price target on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $31.16.

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.