TD Asset Management Inc. cut its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 47.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,761 shares of the biopharmaceutical company’s stock after selling 29,500 shares during the quarter. TD Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $1,234,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Utah Retirement Systems raised its stake in shares of ACADIA Pharmaceuticals by 1.1% during the 2nd quarter. Utah Retirement Systems now owns 17,600 shares of the biopharmaceutical company’s stock worth $491,000 after buying an additional 200 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of ACADIA Pharmaceuticals by 10.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 468 shares during the period. Principal Financial Group Inc. raised its stake in shares of ACADIA Pharmaceuticals by 3.6% during the 2nd quarter. Principal Financial Group Inc. now owns 16,810 shares of the biopharmaceutical company’s stock worth $469,000 after buying an additional 579 shares during the period. Tocqueville Asset Management L.P. raised its stake in shares of ACADIA Pharmaceuticals by 0.6% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 100,560 shares of the biopharmaceutical company’s stock worth $2,805,000 after buying an additional 610 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of ACADIA Pharmaceuticals by 5.8% during the 2nd quarter. HighTower Advisors LLC now owns 11,821 shares of the biopharmaceutical company’s stock worth $330,000 after buying an additional 650 shares during the period. 94.03% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Inc. (ACAD) opened at $29.18 on Wednesday. ACADIA Pharmaceuticals Inc. has a 52 week low of $24.31 and a 52 week high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative return on equity of 67.68% and a negative net margin of 320.71%. The firm had revenue of $35.58 million during the quarter, compared to the consensus estimate of $32.03 million. During the same period in the prior year, the company earned ($0.61) EPS. The firm’s revenue was up 571.3% compared to the same quarter last year. research analysts expect that ACADIA Pharmaceuticals Inc. will post -2.41 EPS for the current fiscal year.

Several research analysts have recently weighed in on the company. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $50.00 target price (up from $48.00) on shares of ACADIA Pharmaceuticals in a research note on Monday, October 2nd. Goldman Sachs Group reaffirmed a “neutral” rating and set a $45.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, October 6th. Needham & Company LLC reissued a “buy” rating and issued a $49.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Sunday, September 17th. Bank of America increased their price objective on ACADIA Pharmaceuticals from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Thursday, October 5th. Finally, Cowen reissued a “buy” rating and issued a $46.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. ACADIA Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $47.44.

In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 37,500 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $40.91, for a total value of $1,534,125.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.25% of the stock is owned by corporate insiders.

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About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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