Voya Investment Management LLC Lowers Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Voya Investment Management LLC lowered its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 22.8% during the 4th quarter, HoldingsChannel reports. The fund owned 36,167 shares of the biopharmaceutical company’s stock after selling 10,696 shares during the period. Voya Investment Management LLC’s holdings in ACADIA Pharmaceuticals were worth $664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of ACADIA Pharmaceuticals by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock worth $255,939,000 after buying an additional 104,444 shares during the last quarter. First Trust Advisors LP boosted its holdings in ACADIA Pharmaceuticals by 27.0% in the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company’s stock worth $49,547,000 after acquiring an additional 574,251 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of ACADIA Pharmaceuticals by 380.3% in the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after acquiring an additional 1,966,607 shares during the last quarter. Norges Bank bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at $25,555,000. Finally, Renaissance Technologies LLC raised its position in shares of ACADIA Pharmaceuticals by 204.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company’s stock worth $22,507,000 after purchasing an additional 823,333 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Transactions at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the transaction, the director now owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark C. Schneyer sold 2,708 shares of the firm’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total value of $40,132.56. Following the completion of the sale, the executive vice president now owns 59,456 shares of the company’s stock, valued at approximately $881,137.92. This represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,994 shares of company stock valued at $313,131 in the last ninety days. Corporate insiders own 26.50% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $16.96 on Friday. The firm has a market cap of $2.84 billion, a P/E ratio of 21.74 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $20.68. The company has a 50 day simple moving average of $15.84 and a two-hundred day simple moving average of $16.92.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $244.32 million for the quarter, compared to analysts’ expectations of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. On average, sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ACAD. UBS Group cut their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.21.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.