Massachusetts Financial Services Co. MA Decreases Stock Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Massachusetts Financial Services Co. MA reduced its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,072,483 shares of the biopharmaceutical company’s stock after selling 38,243 shares during the period. Massachusetts Financial Services Co. MA’s holdings in ACADIA Pharmaceuticals were worth $28,646,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Pallas Capital Advisors LLC lifted its stake in shares of ACADIA Pharmaceuticals by 4.0% during the 4th quarter. Pallas Capital Advisors LLC now owns 13,192 shares of the biopharmaceutical company’s stock worth $352,000 after purchasing an additional 512 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 11.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 534 shares during the last quarter. Vise Technologies Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 4.0% during the 3rd quarter. Vise Technologies Inc. now owns 15,367 shares of the biopharmaceutical company’s stock worth $328,000 after purchasing an additional 585 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of ACADIA Pharmaceuticals by 0.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company’s stock worth $1,964,000 after purchasing an additional 626 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 690 shares during the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mark C. Schneyer sold 2,709 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $22.20, for a total value of $60,139.80. Following the completion of the transaction, the executive vice president directly owned 62,836 shares in the company, valued at $1,394,959.20. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jennifer J. Rhodes sold 6,950 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $23.38, for a total value of $162,491.00. Following the completion of the transaction, the executive vice president owned 7,609 shares of the company’s stock, valued at approximately $177,898.42. The trade was a 47.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 10,689 shares of company stock valued at $245,497. Company insiders own 26.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ACAD. Citizens Jmp raised their price target on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Thursday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, January 5th. Royal Bank Of Canada lowered their price target on ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Citigroup raised their price target on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, TD Cowen raised their price target on ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.21.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $21.76 on Thursday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.08 and a fifty-two week high of $28.35. The company has a market cap of $3.71 billion, a PE ratio of 9.50, a P/E/G ratio of 21.94 and a beta of 0.83. The business has a 50-day simple moving average of $22.36 and a two-hundred day simple moving average of $23.78.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $1.48. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The firm had revenue of $298.00 million during the quarter, compared to analysts’ expectations of $292.54 million. During the same period last year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 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.