Peregrine Capital Management LLC decreased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 44.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,657 shares of the biopharmaceutical company’s stock after selling 183,297 shares during the period. Peregrine Capital Management LLC owned approximately 0.14% of ACADIA Pharmaceuticals worth $10,938,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp boosted its stake in ACADIA Pharmaceuticals by 1.0% in the 1st quarter. State Street Corp now owns 4,042,296 shares of the biopharmaceutical company’s stock worth $170,787,000 after purchasing an additional 38,619 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in ACADIA Pharmaceuticals by 41.3% in the 4th quarter. Nuveen Asset Management LLC now owns 2,196,918 shares of the biopharmaceutical company’s stock worth $93,984,000 after purchasing an additional 642,321 shares in the last quarter. Geode Capital Management LLC boosted its stake in ACADIA Pharmaceuticals by 6.6% in the 1st quarter. Geode Capital Management LLC now owns 1,728,070 shares of the biopharmaceutical company’s stock worth $73,010,000 after purchasing an additional 107,011 shares in the last quarter. Janus Henderson Group PLC bought a new position in ACADIA Pharmaceuticals in the 1st quarter worth about $62,948,000. Finally, First Trust Advisors LP boosted its stake in ACADIA Pharmaceuticals by 0.6% in the 1st quarter. First Trust Advisors LP now owns 1,436,349 shares of the biopharmaceutical company’s stock worth $60,686,000 after purchasing an additional 7,889 shares in the last quarter. Institutional investors own 97.98% of the company’s stock.

ACADIA Pharmaceuticals stock traded down $0.92 during midday trading on Friday, hitting $41.57. The stock had a trading volume of 1,639,787 shares, compared to its average volume of 1,906,894. The firm’s fifty day moving average is $49.72 and its two-hundred day moving average is $45.60. The company has a market capitalization of $6.48 billion, a PE ratio of -26.31 and a beta of 1.80. ACADIA Pharmaceuticals Inc. has a 52-week low of $23.77 and a 52-week high of $58.72. The company has a current ratio of 7.26, a quick ratio of 7.20 and a debt-to-equity ratio of 0.01.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.09). The firm had revenue of $90.07 million during the quarter, compared to analysts’ expectations of $90.76 million. ACADIA Pharmaceuticals had a negative return on equity of 39.40% and a negative net margin of 64.99%. The company’s revenue was up 43.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.59) earnings per share. As a group, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post -1.89 earnings per share for the current fiscal year.

In other ACADIA Pharmaceuticals news, Director James M. Daly sold 26,250 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $51.13, for a total transaction of $1,342,162.50. Following the completion of the sale, the director now directly owns 11,250 shares of the company’s stock, valued at approximately $575,212.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael J. Yang sold 27,250 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $56.25, for a total transaction of $1,532,812.50. Following the sale, the executive vice president now directly owns 12,704 shares of the company’s stock, valued at $714,600. The disclosure for this sale can be found here. Insiders sold a total of 247,253 shares of company stock valued at $12,158,272 over the last three months. 27.70% of the stock is currently owned by insiders.

ACAD has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price target on shares of ACADIA Pharmaceuticals from $61.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 21st. BidaskClub cut shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday. Jefferies Financial Group restated a “buy” rating and set a $60.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday, July 21st. Oppenheimer lowered their target price on shares of ACADIA Pharmaceuticals from $53.00 to $42.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 21st. Finally, Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating and set a $58.00 target price on the stock in a research note on Thursday, July 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. ACADIA Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $57.38.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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

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