Glenmede Trust Co. NA Sells 47,751 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Glenmede Trust Co. NA lowered its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 10.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,892 shares of the biopharmaceutical company’s stock after selling 47,751 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.24% of ACADIA Pharmaceuticals worth $9,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 386 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC grew its holdings in shares of ACADIA Pharmaceuticals by 304.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 1,005 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 277.5% during the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth $52,000. 96.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ACAD has been the subject of several recent research reports. HC Wainwright downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. BMO Capital Markets raised their price objective on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada lifted their price objective on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Bank of America reissued a “buy” rating and issued a $14.50 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, July 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. Thirteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.31.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $25.61 on Tuesday. ACADIA Pharmaceuticals Inc. has a 1 year low of $19.69 and a 1 year high of $28.35. The company has a market cap of $4.39 billion, a PE ratio of 11.64, a P/E/G ratio of 17.94 and a beta of 0.81. The stock’s 50-day moving average is $23.83 and its 200 day moving average is $23.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business had revenue of $268.10 million during the quarter, compared to analysts’ expectations of $280.25 million. During the same quarter last year, the business posted $0.11 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts expect that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. The trade was a 46.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 5,401 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total transaction of $114,393.18. Following the transaction, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. The trade was a 18.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 26.20% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Profile

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.