Emerald Mutual Fund Advisers Trust Has $369,000 Stake in ACADIA Pharmaceuticals Inc. $ACAD

Emerald Mutual Fund Advisers Trust trimmed its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 96.6% during the first quarter, HoldingsChannel.com reports. The firm owned 16,576 shares of the biopharmaceutical company’s stock after selling 467,930 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in ACADIA Pharmaceuticals were worth $369,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its holdings in shares of ACADIA Pharmaceuticals by 9.0% during the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock worth $211,296,000 after buying an additional 655,257 shares in the last quarter. Geode Capital Management LLC lifted its stake in ACADIA Pharmaceuticals by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after acquiring an additional 106,807 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in ACADIA Pharmaceuticals by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,920,974 shares of the biopharmaceutical company’s stock valued at $78,019,000 after acquiring an additional 122,840 shares in the last quarter. Marshall Wace LLP boosted its position in ACADIA Pharmaceuticals by 19.8% during the 3rd quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock worth $50,339,000 after acquiring an additional 389,170 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in ACADIA Pharmaceuticals by 16.8% during the 4th quarter. First Trust Advisors LP now owns 2,270,034 shares of the biopharmaceutical company’s stock worth $60,633,000 after acquiring an additional 326,882 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Canaccord Genuity Group boosted their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Citigroup increased their target price on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Bank of America raised their target price on shares of ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Finally, HC Wainwright lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Twelve research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.94.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 5,401 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the transaction, the insider directly owned 24,509 shares of the company’s stock, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Schneyer sold 3,506 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the transaction, the executive vice president owned 66,145 shares in the company, valued at approximately $1,441,299.55. The trade was a 5.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,239 shares of company stock valued at $219,813 over the last three months. 26.20% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $25.49 on Wednesday. The stock has a 50 day moving average price of $22.70 and a 200 day moving average price of $23.33. The stock has a market capitalization of $4.36 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 18.37 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a 52 week low of $19.69 and a 52 week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results 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 company had revenue of $268.10 million for the quarter, compared to analyst estimates of $280.25 million. During the same period last year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.37 EPS for the current year.

ACADIA Pharmaceuticals Company 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.