Russell Investments Group Ltd. Sells 8,845 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Russell Investments Group Ltd. lowered its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) by 6.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,105 shares of the biopharmaceutical company’s stock after selling 8,845 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of ACADIA Pharmaceuticals worth $3,149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ACAD. First Trust Advisors LP grew its position in ACADIA Pharmaceuticals by 28.8% in the 4th quarter. First Trust Advisors LP now owns 3,352,883 shares of the biopharmaceutical company’s stock worth $78,256,000 after purchasing an additional 750,420 shares during the period. Geode Capital Management LLC grew its position in ACADIA Pharmaceuticals by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 2,164,152 shares of the biopharmaceutical company’s stock worth $50,511,000 after purchasing an additional 143,000 shares during the period. Perceptive Advisors LLC bought a new stake in ACADIA Pharmaceuticals in the 4th quarter worth approximately $36,972,000. Goldman Sachs Group Inc. grew its position in ACADIA Pharmaceuticals by 42.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,181,923 shares of the biopharmaceutical company’s stock worth $27,586,000 after purchasing an additional 355,077 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in ACADIA Pharmaceuticals by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 883,001 shares of the biopharmaceutical company’s stock worth $20,610,000 after purchasing an additional 61,899 shares during the period. Institutional investors own 91.74% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $16.40 on Friday. The company has a market cap of $2.65 billion, a P/E ratio of -12.91 and a beta of 0.71. The firm’s fifty day moving average is $15.70 and its two-hundred day moving average is $20.01. ACADIA Pharmaceuticals Inc. has a 52-week low of $12.24 and a 52-week high of $28.06.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.04. The company had revenue of $134.56 million for the quarter, compared to the consensus estimate of $130.06 million. ACADIA Pharmaceuticals had a negative net margin of 39.93% and a negative return on equity of 41.18%. ACADIA Pharmaceuticals’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.27) EPS. As a group, analysts forecast that ACADIA Pharmaceuticals Inc. will post -1.3 EPS for the current fiscal year.

Analyst Ratings Changes

ACAD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 21st. Cowen dropped their price target on shares of ACADIA Pharmaceuticals from $32.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, August 8th. Canaccord Genuity Group dropped their price target on shares of ACADIA Pharmaceuticals from $31.00 to $20.00 in a research note on Wednesday, June 22nd. Citigroup lifted their price target on shares of ACADIA Pharmaceuticals from $15.00 to $17.00 in a research note on Tuesday, August 9th. Finally, HC Wainwright lifted their price target on shares of ACADIA Pharmaceuticals from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $22.72.

ACADIA Pharmaceuticals Profile

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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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