TD Asset Management Inc sells 82,800 shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

TD Asset Management Inc reduced its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Free Report) by 78.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,296 shares of the biopharmaceutical company’s stock after selling 82,800 shares during the quarter. TD Asset Management Inc’s holdings in ACADIA Pharmaceuticals were worth $379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in ACADIA Pharmaceuticals by 5.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after acquiring an additional 778 shares in the last quarter . Swiss National Bank boosted its position in ACADIA Pharmaceuticals by 0.4% in the first quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after acquiring an additional 800 shares in the last quarter. Franklin Resources Inc. boosted its position in ACADIA Pharmaceuticals by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock valued at $1,578,000 after purchasing an additional 803 shares in the last quarter. Covestor Ltd boosted its position in ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 840 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $39,000. Institutional investors own 96.71% of the company’s shares.

Analysts on Wall Street are forecasting an increase

Several analysts have issued reports on the company. Citigroup decreased their price target on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reduced their price objective on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. StockNews.com raised ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, BMO Capital Markets initiated coverage on ACADIA Pharmaceuticals in a research report on Thursday, June 27th. They issued an “outperform” rating and a $31.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.56.

Check out our latest report on ACAD

Insider buying and selling

In related news, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the sale, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the sale, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the sale, the chief operating officer now owns 52,177 shares in the company, valued at $797,264.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,014 shares of company stock worth $779,494. Insiders own 28.30% of the company’s shares.

ACADIA Pharmaceuticals stock rose 2.3%

Shares of ACADIA Pharmaceuticals stock opened at $16.32 on Monday. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.55 and a 12-month high of $32.59. The company has a 50-day moving average price of $16.90 and a 200-day moving average price of $17.04. The firm has a market cap of $2.71 billion, a PE ratio of -1,630.37, a P/E/G ratio of 0.53 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company had revenue of $241.96 million for the quarter, compared to analysts’ expectations of $235.95 million. During the same period in the previous year, the firm posted EPS of $0.01. ACADIA Pharmaceuticals’s revenue was up 46.4% compared to the same quarter last year. On average, sell-side analysts expect that ACADIA Pharmaceuticals Inc. to post 0.52 EPS for the current year.

ACADIA Pharmaceuticals Profile

(Free report)

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on developing and commercializing innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with the psychosis of Parkinson’s disease; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for the treatment of Rett syndrome.

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