Allianz Asset Management GmbH Has $2.77 Million Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Allianz Asset Management GmbH reduced its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 56.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 107,185 shares of the biopharmaceutical company’s stock after selling 138,388 shares during the period. Allianz Asset Management GmbH owned 0.07% of ACADIA Pharmaceuticals worth $2,766,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $28,000. Retirement Group LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $28,000. Charter Oak Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $33,000. Captrust Financial Advisors acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $95,000. Finally, Allred Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at $52,000. 90.19% of the stock is owned by institutional investors.

Several research firms have recently commented on ACAD. Guggenheim reissued a “neutral” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, March 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reaffirmed a “neutral” rating and set a $35.00 price objective (down from $66.00) on shares of ACADIA Pharmaceuticals in a research note on Monday, March 15th. Citigroup reaffirmed a “neutral” rating and set a $35.00 price objective (down from $66.00) on shares of ACADIA Pharmaceuticals in a research note on Monday, March 15th. Raymond James cut ACADIA Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, April 5th. Finally, Canaccord Genuity lifted their target price on ACADIA Pharmaceuticals from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, May 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $32.44.

ACAD opened at $25.01 on Friday. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.20 and a 52-week high of $58.72. The stock’s 50-day moving average is $22.62.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, May 4th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.11. The business had revenue of $106.55 million for the quarter, compared to analyst estimates of $112.91 million. ACADIA Pharmaceuticals had a negative return on equity of 41.17% and a negative net margin of 56.74%. On average, analysts expect that ACADIA Pharmaceuticals Inc. will post -1.26 EPS for the current fiscal year.

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 7,850 shares of the business’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $20.33, for a total transaction of $159,590.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Srdjan R. Stankovic sold 4,230 shares of the business’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $20.33, for a total value of $85,995.90. Following the transaction, the president now directly owns 40,664 shares in the company, valued at approximately $826,699.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,166 shares of company stock worth $287,995. Company insiders own 28.50% of the company’s stock.

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; Trofinetide, a novel synthetic analog for the treatment of Rett syndrome; ACP-044, a novel first-in-class orally administered non-opioid analgesic for treating acute and chronic pain; and ACP-319, a positive allosteric modulator of the muscarinic receptor for treating cognition and schizophrenia.

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

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