Prudential Financial Inc. boosted its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,460 shares of the biopharmaceutical company’s stock after acquiring an additional 13,400 shares during the period. Prudential Financial Inc. owned 0.15% of ACADIA Pharmaceuticals worth $5,145,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in ACADIA Pharmaceuticals by 4.9% in the first quarter. Vanguard Group Inc. now owns 7,469,785 shares of the biopharmaceutical company’s stock valued at $256,812,000 after acquiring an additional 348,141 shares during the last quarter. BlackRock Inc. boosted its holdings in ACADIA Pharmaceuticals by 5,422.8% in the first quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock valued at $186,791,000 after acquiring an additional 5,334,832 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in ACADIA Pharmaceuticals by 3.6% in the first quarter. OppenheimerFunds Inc. now owns 4,918,286 shares of the biopharmaceutical company’s stock valued at $169,090,000 after acquiring an additional 170,289 shares during the last quarter. Janus Capital Management LLC boosted its holdings in ACADIA Pharmaceuticals by 0.8% in the first quarter. Janus Capital Management LLC now owns 3,418,861 shares of the biopharmaceutical company’s stock valued at $117,539,000 after acquiring an additional 26,690 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in ACADIA Pharmaceuticals by 57.6% in the first quarter. Point72 Asset Management L.P. now owns 1,931,200 shares of the biopharmaceutical company’s stock valued at $66,395,000 after acquiring an additional 706,200 shares during the last quarter. Institutional investors and hedge funds own 97.10% of the company’s stock.
In related news, EVP Glenn Baity sold 38,097 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $30.00, for a total transaction of $1,142,910.00. Following the sale, the executive vice president now directly owns 109,253 shares in the company, valued at $3,277,590. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 80,829 shares of company stock worth $2,623,850 over the last 90 days. 22.25% of the stock is currently owned by corporate insiders.
ACAD has been the topic of several analyst reports. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday, July 11th. Needham & Company LLC reiterated a “buy” rating and issued a $49.00 target price on shares of ACADIA Pharmaceuticals in a report on Sunday. HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, August 9th. BidaskClub upgraded ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 21st. Finally, ValuEngine upgraded ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. ACADIA Pharmaceuticals has a consensus rating of “Buy” and an average price target of $43.23.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) opened at 36.98 on Tuesday. The stock’s 50 day moving average price is $33.12 and its 200-day moving average price is $31.51. The firm’s market capitalization is $4.53 billion. ACADIA Pharmaceuticals Inc. has a 12 month low of $20.68 and a 12 month high of $40.83.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.17. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The company had revenue of $30.50 million for the quarter, compared to analyst estimates of $20.02 million. During the same period in the previous year, the company posted ($0.63) earnings per share. The firm’s revenue was up 30400.0% on a year-over-year basis. Equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post ($2.55) EPS for the current fiscal year.
ACADIA Pharmaceuticals Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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