40,032 Shares in ACADIA Pharmaceuticals Inc. (ACAD) Purchased by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC bought a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 40,032 shares of the biopharmaceutical company’s stock, valued at approximately $831,000.

Several other hedge funds and other institutional investors have also modified their holdings of ACAD. Verition Fund Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at about $163,000. Centaurus Financial Inc. acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at about $169,000. NEXT Financial Group Inc acquired a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at about $176,000. Flagship Harbor Advisors LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at about $179,000. Finally, NumerixS Investment Technologies Inc raised its position in shares of ACADIA Pharmaceuticals by 70.9% in the second quarter. NumerixS Investment Technologies Inc now owns 13,500 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 5,600 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

In other news, Director Bros. Advisors Lp Baker acquired 1,210,776 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was purchased at an average cost of $18.70 per share, for a total transaction of $22,641,511.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 23.28% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on ACAD shares. Cantor Fitzgerald started coverage on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 23rd. They issued an “overweight” rating and a $25.00 target price for the company. JPMorgan Chase & Co. set a $50.00 target price on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, July 1st. Piper Jaffray Companies upgraded shares of ACADIA Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $25.00 target price for the company in a research report on Thursday, September 20th. Zacks Investment Research cut shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, September 10th. Finally, ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 22nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $33.44.

ACADIA Pharmaceuticals stock opened at $22.73 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $12.77 and a 12-month high of $38.00.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.06). ACADIA Pharmaceuticals had a negative return on equity of 78.56% and a negative net margin of 135.99%. The firm had revenue of $57.06 million for the quarter, compared to analyst estimates of $58.63 million. During the same quarter in the previous year, the business posted ($0.55) earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 87.2% on a year-over-year basis. As a group, equities research analysts expect that ACADIA Pharmaceuticals Inc. will post -2.08 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Profile

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

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