JPMorgan Chase & Co. decreased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,879,824 shares of the biopharmaceutical company’s stock after selling 3,342 shares during the quarter. JPMorgan Chase & Co. owned 1.51% of ACADIA Pharmaceuticals worth $72,128,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of ACAD. BlackRock Inc. increased its position in ACADIA Pharmaceuticals by 2.9% during the 2nd quarter. BlackRock Inc. now owns 5,590,706 shares of the biopharmaceutical company’s stock worth $155,925,000 after purchasing an additional 157,497 shares in the last quarter. Geneva Advisors LLC grew its holdings in ACADIA Pharmaceuticals by 4.9% during the 2nd quarter. Geneva Advisors LLC now owns 18,893 shares of the biopharmaceutical company’s stock worth $527,000 after acquiring an additional 891 shares during the last quarter. Legato Capital Management LLC boosted its stake in shares of ACADIA Pharmaceuticals by 321.9% in the 3rd quarter. Legato Capital Management LLC now owns 33,748 shares of the biopharmaceutical company’s stock valued at $1,271,000 after purchasing an additional 25,748 shares during the last quarter. Columbus Circle Investors boosted its stake in shares of ACADIA Pharmaceuticals by 89.5% in the 2nd quarter. Columbus Circle Investors now owns 175,149 shares of the biopharmaceutical company’s stock valued at $4,885,000 after purchasing an additional 82,716 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of ACADIA Pharmaceuticals by 118.3% in the 2nd quarter. Nationwide Fund Advisors now owns 26,940 shares of the biopharmaceutical company’s stock valued at $751,000 after purchasing an additional 14,600 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.
A number of research firms recently issued reports on ACAD. HC Wainwright reiterated a “buy” rating and set a $60.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, November 8th. J P Morgan Chase & Co set a $50.00 price objective on shares of ACADIA Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, October 5th. Piper Jaffray Companies reiterated a “buy” rating and issued a $61.00 target price (up previously from $54.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. JMP Securities increased their target price on shares of ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, October 5th. Finally, ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.44.
In related news, EVP Glenn Baity sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $40.91, for a total transaction of $1,534,125.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.25% of the stock is owned by corporate insiders.
Shares of ACADIA Pharmaceuticals Inc. (ACAD) opened at $28.97 on Friday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $24.82 and a fifty-two week high of $41.20.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative return on equity of 67.68% and a negative net margin of 320.71%. The business had revenue of $35.58 million during the quarter, compared to analyst estimates of $32.03 million. During the same quarter in the previous year, the firm earned ($0.61) EPS. ACADIA Pharmaceuticals’s revenue was up 571.3% on a year-over-year basis. sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post -2.41 earnings per share for the current year.
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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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