Legato Capital Management LLC Invests $223,000 in ACADIA Pharmaceuticals Inc. (ACAD)

Legato Capital Management LLC bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,000 shares of the biopharmaceutical company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ACAD. Vanguard Group Inc. raised its position in shares of 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 buying an additional 348,141 shares during the last quarter. BlackRock Inc. raised its position in shares of 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 buying an additional 5,334,832 shares during the last quarter. OppenheimerFunds Inc. raised its position in shares of 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 buying an additional 170,289 shares during the last quarter. Janus Capital Management LLC raised its position in shares of 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 buying an additional 26,690 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of 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 buying an additional 706,200 shares during the last quarter. 97.34% of the stock is owned by institutional investors and hedge funds.

Shares of ACADIA Pharmaceuticals Inc. (ACAD) traded up 3.24% during mid-day trading on Friday, reaching $31.21. The company’s stock had a trading volume of 2,092,205 shares. The company has a 50-day moving average price of $29.35 and a 200 day moving average price of $32.02. The company’s market cap is $3.82 billion. ACADIA Pharmaceuticals Inc. has a 52-week low of $20.68 and a 52-week 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 consensus estimate of ($0.72) by $0.17. The business had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The firm’s revenue for the quarter was up 30400.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.63) EPS. Equities analysts expect that ACADIA Pharmaceuticals Inc. will post ($2.58) earnings per share for the current year.

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ACAD has been the subject of several recent analyst reports. BidaskClub raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 21st. Zacks Investment Research raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, April 14th. Rodman & Renshaw reissued a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, May 22nd. ValuEngine raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, HC Wainwright reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. ACADIA Pharmaceuticals has an average rating of “Buy” and an average target price of $43.23.

In other news, EVP Glenn Baity sold 14,322 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $34.88, for a total value of $499,551.36. Following the completion of the transaction, the executive vice president now owns 78,578 shares in the company, valued at approximately $2,740,800.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 54,322 shares of company stock valued at $1,699,551 in the last 90 days. 22.25% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Company 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).

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

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