First Trust Advisors LP cut its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 13.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,210,441 shares of the biopharmaceutical company’s stock after selling 191,588 shares during the quarter. First Trust Advisors LP owned approximately 0.99% of ACADIA Pharmaceuticals worth $45,597,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of ACAD. BlackRock Inc. increased its stake 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 worth $186,791,000 after acquiring an additional 5,334,832 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of ACADIA Pharmaceuticals in the second quarter worth $102,152,000. Goldman Sachs Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 69.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,908,251 shares of the biopharmaceutical company’s stock worth $53,222,000 after acquiring an additional 785,352 shares during the last quarter. State Street Corp increased its stake in shares of ACADIA Pharmaceuticals by 15.8% in the second quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock worth $104,551,000 after acquiring an additional 510,670 shares during the last quarter. Finally, Elliott Management Corp increased its stake in shares of ACADIA Pharmaceuticals by 61.7% in the second quarter. Elliott Management Corp now owns 1,256,795 shares of the biopharmaceutical company’s stock worth $35,052,000 after acquiring an additional 479,413 shares during the last quarter. 97.12% of the stock is currently owned by institutional investors and hedge funds.
In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 26,507 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $34.87, for a total value of $924,299.09. Following the sale, the executive vice president now directly owns 94,163 shares in the company, valued at approximately $3,283,463.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 78,329 shares of company stock worth $2,957,975 over the last quarter. Company insiders own 22.25% of the company’s stock.
ACAD has been the topic of a number of research reports. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Friday, August 11th. Piper Jaffray Companies set a $54.00 price target on shares of ACADIA Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, August 9th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $50.00 price target (up from $48.00) on shares of ACADIA Pharmaceuticals in a research note on Monday, October 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $49.00 price target on shares of ACADIA Pharmaceuticals in a research note on Sunday, September 17th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $47.73.
ACADIA Pharmaceuticals Inc. (NASDAQ ACAD) opened at 35.04 on Friday. The firm’s 50-day moving average is $36.88 and its 200 day moving average is $31.87. ACADIA Pharmaceuticals Inc. has a 52-week low of $20.68 and a 52-week high of $41.20. The firm’s market capitalization is $4.29 billion.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.17. ACADIA Pharmaceuticals had a negative net margin of 485.14% and a negative return on equity of 62.08%. The firm 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 business earned ($0.63) EPS. The company’s revenue was up 30400.0% compared to the same quarter last year. Equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post ($2.55) EPS for the current year.
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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).
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