Legato Capital Management LLC increased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 321.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 33,748 shares of the biopharmaceutical company’s stock after buying an additional 25,748 shares during the period. Legato Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $1,271,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 5,422.8% during the 1st quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock valued at $186,791,000 after purchasing an additional 5,334,832 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at about $102,152,000. Goldman Sachs Group Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 69.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,908,251 shares of the biopharmaceutical company’s stock valued at $53,222,000 after purchasing an additional 785,352 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals by 60.8% during the 2nd quarter. First Trust Advisors LP now owns 1,402,029 shares of the biopharmaceutical company’s stock valued at $39,103,000 after purchasing an additional 530,103 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of ACADIA Pharmaceuticals by 15.8% during the 2nd quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock valued at $104,551,000 after purchasing an additional 510,670 shares during the last quarter. 96.97% of the stock is owned by institutional investors.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping 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 the consensus estimate of $20.02 million. During the same period in the prior year, the firm earned ($0.63) EPS. The firm’s revenue for the quarter was up 30400.0% on a year-over-year basis.
ACAD has been the subject of a number of analyst reports. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Friday, August 11th. Piper Jaffray Companies set a $54.00 price target on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, August 9th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $50.00 price target (up previously from $48.00) on shares of ACADIA Pharmaceuticals in a report 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 report on Sunday, September 17th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $47.73.
In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 14,322 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $34.88, for a total value of $499,551.36. Following the sale, the executive vice president now directly owns 78,578 shares of the company’s stock, valued at approximately $2,740,800.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 78,329 shares of company stock worth $2,957,975. Insiders own 22.25% of the company’s stock.
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About ACADIA Pharmaceuticals
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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