Valeo Financial Advisors LLC Buys Shares of 1,000 ACADIA Pharmaceuticals Inc. (ACAD)

Valeo Financial Advisors LLC bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,000 shares of the biopharmaceutical company’s stock, valued at approximately $27,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG grew its holdings in ACADIA Pharmaceuticals by 8.8% during the 4th quarter. Deutsche Bank AG now owns 2,010,567 shares of the biopharmaceutical company’s stock worth $32,509,000 after acquiring an additional 162,679 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ACADIA Pharmaceuticals by 16.7% in the 4th quarter. Geode Capital Management LLC now owns 1,244,939 shares of the biopharmaceutical company’s stock valued at $20,130,000 after purchasing an additional 177,701 shares during the last quarter. Norges Bank bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $15,717,000. FMR LLC boosted its stake in shares of ACADIA Pharmaceuticals by 14.9% in the 4th quarter. FMR LLC now owns 21,543,893 shares of the biopharmaceutical company’s stock valued at $348,364,000 after purchasing an additional 2,792,885 shares during the last quarter. Finally, Amalgamated Bank bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $232,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:ACAD opened at $23.32 on Thursday. The company has a market capitalization of $3.60 billion, a P/E ratio of -12.02 and a beta of 3.29. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $12.77 and a fifty-two week high of $28.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.05. The business had revenue of $59.57 million for the quarter, compared to the consensus estimate of $59.46 million. ACADIA Pharmaceuticals had a negative net margin of 109.56% and a negative return on equity of 77.14%. ACADIA Pharmaceuticals’s revenue for the quarter was up 36.8% on a year-over-year basis. During the same period last year, the company posted ($0.55) EPS. Research analysts predict that ACADIA Pharmaceuticals Inc. will post -1.87 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on ACAD shares. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $30.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 27th. BidaskClub lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 12th. ValuEngine lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Sunday, March 3rd. Finally, Canaccord Genuity raised their target price on shares of ACADIA Pharmaceuticals from $23.00 to $27.00 and gave the company an “in-line” rating in a research note on Wednesday, February 27th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. ACADIA Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $31.91.

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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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