Assenagon Asset Management S.A. Takes $713,000 Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Assenagon Asset Management S.A. bought a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,822 shares of the biopharmaceutical company’s stock, valued at approximately $713,000.

Several other hedge funds also recently bought and sold shares of ACAD. Price T Rowe Associates Inc. MD lifted its holdings in ACADIA Pharmaceuticals by 2.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 7,537,393 shares of the biopharmaceutical company’s stock worth $201,475,000 after acquiring an additional 179,737 shares during the period. Invesco Ltd. lifted its holdings in ACADIA Pharmaceuticals by 950.3% during the second quarter. Invesco Ltd. now owns 4,015,482 shares of the biopharmaceutical company’s stock worth $107,334,000 after acquiring an additional 3,633,171 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in ACADIA Pharmaceuticals by 32.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,901,850 shares of the biopharmaceutical company’s stock worth $50,836,000 after acquiring an additional 461,869 shares during the period. Nuveen Asset Management LLC bought a new stake in ACADIA Pharmaceuticals during the second quarter worth $42,444,000. Finally, JPMorgan Chase & Co. lifted its holdings in ACADIA Pharmaceuticals by 45.5% during the second quarter. JPMorgan Chase & Co. now owns 1,174,763 shares of the biopharmaceutical company’s stock worth $31,050,000 after acquiring an additional 367,547 shares during the period. Institutional investors own 94.88% of the company’s stock.

ACAD has been the topic of a number of recent analyst reports. Leerink Swann upgraded ACADIA Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $21.00 to $50.00 in a report on Friday, September 13th. Zacks Investment Research lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Needham & Company LLC lifted their price target on ACADIA Pharmaceuticals from $34.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Cowen reiterated a “buy” rating and set a $66.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, September 9th. Finally, HC Wainwright set a $60.00 price target on ACADIA Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. ACADIA Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $47.87.

In other news, insider Eric Alejandro Miller sold 28,467 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, September 9th. The stock was sold at an average price of $39.49, for a total value of $1,124,161.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bros. Advisors Lp Baker purchased 1,562,500 shares of ACADIA Pharmaceuticals stock in a transaction dated Friday, September 20th. The stock was bought at an average price of $40.00 per share, with a total value of $62,500,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 97,942 shares of company stock worth $3,840,880. Corporate insiders own 29.40% of the company’s stock.

Shares of ACAD opened at $42.51 on Wednesday. The firm has a market cap of $6.33 billion, a PE ratio of -21.91 and a beta of 2.81. The stock’s fifty day moving average price is $37.66 and its two-hundred day moving average price is $29.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.79. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.01 and a 1 year high of $44.85.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.08. The firm had revenue of $83.21 million for the quarter, compared to analyst estimates of $72.50 million. ACADIA Pharmaceuticals had a negative return on equity of 70.97% and a negative net margin of 101.45%. The business’s revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.51) earnings per share. Sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post -1.86 earnings per share for the current fiscal year.

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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