Credit Suisse AG lessened its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 177,569 shares of the biopharmaceutical company’s stock after selling 11,168 shares during the quarter. Credit Suisse AG owned about 0.11% of ACADIA Pharmaceuticals worth $2,905,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in ACAD. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $2,432,000. Nordea Investment Management AB increased its holdings in shares of ACADIA Pharmaceuticals by 1.7% in the second quarter. Nordea Investment Management AB now owns 630,080 shares of the biopharmaceutical company’s stock valued at $8,890,000 after purchasing an additional 10,555 shares during the last quarter. Duality Advisers LP increased its holdings in shares of ACADIA Pharmaceuticals by 863.4% in the second quarter. Duality Advisers LP now owns 213,094 shares of the biopharmaceutical company’s stock valued at $3,002,000 after purchasing an additional 190,976 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in shares of ACADIA Pharmaceuticals by 34.7% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,032,739 shares of the biopharmaceutical company’s stock valued at $16,896,000 after purchasing an additional 265,768 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of ACADIA Pharmaceuticals by 236.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 509,921 shares of the biopharmaceutical company’s stock valued at $8,342,000 after purchasing an additional 358,405 shares during the last quarter. Hedge funds and other institutional investors own 92.79% of the company’s stock.
Insiders Place Their Bets
In other ACADIA Pharmaceuticals news, Director Laura Brege sold 12,500 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $18.25, for a total transaction of $228,125.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Stephen Davis sold 3,851 shares of the business’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $18.78, for a total value of $72,321.78. Following the completion of the sale, the chief executive officer now directly owns 91,727 shares of the company’s stock, valued at approximately $1,722,633.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura Brege sold 12,500 shares of the business’s stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $18.25, for a total value of $228,125.00. The disclosure for this sale can be found here. Insiders sold 23,567 shares of company stock valued at $427,672 in the last ninety days. Insiders own 28.40% of the company’s stock.
ACADIA Pharmaceuticals Trading Up 0.2 %
NASDAQ:ACAD opened at $20.34 on Friday. The firm has a market cap of $3.30 billion, a PE ratio of -15.18 and a beta of 0.59. The stock has a fifty day moving average price of $18.44 and a 200 day moving average price of $16.92. ACADIA Pharmaceuticals Inc. has a 12-month low of $12.24 and a 12-month high of $28.06.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last released its earnings results on Monday, February 27th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The company had revenue of $136.49 million during the quarter, compared to analysts’ expectations of $135.18 million. ACADIA Pharmaceuticals had a negative net margin of 41.76% and a negative return on equity of 50.65%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.27) earnings per share. Equities analysts forecast that ACADIA Pharmaceuticals Inc. will post -0.81 EPS for the current year.
Wall Street Analyst Weigh In
ACAD has been the subject of several recent research reports. Royal Bank of Canada increased their price target on ACADIA Pharmaceuticals from $19.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday. Morgan Stanley raised their target price on ACADIA Pharmaceuticals from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Mizuho raised their target price on ACADIA Pharmaceuticals from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday. Citigroup raised their target price on ACADIA Pharmaceuticals from $19.00 to $19.40 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $20.52.
ACADIA Pharmaceuticals Profile
ACADIA Pharmaceuticals, Inc operates as a biopharmaceutical company. It focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. The firm’s products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.
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