ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stake Raised by Eagle Asset Management Inc.

Eagle Asset Management Inc. boosted its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,010,663 shares of the biopharmaceutical company’s stock after purchasing an additional 10,545 shares during the quarter. Eagle Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $36,373,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. AdvisorNet Financial Inc bought a new stake in ACADIA Pharmaceuticals in the third quarter worth about $27,000. North Star Investment Management Corp. bought a new stake in ACADIA Pharmaceuticals in the third quarter worth about $32,000. Coastal Investment Advisors Inc. bought a new stake in ACADIA Pharmaceuticals in the third quarter worth about $36,000. Whittier Trust Co. bought a new stake in ACADIA Pharmaceuticals in the third quarter worth about $39,000. Finally, Oppenheimer Asset Management Inc. raised its position in ACADIA Pharmaceuticals by 28.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,273 shares of the biopharmaceutical company’s stock worth $190,000 after acquiring an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

In other news, CEO Stephen Davis sold 2,983 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $39.65, for a total transaction of $118,275.95. Following the completion of the transaction, the chief executive officer now directly owns 5,937 shares in the company, valued at $235,402.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James M. Daly sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $37.80, for a total value of $1,134,000.00. Following the transaction, the director now owns 30,000 shares of the company’s stock, valued at $1,134,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,942 shares of company stock valued at $3,840,880. Corporate insiders own 29.40% of the company’s stock.

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Several equities research analysts have commented on the stock. Stifel Nicolaus set a $39.00 price target on shares of ACADIA Pharmaceuticals and gave the stock a “hold” rating in a research report on Monday, September 9th. Cowen reiterated a “buy” rating and issued a $66.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, September 9th. Leerink Swann upgraded shares of ACADIA Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $21.00 to $50.00 in a research report on Friday, September 13th. BidaskClub cut shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Finally, Needham & Company LLC boosted their price target on shares of ACADIA Pharmaceuticals from $34.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $49.13.

Shares of ACAD opened at $42.61 on Friday. The business’s 50-day moving average price is $40.28 and its 200 day moving average price is $30.49. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.01 and a 1-year high of $44.85. The company has a current ratio of 10.96, a quick ratio of 10.89 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $6.41 billion, a P/E ratio of -21.96 and a beta of 2.82.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.11. ACADIA Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 82.48%. The firm had revenue of $94.59 million during the quarter, compared to analyst estimates of $88.49 million. During the same period in the previous year, the company earned ($0.50) EPS. The company’s revenue for the quarter was up 62.2% on a year-over-year basis. On average, research analysts predict that ACADIA Pharmaceuticals Inc. will post -1.62 earnings per share for the current year.

About ACADIA Pharmaceuticals

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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