Profund Advisors LLC trimmed its position in shares of Acadia Pharmaceuticals (NASDAQ:ACAD) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,978 shares of the biopharmaceutical company’s stock after selling 4,077 shares during the quarter. Profund Advisors LLC’s holdings in Acadia Pharmaceuticals were worth $1,083,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Turner Investments LLC purchased a new position in shares of Acadia Pharmaceuticals during the third quarter valued at approximately $188,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Acadia Pharmaceuticals by 43.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,670 shares of the biopharmaceutical company’s stock worth $214,000 after acquiring an additional 1,710 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in Acadia Pharmaceuticals by 56.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,509 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 2,358 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Acadia Pharmaceuticals in the 4th quarter worth approximately $200,000. Finally, State of Alaska Department of Revenue bought a new stake in Acadia Pharmaceuticals in the 4th quarter worth approximately $219,000. 96.24% of the stock is currently owned by institutional investors and hedge funds.
ACAD has been the subject of a number of recent research reports. BidaskClub raised shares of Acadia Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Zacks Investment Research downgraded shares of Acadia Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, January 15th. Finally, ValuEngine cut shares of Acadia Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, March 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $49.50.
In other news, Director Daniel B. Soland purchased 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The shares were bought at an average price of $23.91 per share, for a total transaction of $167,370.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $47,820. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glenn Baity sold 36,558 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $32.39, for a total transaction of $1,184,113.62. Following the sale, the executive vice president now owns 83,734 shares in the company, valued at approximately $2,712,144.26. The disclosure for this sale can be found here. Company insiders own 22.25% of the company’s stock.
NASDAQ ACAD opened at $21.53 on Friday. Acadia Pharmaceuticals has a 52-week low of $20.62 and a 52-week high of $41.20. The company has a market cap of $2,785.84, a PE ratio of -9.12 and a beta of 3.43.
Acadia Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.58) by $0.03. The company had revenue of $43.56 million during the quarter, compared to analysts’ expectations of $45.30 million. Acadia Pharmaceuticals had a negative net margin of 231.71% and a negative return on equity of 73.02%. analysts predict that Acadia Pharmaceuticals will post -1.82 EPS for the current year.
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Acadia Pharmaceuticals Company 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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