ACADIA Pharmaceuticals (ACAD) Sees Large Volume Increase

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) saw unusually-strong trading volume on Friday . Approximately 13,522,900 shares traded hands during trading, an increase of 386% from the previous session’s volume of 2,781,368 shares.The stock last traded at $16.33 and had previously closed at $15.95.

Several equities research analysts have weighed in on ACAD shares. JPMorgan Chase & Co. set a $50.00 price target on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, April 10th. ValuEngine cut shares of ACADIA Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, March 23rd. BidaskClub cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 2nd. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, May 1st. Finally, HC Wainwright reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, May 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. ACADIA Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $47.45.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Friday, May 4th. The biopharmaceutical company reported ($0.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.12. ACADIA Pharmaceuticals had a negative net margin of 161.44% and a negative return on equity of 71.47%. The firm had revenue of $48.90 million during the quarter, compared to analysts’ expectations of $47.06 million. During the same period last year, the company posted ($0.72) EPS. The company’s quarterly revenue was up 219.6% compared to the same quarter last year. equities research analysts expect that ACADIA Pharmaceuticals Inc. will post -1.71 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its position in shares of ACADIA Pharmaceuticals by 54.8% in the 1st quarter. Handelsbanken Fonder AB now owns 325,000 shares of the biopharmaceutical company’s stock worth $7,303,000 after purchasing an additional 115,000 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of ACADIA Pharmaceuticals by 37.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 15,332 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 4,200 shares in the last quarter. Royal Bank of Canada increased its stake in shares of ACADIA Pharmaceuticals by 18.2% in the 1st quarter. Royal Bank of Canada now owns 72,080 shares of the biopharmaceutical company’s stock worth $1,620,000 after acquiring an additional 11,078 shares in the last quarter. Millennium Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 662.1% in the 1st quarter. Millennium Management LLC now owns 661,358 shares of the biopharmaceutical company’s stock worth $14,861,000 after acquiring an additional 574,577 shares in the last quarter. Finally, Opus Point Partners Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 433.9% in the 1st quarter. Opus Point Partners Management LLC now owns 36,733 shares of the biopharmaceutical company’s stock worth $825,000 after acquiring an additional 29,853 shares in the last quarter. 97.18% of the stock is owned by hedge funds and other institutional investors.

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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