D.A. Davidson & CO. lessened its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 40.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,549 shares of the biopharmaceutical company’s stock after selling 13,300 shares during the quarter. D.A. Davidson & CO.’s holdings in ACADIA Pharmaceuticals were worth $406,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. NEXT Financial Group Inc acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at approximately $176,000. Russell Investments Group Ltd. increased its stake in shares of ACADIA Pharmaceuticals by 96.4% during the third quarter. Russell Investments Group Ltd. now owns 8,562 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 4,202 shares during the period. Gofen & Glossberg LLC IL acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at approximately $211,000. Verition Fund Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter valued at approximately $163,000. Finally, Centaurus Financial Inc. acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter valued at approximately $169,000. Institutional investors and hedge funds own 94.99% of the company’s stock.
In other ACADIA Pharmaceuticals news, Director Bros. Advisors Lp Baker bought 1,210,776 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, September 20th. The stock was purchased at an average cost of $18.70 per share, for a total transaction of $22,641,511.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 23.28% of the company’s stock.
Shares of NASDAQ:ACAD opened at $18.82 on Thursday. ACADIA Pharmaceuticals Inc. has a 1-year low of $12.77 and a 1-year high of $32.99.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.08. The firm had revenue of $58.31 million during the quarter, compared to analysts’ expectations of $56.31 million. ACADIA Pharmaceuticals had a negative net margin of 119.62% and a negative return on equity of 88.18%. The firm’s revenue for the quarter was up 63.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.53) earnings per share. On average, analysts expect that ACADIA Pharmaceuticals Inc. will post -2 earnings per share for the current fiscal year.
A number of research firms recently commented on ACAD. Cantor Fitzgerald reiterated a “buy” rating and set a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday. Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating and set a $24.00 price objective on the stock in a research note on Monday, October 8th. BidaskClub lowered shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Bank of America raised their price objective on shares of ACADIA Pharmaceuticals from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, October 10th. Finally, Leerink Swann began coverage on shares of ACADIA Pharmaceuticals in a research note on Monday, November 12th. They set a “market perform” rating and a $21.00 price objective on the stock. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $31.80.
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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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