Harvey Capital Management Inc. raised its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,150 shares of the biopharmaceutical company’s stock after buying an additional 1,800 shares during the period. ACADIA Pharmaceuticals comprises approximately 2.8% of Harvey Capital Management Inc.’s portfolio, making the stock its 13th largest position. Harvey Capital Management Inc. owned approximately 0.19% of ACADIA Pharmaceuticals worth $6,474,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in ACAD. Envestnet Asset Management Inc. raised its stake in ACADIA Pharmaceuticals by 23.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 617 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $145,000. PNC Financial Services Group Inc. raised its stake in ACADIA Pharmaceuticals by 138.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,548 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in ACADIA Pharmaceuticals by 12.8% in the first quarter. Nisa Investment Advisors LLC now owns 4,510 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 510 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in ACADIA Pharmaceuticals during the first quarter valued at approximately $161,000. Institutional investors and hedge funds own 97.34% of the company’s stock.
Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) traded up 0.65% on Monday, hitting $30.89. 379,684 shares of the stock traded hands. The company’s 50 day moving average is $28.71 and its 200 day moving average is $32.08. The stock’s market cap is $3.77 billion. ACADIA Pharmaceuticals Inc. has a one year low of $20.68 and a one year high of $40.83.
ACAD has been the topic of several recent research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $47.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 12th. Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Tuesday, July 11th. HC Wainwright reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, May 10th. Rodman & Renshaw reiterated a “buy” rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, May 22nd. Finally, BidaskClub upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.21.
In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 1,903 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $30.00, for a total transaction of $57,090.00. Following the completion of the sale, the executive vice president now directly owns 83,059 shares in the company, valued at approximately $2,491,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.25% of the company’s stock.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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