PNC Financial Services Group Inc. raised its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 138.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,384 shares of the biopharmaceutical company’s stock after buying an additional 2,548 shares during the period. PNC Financial Services Group Inc.’s holdings in ACADIA Pharmaceuticals were worth $150,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of ACAD. Envestnet Asset Management Inc. boosted its position in shares of ACADIA Pharmaceuticals by 23.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 617 shares during the period. Russell Investments Group Ltd. bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $145,000. Nisa Investment Advisors LLC boosted its position in shares of ACADIA Pharmaceuticals by 12.8% in the first quarter. Nisa Investment Advisors LLC now owns 4,510 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 510 shares during the period. Winslow Evans & Crocker Inc. boosted its stake in ACADIA Pharmaceuticals by 45.7% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,100 shares of the biopharmaceutical company’s stock valued at $175,000 after buying an additional 1,600 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in ACADIA Pharmaceuticals during the first quarter valued at about $209,000. Institutional investors own 97.34% of the company’s stock.
Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) traded down 8.97% during trading on Thursday, reaching $30.23. 3,469,969 shares of the company’s stock were exchanged. ACADIA Pharmaceuticals Inc. has a 12-month low of $20.68 and a 12-month high of $40.83. The company has a 50 day moving average of $29.28 and a 200 day moving average of $32.02. The stock’s market cap is $3.69 billion.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.17. ACADIA Pharmaceuticals had a negative net margin of 485.14% and a negative return on equity of 59.00%. The business had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $20.02 million. During the same period last year, the business earned ($0.63) earnings per share. The business’s revenue for the quarter was up 30400.0% on a year-over-year basis. Equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post ($2.62) EPS for the current year.
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Several research firms recently issued reports on ACAD. ValuEngine raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday. Cowen and Company restated an “outperform” rating and issued a $46.00 price objective (up from $42.00) on shares of ACADIA Pharmaceuticals in a report on Thursday. HC Wainwright reiterated a “buy” rating and set a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday. Piper Jaffray Companies set a $54.00 target price on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday. Finally, BidaskClub raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $43.15.
In related news, EVP Glenn Baity sold 38,097 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $30.00, for a total value of $1,142,910.00. Following the completion of the transaction, the executive vice president now owns 109,253 shares in the company, valued at $3,277,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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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