Russell Investments Group Ltd. Sells 12,691 Shares of ACADIA Pharmaceuticals Inc. (ACAD)
Russell Investments Group Ltd. lowered its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 52.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,459 shares of the biopharmaceutical company’s stock after selling 12,691 shares during the period. Russell Investments Group Ltd.’s holdings in ACADIA Pharmaceuticals were worth $319,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of ACAD. BlackRock Inc. boosted its holdings in ACADIA Pharmaceuticals by 5,422.8% in the 1st quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock valued at $186,791,000 after purchasing an additional 5,334,832 shares during the period. Elliott Management Corp bought a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at about $26,726,000. Point72 Asset Management L.P. boosted its holdings in ACADIA Pharmaceuticals by 57.6% in the 1st quarter. Point72 Asset Management L.P. now owns 1,931,200 shares of the biopharmaceutical company’s stock valued at $66,395,000 after purchasing an additional 706,200 shares during the period. Vanguard Group Inc. boosted its holdings in ACADIA Pharmaceuticals by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 7,469,785 shares of the biopharmaceutical company’s stock valued at $256,812,000 after purchasing an additional 348,141 shares during the period. Finally, Westfield Capital Management Co. LP bought a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at about $8,206,000. 97.10% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on ACAD. Needham & Company LLC reissued a “buy” rating and issued a $49.00 price objective on shares of ACADIA Pharmaceuticals in a report on Sunday, September 17th. ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Cowen and Company restated an “outperform” rating and issued a $46.00 target price (up from $42.00) on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 10th. Piper Jaffray Companies set a $54.00 target price on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Friday, August 11th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $43.23.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) traded down 0.11% during trading on Friday, reaching $37.59. 867,543 shares of the company were exchanged. The firm’s 50-day moving average is $33.31 and its 200 day moving average is $31.51. ACADIA Pharmaceuticals Inc. has a one year low of $20.68 and a one year high of $40.83. The company’s market capitalization is $4.60 billion.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.17. The firm had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The business’s revenue was up 30400.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.63) EPS. On average, analysts anticipate that ACADIA Pharmaceuticals Inc. will post ($2.55) EPS for the current fiscal year.
In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 38,097 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $30.00, for a total transaction of $1,142,910.00. Following the completion of the sale, the executive vice president now directly owns 109,253 shares of the company’s stock, valued at approximately $3,277,590. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 78,926 shares of company stock valued at $2,566,760 over the last ninety days. 22.25% of the stock is owned by insiders.
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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