ACADIA Pharmaceuticals Inc. (ACAD) Short Interest Update
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was the target of a significant drop in short interest in September. As of September 29th, there was short interest totalling 6,510,387 shares, a drop of 60.7% from the September 15th total of 16,574,500 shares. Currently, 5.3% of the company’s stock are sold short. Based on an average daily trading volume, of 1,050,533 shares, the days-to-cover ratio is presently 6.2 days.
ACADIA Pharmaceuticals (NASDAQ ACAD) opened at 36.99 on Wednesday. ACADIA Pharmaceuticals has a one year low of $20.68 and a one year high of $41.20. The stock’s market cap is $4.53 billion. The company has a 50-day moving average price of $36.78 and a 200-day moving average price of $31.67.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.17. The business had revenue of $30.50 million for the quarter, compared to analyst estimates of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The firm’s revenue for the quarter was up 30400.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.63) earnings per share. On average, analysts anticipate that ACADIA Pharmaceuticals will post ($2.55) earnings per share for the current year.
In other news, EVP Glenn Baity sold 37,500 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $40.91, for a total value of $1,534,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 116,426 shares of company stock valued at $4,100,885. Insiders own 22.25% of the company’s stock.
Several institutional investors have recently bought and sold shares of ACAD. BlackRock Inc. increased its stake in shares of ACADIA Pharmaceuticals by 5,422.8% in the first quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock worth $186,791,000 after purchasing an additional 5,334,832 shares during the period. Janus Henderson Group PLC bought a new position in shares of ACADIA Pharmaceuticals in the second quarter worth about $102,152,000. Goldman Sachs Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 69.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,908,251 shares of the biopharmaceutical company’s stock worth $53,222,000 after purchasing an additional 785,352 shares during the period. Elliott Management Corp bought a new position in shares of ACADIA Pharmaceuticals in the first quarter worth about $26,726,000. Finally, Point72 Asset Management L.P. increased its stake in shares of ACADIA Pharmaceuticals by 57.6% in the first quarter. Point72 Asset Management L.P. now owns 1,931,200 shares of the biopharmaceutical company’s stock worth $66,395,000 after purchasing an additional 706,200 shares during the period. Institutional investors and hedge funds own 97.10% of the company’s stock.
ACAD has been the subject of a number of recent research reports. BidaskClub upgraded ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 21st. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Tuesday, July 11th. HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, August 9th. Cowen and Company reiterated an “outperform” rating and issued a $46.00 target price (up previously from $42.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 10th. Finally, ValuEngine upgraded ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.21.
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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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