Essex Investment Management Co. LLC Maintains Position in Acadia Pharmaceuticals Inc. (ACAD)
Essex Investment Management Co. LLC maintained its stake in Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,647 shares of the biopharmaceutical company’s stock at the end of the second quarter. Essex Investment Management Co. LLC’s holdings in Acadia Pharmaceuticals were worth $540,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. raised its stake in Acadia Pharmaceuticals by 120.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,400 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 2,400 shares in the last quarter. BlackRock Inc. raised its stake in Acadia Pharmaceuticals by 139.5% in the first quarter. BlackRock Inc. now owns 5,414 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 3,153 shares in the last quarter. IFP Advisors Inc raised its stake in Acadia Pharmaceuticals by 28.7% in the first quarter. IFP Advisors Inc now owns 5,468 shares of the biopharmaceutical company’s stock valued at $153,000 after buying an additional 1,219 shares in the last quarter. Bank of Montreal Can acquired a new stake in Acadia Pharmaceuticals during the second quarter valued at approximately $229,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in Acadia Pharmaceuticals during the first quarter valued at approximately $279,000. 92.10% of the stock is owned by institutional investors and hedge funds.
Shares of Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) traded down 4.93% on Thursday, hitting $27.39. 3,041,633 shares of the stock traded hands. The firm’s 50 day moving average is $32.80 and its 200 day moving average is $32.96. The firm’s market capitalization is $3.12 billion. Acadia Pharmaceuticals Inc. has a 52 week low of $16.64 and a 52 week high of $43.30.
Acadia Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.14. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.71 million. Acadia Pharmaceuticals had a negative net margin of 131,066.23% and a negative return on equity of 64.25%. The business’s revenue for the quarter was up 96900.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.39) EPS. On average, analysts expect that Acadia Pharmaceuticals Inc. will post ($2.14) EPS for the current fiscal year.
Several equities research analysts recently commented on the stock. Cowen and Company restated an “outperform” rating and issued a $42.00 price target on shares of Acadia Pharmaceuticals in a research report on Tuesday, July 26th. Vetr upgraded shares of Acadia Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $45.04 price target for the company in a research report on Monday, June 13th. Needham & Company LLC restated a “buy” rating and issued a $49.00 price target on shares of Acadia Pharmaceuticals in a research report on Friday, August 5th. Zacks Investment Research downgraded shares of Acadia Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $44.00 price target on shares of Acadia Pharmaceuticals in a research report on Tuesday, July 26th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $45.70.
In other news, Director Edmund Harrigan bought 1,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was acquired at an average price of $32.97 per share, with a total value of $32,970.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $32,970. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Glenn Baity sold 4,057 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $35.00, for a total transaction of $141,995.00. Following the sale, the executive vice president now directly owns 66,978 shares of the company’s stock, valued at approximately $2,344,230. The disclosure for this sale can be found here. Company insiders own 21.65% of the company’s stock.
About Acadia Pharmaceuticals
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system disorders. The Company’s lead drug candidate, NUPLAZID (pimavanserin), is under development for the treatment of Parkinson’s disease psychosis (PDP).
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