ACADIA Pharmaceuticals Inc. (ACAD) Shares Bought by Neuberger Berman Group LLC
Neuberger Berman Group LLC boosted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 88.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,664 shares of the biopharmaceutical company’s stock after buying an additional 29,326 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.05% of ACADIA Pharmaceuticals worth $1,748,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ACAD. BlackRock Inc. increased its holdings in ACADIA Pharmaceuticals by 5,422.8% in the first quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock valued at $186,791,000 after buying an additional 5,334,832 shares during the last quarter. Elliott Management Corp bought a new stake in ACADIA Pharmaceuticals in the first quarter valued at about $26,726,000. Point72 Asset Management L.P. increased its holdings in 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 valued at $66,395,000 after buying an additional 706,200 shares during the last quarter. First Trust Advisors LP increased its holdings in ACADIA Pharmaceuticals by 60.8% in the second quarter. First Trust Advisors LP now owns 1,402,029 shares of the biopharmaceutical company’s stock valued at $39,103,000 after buying an additional 530,103 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in ACADIA Pharmaceuticals by 134.7% in the first quarter. Ameriprise Financial Inc. now owns 882,722 shares of the biopharmaceutical company’s stock valued at $30,329,000 after buying an additional 506,605 shares during the last quarter. 97.11% of the stock is owned by hedge funds and other institutional investors.
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ACADIA Pharmaceuticals Inc. (NASDAQ ACAD) opened at 36.83 on Friday. ACADIA Pharmaceuticals Inc. has a one year low of $20.68 and a one year high of $40.83. The company has a 50-day moving average price of $32.93 and a 200-day moving average price of $31.59. The company’s market capitalization is $4.51 billion.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results 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 firm had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $20.02 million. ACADIA Pharmaceuticals had a negative net margin of 485.14% and a negative return on equity of 62.08%. The company’s revenue for the quarter was up 30400.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.63) earnings per share. Equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post ($2.55) EPS for the current year.
In other news, EVP Glenn Baity sold 38,097 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were 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 owns 109,253 shares of the company’s stock, valued at $3,277,590. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 80,829 shares of company stock valued at $2,623,850. Company insiders own 22.25% of the company’s stock.
Several brokerages recently weighed in on ACAD. ValuEngine raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Friday, August 11th. Piper Jaffray Companies set a $54.00 target price on ACADIA Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 9th. Cowen and Company reaffirmed an “outperform” rating and set a $46.00 target price (up from $42.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, August 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, August 9th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. ACADIA Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $43.23.
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 (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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