Parametric Portfolio Associates LLC reduced its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 34.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,993 shares of the biopharmaceutical company’s stock after selling 22,450 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in ACADIA Pharmaceuticals were worth $1,199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Utah Retirement Systems grew its stake in ACADIA Pharmaceuticals by 1.1% during the second quarter. Utah Retirement Systems now owns 17,600 shares of the biopharmaceutical company’s stock worth $491,000 after buying an additional 200 shares during the period. Oppenheimer Asset Management Inc. grew its stake in ACADIA Pharmaceuticals by 10.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 468 shares during the period. Principal Financial Group Inc. grew its stake in ACADIA Pharmaceuticals by 3.6% during the second quarter. Principal Financial Group Inc. now owns 16,810 shares of the biopharmaceutical company’s stock worth $469,000 after buying an additional 579 shares during the period. Tocqueville Asset Management L.P. grew its stake in ACADIA Pharmaceuticals by 0.6% during the second quarter. Tocqueville Asset Management L.P. now owns 100,560 shares of the biopharmaceutical company’s stock worth $2,805,000 after buying an additional 610 shares during the period. Finally, Legal & General Group Plc grew its stake in ACADIA Pharmaceuticals by 2.0% during the second quarter. Legal & General Group Plc now owns 33,631 shares of the biopharmaceutical company’s stock worth $938,000 after buying an additional 663 shares during the period. Institutional investors own 95.27% of the company’s stock.

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Several research firms have issued reports on ACAD. Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, November 8th. ValuEngine downgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday. Piper Jaffray Companies set a $54.00 target price on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, J P Morgan Chase & Co set a $50.00 target price on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $47.44.

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) opened at $26.84 on Thursday. ACADIA Pharmaceuticals Inc. has a twelve month low of $24.31 and a twelve month high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.10. The firm had revenue of $35.58 million for the quarter, compared to analysts’ expectations of $32.03 million. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. The firm’s quarterly revenue was up 571.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.61) earnings per share. equities analysts expect that ACADIA Pharmaceuticals Inc. will post -2.42 earnings per share for the current fiscal year.

In related news, EVP Glenn Baity sold 37,500 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $40.91, for a total value of $1,534,125.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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).

Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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