OppenheimerFunds Inc. Raises Position in ACADIA Pharmaceuticals Inc. (ACAD)
OppenheimerFunds Inc. boosted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,458,376 shares of the biopharmaceutical company’s stock after buying an additional 112,430 shares during the quarter. OppenheimerFunds Inc.’s holdings in ACADIA Pharmaceuticals were worth $68,080,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Point72 Asia Hong Kong Ltd increased its holdings in ACADIA Pharmaceuticals by 822.9% during the first quarter. Point72 Asia Hong Kong Ltd now owns 4,439 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 3,958 shares during the period. NumerixS Investment Technologies Inc increased its holdings in ACADIA Pharmaceuticals by 70.9% during the second quarter. NumerixS Investment Technologies Inc now owns 13,500 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 5,600 shares during the period. Stonebridge Capital Management Inc. purchased a new position in ACADIA Pharmaceuticals during the second quarter valued at approximately $213,000. Cim Investment Mangement Inc. purchased a new position in ACADIA Pharmaceuticals during the second quarter valued at approximately $227,000. Finally, Neville Rodie & Shaw Inc. purchased a new position in ACADIA Pharmaceuticals during the second quarter valued at approximately $229,000. 92.96% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on ACAD. BidaskClub raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, May 16th. HC Wainwright reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, May 16th. JPMorgan Chase & Co. set a $50.00 price target on shares of ACADIA Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, July 1st. Zacks Investment Research lowered shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, Piper Jaffray Companies lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $38.38.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.06). The company had revenue of $57.06 million for the quarter, compared to analysts’ expectations of $58.63 million. ACADIA Pharmaceuticals had a negative net margin of 135.99% and a negative return on equity of 78.56%. ACADIA Pharmaceuticals’s quarterly revenue was up 87.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.55) earnings per share. analysts predict that ACADIA Pharmaceuticals Inc. will post -2.1 EPS for the current fiscal year.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.
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