Fosun International Ltd acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 209,000 shares of the biopharmaceutical company’s stock, valued at approximately $4,558,000. Fosun International Ltd owned 0.17% of ACADIA Pharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Verition Fund Management LLC bought a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $163,000. Centaurus Financial Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $169,000. NEXT Financial Group Inc bought a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $176,000. Russell Investments Group Ltd. boosted its position in shares of ACADIA Pharmaceuticals by 96.4% in the third quarter. Russell Investments Group Ltd. now owns 8,562 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 4,202 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $179,000. 97.12% of the stock is owned by institutional investors.

Shares of ACAD stock opened at $18.93 on Monday. The firm has a market capitalization of $2.37 billion, a P/E ratio of -8.02 and a beta of 3.35. ACADIA Pharmaceuticals Inc. has a one year low of $12.77 and a one year high of $32.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.08. The firm had revenue of $58.31 million during the quarter, compared to analysts’ expectations of $56.31 million. ACADIA Pharmaceuticals had a negative return on equity of 88.18% and a negative net margin of 119.62%. ACADIA Pharmaceuticals’s quarterly revenue was up 63.9% compared to the same quarter last year. During the same period last year, the business earned ($0.53) earnings per share. On average, analysts predict that ACADIA Pharmaceuticals Inc. will post -2 EPS for the current year.

In related news, Director Bros. Advisors Lp Baker acquired 1,210,776 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was purchased at an average cost of $18.70 per share, for a total transaction of $22,641,511.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 23.28% of the company’s stock.

Several research analysts recently commented on the company. Cantor Fitzgerald assumed coverage on ACADIA Pharmaceuticals in a research report on Thursday, August 23rd. They issued an “overweight” rating and a $25.00 target price for the company. Piper Jaffray Companies raised ACADIA Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $25.00 target price for the company in a research report on Thursday, September 20th. Zacks Investment Research cut ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, September 10th. ValuEngine raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 22nd. Finally, BidaskClub raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, September 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $31.80.

COPYRIGHT VIOLATION NOTICE: “Fosun International Ltd Acquires New Stake in ACADIA Pharmaceuticals Inc. (ACAD)” was published by Daily Political and is the property of of Daily Political. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.dailypolitical.com/2018/11/19/fosun-international-ltd-acquires-new-stake-in-acadia-pharmaceuticals-inc-acad.html.

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.

Read More: How to use beta for portfolio diversification

Want to see what other hedge funds are holding ACAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD).

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

Receive News & Ratings for ACADIA Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.