Commonwealth Equity Services LLC Grows Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Commonwealth Equity Services LLC lifted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 5.6% in the second quarter, HoldingsChannel.com reports. The firm owned 14,770 shares of the biopharmaceutical company’s stock after acquiring an additional 778 shares during the quarter. Commonwealth Equity Services LLC’s holdings in ACADIA Pharmaceuticals were worth $240,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. First Trust Advisors LP grew its holdings in shares of ACADIA Pharmaceuticals by 9.1% during the 4th quarter. First Trust Advisors LP now owns 1,777,307 shares of the biopharmaceutical company’s stock worth $55,647,000 after purchasing an additional 148,526 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in ACADIA Pharmaceuticals by 21.3% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,603,774 shares of the biopharmaceutical company’s stock valued at $29,654,000 after acquiring an additional 281,410 shares during the period. Norges Bank purchased a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $45,187,000. Frontier Capital Management Co. LLC boosted its holdings in ACADIA Pharmaceuticals by 8.7% during the 4th quarter. Frontier Capital Management Co. LLC now owns 823,586 shares of the biopharmaceutical company’s stock valued at $25,786,000 after acquiring an additional 65,973 shares during the period. Finally, Eventide Asset Management LLC purchased a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $25,342,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $15.32 on Thursday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.55 and a fifty-two week high of $32.59. The firm has a market capitalization of $2.54 billion, a PE ratio of -1,530.47, a price-to-earnings-growth ratio of 0.55 and a beta of 0.40. The stock’s 50-day simple moving average is $16.66 and its 200-day simple moving average is $16.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The company had revenue of $241.96 million for the quarter, compared to analyst estimates of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The firm’s revenue was up 46.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. On average, sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the transaction, the chief operating officer now owns 52,177 shares of the company’s stock, valued at $797,264.56. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the transaction, the chief executive officer now owns 186,555 shares of the company’s stock, valued at $2,850,560.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. The disclosure for this sale can be found here. Insiders have sold a total of 51,014 shares of company stock valued at $779,494 over the last quarter. Company insiders own 28.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup lowered their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Needham & Company LLC lowered their target price on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. UBS Group decreased their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada decreased their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.56.

ACADIA Pharmaceuticals Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.