Garrison Bradford & Associates Inc. reduced its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 9.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 48,500 shares of the biopharmaceutical company’s stock after selling 5,000 shares during the quarter. ACADIA Pharmaceuticals comprises about 0.8% of Garrison Bradford & Associates Inc.’s holdings, making the stock its 23rd largest position. Garrison Bradford & Associates Inc.’s holdings in ACADIA Pharmaceuticals were worth $1,007,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of ACAD. First Trust Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals by 125.5% in the third quarter. First Trust Advisors LP now owns 5,870,693 shares of the biopharmaceutical company’s stock valued at $121,876,000 after acquiring an additional 3,267,247 shares during the period. BlackRock Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 46.4% in the second quarter. BlackRock Inc. now owns 9,735,101 shares of the biopharmaceutical company’s stock valued at $148,654,000 after acquiring an additional 3,085,874 shares during the period. Orbimed Advisors LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 28.2% in the second quarter. Orbimed Advisors LLC now owns 4,282,400 shares of the biopharmaceutical company’s stock valued at $65,392,000 after acquiring an additional 941,700 shares during the period. Northern Trust Corp boosted its holdings in shares of ACADIA Pharmaceuticals by 157.5% in the second quarter. Northern Trust Corp now owns 1,261,535 shares of the biopharmaceutical company’s stock valued at $19,264,000 after acquiring an additional 771,631 shares during the period. Finally, Peregrine Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $15,639,000. 96.01% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on ACAD shares. Zacks Investment Research raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating and set a $24.00 price objective for the company in a report on Monday, October 8th. Piper Jaffray Companies started coverage on ACADIA Pharmaceuticals in a report on Friday, September 21st. They issued a “positive” rating for the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Saturday. ValuEngine raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Finally, Cantor Fitzgerald set a $27.00 price objective on ACADIA Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, October 31st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $33.78.
ACADIA Pharmaceuticals stock opened at $22.73 on Monday. ACADIA Pharmaceuticals Inc. has a 12 month low of $12.77 and a 12 month high of $38.00. The company has a market cap of $2.84 billion, a PE ratio of -9.63 and a beta of 3.35.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.06). ACADIA Pharmaceuticals had a negative return on equity of 78.56% and a negative net margin of 135.99%. The company had revenue of $57.06 million for the quarter, compared to analysts’ expectations of $58.63 million. During the same quarter last year, the company earned ($0.55) EPS. ACADIA Pharmaceuticals’s revenue for the quarter was up 87.2% compared to the same quarter last year. As a group, research analysts forecast that ACADIA Pharmaceuticals Inc. will post -2.08 EPS for the current fiscal year.
In related news, Director Bros. Advisors Lp Baker purchased 1,210,776 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was acquired at an average price of $18.70 per share, for a total transaction of $22,641,511.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.28% of the stock is owned by corporate insiders.
ACADIA Pharmaceuticals Profile
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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