Tocqueville Asset Management L.P. cut its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 59.4% during the fourth quarter, HoldingsChannel reports. The fund owned 13,625 shares of the biopharmaceutical company’s stock after selling 19,900 shares during the period. Tocqueville Asset Management L.P.’s holdings in ACADIA Pharmaceuticals were worth $583,000 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 stock. Price T Rowe Associates Inc. MD lifted its holdings in ACADIA Pharmaceuticals by 2.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,537,393 shares of the biopharmaceutical company’s stock valued at $201,475,000 after acquiring an additional 179,737 shares during the last quarter. Invesco Ltd. lifted its stake in ACADIA Pharmaceuticals by 950.3% during the second quarter. Invesco Ltd. now owns 4,015,482 shares of the biopharmaceutical company’s stock worth $107,334,000 after purchasing an additional 3,633,171 shares in the last quarter. Great Point Partners LLC lifted its stake in ACADIA Pharmaceuticals by 46.0% during the third quarter. Great Point Partners LLC now owns 2,190,742 shares of the biopharmaceutical company’s stock worth $78,845,000 after purchasing an additional 690,742 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in ACADIA Pharmaceuticals by 32.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,901,850 shares of the biopharmaceutical company’s stock worth $50,836,000 after purchasing an additional 461,869 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in ACADIA Pharmaceuticals during the second quarter worth $42,444,000. Hedge funds and other institutional investors own 94.49% of the company’s stock.
ACAD has been the topic of a number of research reports. ValuEngine cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. HC Wainwright restated a “buy” rating and set a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, December 5th. Zacks Investment Research cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, December 31st. Cowen restated a “buy” rating and set a $66.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. ACADIA Pharmaceuticals has a consensus rating of “Buy” and an average price target of $52.25.
Shares of NASDAQ ACAD opened at $43.43 on Friday. The company has a current ratio of 10.96, a quick ratio of 10.89 and a debt-to-equity ratio of 0.01. ACADIA Pharmaceuticals Inc. has a 12-month low of $20.12 and a 12-month high of $53.70. The business’s fifty day simple moving average is $44.80 and its 200-day simple moving average is $37.33.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.11. The business had revenue of $94.59 million for the quarter, compared to analysts’ expectations of $88.49 million. ACADIA Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 82.48%. The company’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.50) earnings per share. On average, research analysts forecast that ACADIA Pharmaceuticals Inc. will post -1.62 earnings per share for the current fiscal year.
In other news, President Srdjan R. Stankovic sold 2,160 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.41, for a total value of $100,245.60. Following the sale, the president now directly owns 8,187 shares in the company, valued at $379,958.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elena Ridloff sold 36,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $49.66, for a total value of $1,787,760.00. Following the completion of the sale, the chief financial officer now owns 36,000 shares in the company, valued at $1,787,760. The disclosure for this sale can be found here. Over the last quarter, insiders sold 318,160 shares of company stock worth $15,583,232. Insiders own 29.40% of the company’s stock.
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.
Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?
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