ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) by 8.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 18,837 shares of the biopharmaceutical company’s stock after purchasing an additional 1,478 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC boosted its position in ACADIA Pharmaceuticals by 19.4% during the 4th quarter. Lazard Asset Management LLC now owns 3,115 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 506 shares during the period. Nisa Investment Advisors LLC purchased a new stake in ACADIA Pharmaceuticals during the 1st quarter worth $152,000. WMS Partners LLC purchased a new stake in ACADIA Pharmaceuticals during the 1st quarter worth $206,000. Kestra Advisory Services LLC purchased a new stake in ACADIA Pharmaceuticals during the 1st quarter worth $208,000. Finally, Aaron Wealth Advisors LLC purchased a new stake in ACADIA Pharmaceuticals during the 1st quarter worth $388,000. 92.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cantor Fitzgerald decreased their price target on shares of ACADIA Pharmaceuticals from $37.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, June 21st. Royal Bank of Canada decreased their price target on shares of ACADIA Pharmaceuticals from $26.00 to $21.00 and set an “outperform” rating for the company in a research report on Tuesday, August 9th. Canaccord Genuity Group decreased their price objective on shares of ACADIA Pharmaceuticals from $31.00 to $20.00 in a research report on Wednesday, June 22nd. JPMorgan Chase & Co. cut shares of ACADIA Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research report on Tuesday, June 21st. Finally, HC Wainwright upped their price objective on shares of ACADIA Pharmaceuticals from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $22.72.

ACADIA Pharmaceuticals Trading Down 0.8 %

Shares of NASDAQ:ACAD opened at $16.73 on Monday. The firm’s 50 day moving average is $15.61 and its two-hundred day moving average is $19.31. ACADIA Pharmaceuticals Inc. has a 52 week low of $12.24 and a 52 week high of $28.06. The firm has a market capitalization of $2.71 billion, a P/E ratio of -13.17 and a beta of 0.71.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.04. ACADIA Pharmaceuticals had a negative net margin of 39.93% and a negative return on equity of 41.18%. The company had revenue of $134.56 million for the quarter, compared to analyst estimates of $130.06 million. During the same quarter last year, the business earned ($0.27) earnings per share. ACADIA Pharmaceuticals’s revenue was up 16.8% compared to the same quarter last year. Analysts predict that ACADIA Pharmaceuticals Inc. will post -1.3 EPS for the current year.

About ACADIA Pharmaceuticals

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

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