ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stake Raised by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 25.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,902 shares of the biopharmaceutical company’s stock after purchasing an additional 3,378 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of ACADIA Pharmaceuticals by 33.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 2,198 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 553 shares in the last quarter. CWM LLC increased its holdings in shares of ACADIA Pharmaceuticals by 7,783.3% in the first quarter. CWM LLC now owns 2,365 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 2,335 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of ACADIA Pharmaceuticals by 169.0% in the first quarter. Nisa Investment Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock valued at $59,000 after buying an additional 1,960 shares in the last quarter. State of Wyoming bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $92,000. Finally, Gibson Wealth Advisors LLC increased its holdings in shares of ACADIA Pharmaceuticals by 6,200.0% in the fourth quarter. Gibson Wealth Advisors LLC now owns 6,300 shares of the biopharmaceutical company’s stock valued at $98,000 after buying an additional 6,200 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ACAD shares. StockNews.com cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Bank of America lifted their price objective on shares of ACADIA Pharmaceuticals from $26.00 to $29.00 in a research report on Thursday, June 15th. Oppenheimer reiterated a “market perform” rating and set a $25.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 3rd. JMP Securities lifted their price objective on shares of ACADIA Pharmaceuticals from $31.00 to $39.00 and gave the stock a “market outperform” rating in a research report on Friday, July 14th. Finally, Citigroup lifted their price objective on shares of ACADIA Pharmaceuticals from $21.60 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Hold” and an average price target of $31.81.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 100,000 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $30.04, for a total transaction of $3,004,000.00. Following the completion of the transaction, the chief executive officer now owns 36,695 shares of the company’s stock, valued at approximately $1,102,317.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider James Kihara sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $24.15, for a total transaction of $48,300.00. Following the completion of the transaction, the insider now owns 9,144 shares of the company’s stock, valued at $220,827.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen Davis sold 100,000 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $30.04, for a total transaction of $3,004,000.00. Following the completion of the sale, the chief executive officer now directly owns 36,695 shares in the company, valued at approximately $1,102,317.80. The disclosure for this sale can be found here. Insiders sold a total of 133,972 shares of company stock valued at $3,891,034 in the last quarter. Insiders own 27.50% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 2.8 %

Shares of NASDAQ:ACAD opened at $27.09 on Wednesday. The stock has a market capitalization of $4.44 billion, a PE ratio of -39.26 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.73 and a 1 year high of $33.99. The firm has a fifty day moving average price of $27.42 and a 200 day moving average price of $23.25.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.13. The firm had revenue of $165.20 million during the quarter, compared to analyst estimates of $163.86 million. ACADIA Pharmaceuticals had a negative net margin of 20.11% and a negative return on equity of 27.77%. The business’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) EPS. On average, sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post -0.41 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Company 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. It offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.