BB&T Securities LLC increased its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 19.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,928 shares of the biopharmaceutical company’s stock after purchasing an additional 1,778 shares during the period. BB&T Securities LLC’s holdings in ACADIA Pharmaceuticals were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACAD. Invesco Ltd. raised its holdings in shares of ACADIA Pharmaceuticals by 950.3% during the second quarter. Invesco Ltd. now owns 4,015,482 shares of the biopharmaceutical company’s stock valued at $107,334,000 after purchasing an additional 3,633,171 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of ACADIA Pharmaceuticals during the second quarter valued at approximately $42,444,000. Eagle Asset Management Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the second quarter valued at approximately $26,733,000. Carillon Tower Advisers Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the second quarter valued at approximately $19,122,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of 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 valued at $50,836,000 after purchasing an additional 461,869 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on ACAD. Canaccord Genuity raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $50.00 in a report on Tuesday, September 10th. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, November 1st. Royal Bank of Canada began coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, October 1st. They set an “outperform” rating and a $60.00 price objective for the company. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, November 6th. Finally, Bank of America set a $31.00 price objective on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $49.13.
Shares of NASDAQ ACAD opened at $46.41 on Thursday. The firm has a 50 day moving average of $40.55 and a 200 day moving average of $30.90. The company has a current ratio of 10.96, a quick ratio of 10.89 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of -23.92 and a beta of 2.82. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.01 and a 12-month high of $47.79.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results 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 company had revenue of $94.59 million during the quarter, compared to analyst estimates of $88.49 million. ACADIA Pharmaceuticals had a negative net margin of 82.48% and a negative return on equity of 50.15%. The firm’s quarterly revenue was up 62.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.50) earnings per share. Sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post -1.62 EPS for the current year.
ACADIA Pharmaceuticals Company 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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