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

Oppenheimer Asset Management Inc. grew its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 26.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,429 shares of the biopharmaceutical company’s stock after acquiring an additional 7,872 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $576,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its position in ACADIA Pharmaceuticals by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after purchasing an additional 655 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in ACADIA Pharmaceuticals by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 778 shares during the period. Covestor Ltd increased its position in shares of ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 840 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 1,066 shares in the last quarter. Finally, Park Place Capital Corp purchased a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth $25,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Cantor Fitzgerald cut their price objective on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Citigroup reduced their price target on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. UBS Group reduced their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.56.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,073 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the transaction, the insider now directly owns 19,863 shares in the company, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $172,453.79. Following the completion of the transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at $896,006.62. This trade represents a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock valued at $414,551 in the last ninety days. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 4.8 %

Shares of ACADIA Pharmaceuticals stock opened at $16.21 on Wednesday. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 20.78 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $32.59. The business’s 50 day simple moving average is $15.60 and its 200-day simple moving average is $15.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business posted ($0.40) earnings per share. Sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.72 earnings per share for the current 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 in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.