Oppenheimer Asset Management Inc. Boosts Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Oppenheimer Asset Management Inc. lifted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 10.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,557 shares of the biopharmaceutical company’s stock after purchasing an additional 2,842 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ACADIA Pharmaceuticals were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Arizona State Retirement System increased its stake 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 buying an additional 655 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of ACADIA Pharmaceuticals by 5.6% in the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 778 shares during the last quarter. Swiss National Bank increased its position in shares of ACADIA Pharmaceuticals by 0.4% during the first quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock worth $3,894,000 after purchasing an additional 800 shares in the last quarter. Franklin Resources Inc. raised its stake in ACADIA Pharmaceuticals by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock valued at $1,578,000 after purchasing an additional 803 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $16.53 on Friday. The firm has a 50-day simple moving average of $16.84 and a two-hundred day simple moving average of $16.93. The stock has a market cap of $2.73 billion, a PE ratio of -1,653.00, a P/E/G ratio of 0.53 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.55 and a 1-year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The firm had revenue of $241.96 million during the quarter, compared to the consensus estimate of $235.95 million. During the same quarter last year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was up 46.4% on a year-over-year basis. As a group, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the transaction, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares in the company, valued at $2,850,560.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Brendan Teehan sold 9,534 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the sale, the chief operating officer now owns 52,177 shares in the company, valued at $797,264.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,014 shares of company stock valued at $779,494. 28.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group dropped their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Morgan Stanley cut shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. StockNews.com upgraded ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. Finally, Needham & Company LLC reduced their price objective on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $25.56.

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.