Quarry LP Purchases 2,055 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Quarry LP grew its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 34.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,055 shares of the biopharmaceutical company’s stock after acquiring an additional 2,055 shares during the quarter. Quarry LP’s holdings in ACADIA Pharmaceuticals were worth $131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Covestor Ltd increased its position in shares of ACADIA Pharmaceuticals by 70.5% during 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 during the last quarter. Headlands Technologies LLC bought a new position in shares of ACADIA Pharmaceuticals during the 1st quarter valued at approximately $48,000. Acadian Asset Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at approximately $111,000. Shell Asset Management Co. increased its position in shares of ACADIA Pharmaceuticals by 65.7% during the 1st quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock valued at $136,000 after purchasing an additional 2,909 shares during the last quarter. Finally, DNB Asset Management AS bought a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at approximately $165,000. Institutional investors own 96.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ACAD. Citigroup cut their price objective 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. StockNews.com raised ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. Needham & Company LLC cut 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. Morgan Stanley downgraded ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. Finally, UBS Group cut their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.56.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was 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 of the company’s stock, valued at $797,264.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at $797,264.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief executive officer now owns 186,555 shares of the company’s stock, valued at $2,850,560.40. The disclosure for this sale can be found here. Insiders sold 51,014 shares of company stock worth $779,494 in the last three months. 28.30% of the stock is owned by insiders.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $15.30 on Wednesday. The stock has a market capitalization of $2.53 billion, a P/E ratio of -1,530.00, a price-to-earnings-growth ratio of 0.55 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. The business has a fifty day moving average price of $16.52 and a 200 day moving average price of $16.54.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $241.96 million during the quarter, compared to analysts’ expectations of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The firm’s quarterly revenue was up 46.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 EPS. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.52 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 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.