LPL Financial LLC Buys 4,585 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

LPL Financial LLC raised its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,580 shares of the biopharmaceutical company’s stock after acquiring an additional 4,585 shares during the period. LPL Financial LLC owned approximately 0.09% of ACADIA Pharmaceuticals worth $3,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. increased its holdings in ACADIA Pharmaceuticals by 5.8% in the 1st quarter. BlackRock Inc. now owns 10,718,708 shares of the biopharmaceutical company’s stock valued at $287,799,000 after acquiring an additional 585,242 shares during the last quarter. First Trust Advisors LP increased its holdings in ACADIA Pharmaceuticals by 16.4% in the 1st quarter. First Trust Advisors LP now owns 4,815,776 shares of the biopharmaceutical company’s stock valued at $129,304,000 after acquiring an additional 677,051 shares during the last quarter. OppenheimerFunds Inc. increased its holdings in ACADIA Pharmaceuticals by 0.4% in the 1st quarter. OppenheimerFunds Inc. now owns 3,644,406 shares of the biopharmaceutical company’s stock valued at $97,852,000 after acquiring an additional 15,830 shares during the last quarter. Geode Capital Management LLC increased its holdings in ACADIA Pharmaceuticals by 16.7% in the 4th quarter. Geode Capital Management LLC now owns 1,244,939 shares of the biopharmaceutical company’s stock valued at $20,130,000 after acquiring an additional 177,701 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in ACADIA Pharmaceuticals by 45.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,174,763 shares of the biopharmaceutical company’s stock valued at $31,050,000 after acquiring an additional 367,547 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

ACAD has been the topic of a number of research reports. Canaccord Genuity upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their target price for the stock from $29.00 to $50.00 in a report on Tuesday. Piper Jaffray Companies boosted their target price on shares of ACADIA Pharmaceuticals from $35.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday. ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Raymond James boosted their target price on shares of ACADIA Pharmaceuticals from $40.00 to $43.00 and gave the stock a “strong-buy” rating in a report on Friday, May 31st. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $43.31.

In related news, Director James M. Daly sold 30,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $37.80, for a total transaction of $1,134,000.00. Following the transaction, the director now directly owns 30,000 shares in the company, valued at approximately $1,134,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Alejandro Miller sold 28,467 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $39.49, for a total transaction of $1,124,161.83. The disclosure for this sale can be found here. Insiders have sold a total of 63,112 shares of company stock worth $2,449,443 over the last quarter. 29.40% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals stock opened at $39.14 on Friday. The company’s 50-day moving average price is $28.11 and its 200-day moving average price is $26.40. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.51 and a twelve month high of $43.98. The company has a quick ratio of 6.79, a current ratio of 6.85 and a debt-to-equity ratio of 0.02. The company has a market cap of $5.61 billion, a PE ratio of -20.18 and a beta of 2.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.08. The company had revenue of $83.21 million for the quarter, compared to the consensus estimate of $72.50 million. ACADIA Pharmaceuticals had a negative net margin of 101.45% and a negative return on equity of 70.97%. The firm’s revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.51) EPS. As a group, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post -1.77 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals 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.

See Also: How are institutional investors different from individual investors?

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Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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