BNP Paribas Arbitrage SA lifted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 53.0% in the 2nd quarter, Holdings Channel reports. The fund owned 40,796 shares of the biopharmaceutical company’s stock after acquiring an additional 14,138 shares during the period. BNP Paribas Arbitrage SA’s holdings in ACADIA Pharmaceuticals were worth $623,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd lifted its holdings in shares of ACADIA Pharmaceuticals by 822.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,439 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 3,958 shares during the last quarter. Stonebridge Capital Management Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth about $213,000. Neville Rodie & Shaw Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth about $229,000. Cubist Systematic Strategies LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 104.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,562 shares of the biopharmaceutical company’s stock worth $237,000 after acquiring an additional 5,396 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter worth about $314,000. Hedge funds and other institutional investors own 97.45% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, April 19th. Zacks Investment Research lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. HC Wainwright restated a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, May 16th. JPMorgan Chase & Co. set a $50.00 target price on shares of ACADIA Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, July 1st. Finally, Piper Jaffray Companies lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $19.00 target price for the company. in a report on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. ACADIA Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $39.50.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.06). The company had revenue of $57.06 million during the quarter, compared to analysts’ expectations of $58.63 million. ACADIA Pharmaceuticals had a negative return on equity of 78.56% and a negative net margin of 135.99%. The company’s quarterly revenue was up 87.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.55) EPS. analysts forecast that ACADIA Pharmaceuticals Inc. will post -1.95 earnings per share for the current fiscal year.
About ACADIA Pharmaceuticals
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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