BB&T Securities LLC Trims Stake in ACADIA Pharmaceuticals Inc. (ACAD)

BB&T Securities LLC reduced its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 50.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,363 shares of the biopharmaceutical company’s stock after selling 5,540 shares during the period. BB&T Securities LLC’s holdings in ACADIA Pharmaceuticals were worth $202,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ACAD. FMR LLC raised its stake in ACADIA Pharmaceuticals by 0.5% during the 2nd quarter. FMR LLC now owns 18,306,966 shares of the biopharmaceutical company’s stock valued at $510,582,000 after acquiring an additional 95,823 shares during the last quarter. Vanguard Group Inc. raised its stake in ACADIA Pharmaceuticals by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,604,605 shares of the biopharmaceutical company’s stock valued at $212,093,000 after acquiring an additional 134,820 shares during the last quarter. BlackRock Inc. raised its stake in ACADIA Pharmaceuticals by 2.9% during the 2nd quarter. BlackRock Inc. now owns 5,590,706 shares of the biopharmaceutical company’s stock valued at $155,925,000 after acquiring an additional 157,497 shares during the last quarter. State Street Corp raised its stake in ACADIA Pharmaceuticals by 15.8% during the 2nd quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock valued at $104,551,000 after acquiring an additional 510,670 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in ACADIA Pharmaceuticals during the 2nd quarter valued at approximately $102,152,000. 94.03% of the stock is owned by institutional investors and hedge funds.

Several analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, November 8th. J P Morgan Chase & Co set a $50.00 price objective on ACADIA Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, October 5th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $61.00 price objective (up from $54.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 5th. JMP Securities upped their price objective on ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, October 5th. Finally, ValuEngine raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. ACADIA Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $47.44.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) opened at $29.94 on Thursday. ACADIA Pharmaceuticals Inc. has a 52-week low of $24.31 and a 52-week high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative return on equity of 67.68% and a negative net margin of 320.71%. The company had revenue of $35.58 million for the quarter, compared to analysts’ expectations of $32.03 million. During the same quarter in the previous year, the firm posted ($0.61) EPS. The firm’s quarterly revenue was up 571.3% on a year-over-year basis. sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post -2.41 EPS for the current year.

In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $40.91, for a total transaction of $1,534,125.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 22.25% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “BB&T Securities LLC Trims Stake in ACADIA Pharmaceuticals Inc. (ACAD)” was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://sportsperspectives.com/2017/12/14/bbt-securities-llc-trims-stake-in-acadia-pharmaceuticals-inc-acad.html.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

Want to see what other hedge funds are holding ACAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD).

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

Receive News & Ratings for ACADIA Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply