ACADIA Pharmaceuticals Inc. (ACAD) Shares Bought by Palo Alto Investors LP

Palo Alto Investors LP grew its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,650,780 shares of the biopharmaceutical company’s stock after buying an additional 9,750 shares during the period. ACADIA Pharmaceuticals accounts for 1.6% of Palo Alto Investors LP’s investment portfolio, making the stock its 19th largest holding. Palo Alto Investors LP owned about 1.32% of ACADIA Pharmaceuticals worth $37,093,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ACAD. BlackRock Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 5.0% in the 4th quarter. BlackRock Inc. now owns 6,710,697 shares of the biopharmaceutical company’s stock valued at $202,060,000 after buying an additional 321,950 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals by 25.8% in the 4th quarter. First Trust Advisors LP now owns 1,523,112 shares of the biopharmaceutical company’s stock valued at $45,861,000 after buying an additional 312,671 shares in the last quarter. Sectoral Asset Management Inc boosted its holdings in shares of ACADIA Pharmaceuticals by 37.6% in the 4th quarter. Sectoral Asset Management Inc now owns 1,131,722 shares of the biopharmaceutical company’s stock valued at $34,076,000 after buying an additional 309,330 shares in the last quarter. Tekla Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $7,404,000. Finally, UBS Group AG boosted its holdings in shares of ACADIA Pharmaceuticals by 103.3% in the 1st quarter. UBS Group AG now owns 439,087 shares of the biopharmaceutical company’s stock valued at $9,866,000 after buying an additional 223,065 shares in the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

Several analysts recently commented on ACAD shares. Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, May 1st. HC Wainwright reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, May 16th. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, May 16th. JPMorgan Chase & Co. set a $50.00 price target on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, April 10th. Finally, ValuEngine downgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $47.45.

Shares of ACADIA Pharmaceuticals stock opened at $16.18 on Thursday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -6.86 and a beta of 3.39. ACADIA Pharmaceuticals Inc. has a one year low of $14.51 and a one year high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Friday, May 4th. The biopharmaceutical company reported ($0.44) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.12. The company had revenue of $48.90 million during the quarter, compared to the consensus estimate of $47.06 million. ACADIA Pharmaceuticals had a negative net margin of 161.44% and a negative return on equity of 71.47%. ACADIA Pharmaceuticals’s quarterly revenue was up 219.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.72) EPS. sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post -1.71 earnings per share for the current 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.

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

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