ACADIA Pharmaceuticals (ACAD) Sees Large Volume Increase
Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) saw an uptick in trading volume on Thursday . 15,046,411 shares traded hands during mid-day trading, an increase of 443% from the previous session’s volume of 2,768,495 shares.The stock last traded at $19.11 and had previously closed at $15.10.
Several brokerages have commented on ACAD. ValuEngine upgraded ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday. Piper Jaffray Companies began coverage on ACADIA Pharmaceuticals in a research note on Friday. They issued a “positive” rating for the company. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Cantor Fitzgerald set a $25.00 target price on ACADIA Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday. Finally, BidaskClub downgraded ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.00.
The stock has a market cap of $2.39 billion, a PE ratio of -8.55 and a beta of 3.64.
Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning boosted its position in shares of ACADIA Pharmaceuticals by 16.6% during the 2nd quarter. Creative Planning now owns 84,607 shares of the biopharmaceutical company’s stock valued at $1,292,000 after acquiring an additional 12,073 shares during the last quarter. UBS Group AG lifted its position in ACADIA Pharmaceuticals by 103.3% in the 1st quarter. UBS Group AG now owns 439,087 shares of the biopharmaceutical company’s stock worth $9,866,000 after buying an additional 223,065 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in ACADIA Pharmaceuticals in the 1st quarter worth approximately $314,000. ING Groep NV bought a new stake in ACADIA Pharmaceuticals in the 2nd quarter worth approximately $6,966,000. Finally, Millennium Management LLC lifted its position in ACADIA Pharmaceuticals by 662.1% in the 1st quarter. Millennium Management LLC now owns 661,358 shares of the biopharmaceutical company’s stock worth $14,861,000 after buying an additional 574,577 shares during the last quarter. Hedge funds and other institutional investors own 92.94% of the company’s stock.
ACADIA Pharmaceuticals Company Profile (NASDAQ:ACAD)
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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