Alyeska Investment Group L.P. Has $13.78 Million Holdings in ACADIA Pharmaceuticals Inc. (ACAD)
Alyeska Investment Group L.P. cut its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 18.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,919 shares of the biopharmaceutical company’s stock after selling 80,511 shares during the period. Alyeska Investment Group L.P. owned approximately 0.29% of ACADIA Pharmaceuticals worth $13,784,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Janus Henderson Group PLC acquired a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter worth $102,152,000. Goldman Sachs Group Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 69.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,908,251 shares of the biopharmaceutical company’s stock worth $53,222,000 after buying an additional 785,352 shares in the last quarter. First Trust Advisors LP increased its holdings in ACADIA Pharmaceuticals by 60.8% in the 2nd quarter. First Trust Advisors LP now owns 1,402,029 shares of the biopharmaceutical company’s stock worth $39,103,000 after purchasing an additional 530,103 shares in the last quarter. State Street Corp increased its holdings in ACADIA Pharmaceuticals by 15.8% in the 2nd quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock worth $104,551,000 after purchasing an additional 510,670 shares in the last quarter. Finally, Elliott Management Corp increased its holdings in ACADIA Pharmaceuticals by 61.7% in the 2nd quarter. Elliott Management Corp now owns 1,256,795 shares of the biopharmaceutical company’s stock worth $35,052,000 after purchasing an additional 479,413 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.
In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 37,500 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $40.91, for a total value of $1,534,125.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 22.25% of the company’s stock.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $35.58 million for the quarter, compared to analyst estimates of $32.03 million. During the same quarter in the previous year, the company posted ($0.61) EPS. The business’s revenue was up 571.3% on a year-over-year basis. research analysts expect that ACADIA Pharmaceuticals Inc. will post -2.41 EPS for the current fiscal year.
ACAD has been the subject of a number of recent research reports. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $48.00) on shares of ACADIA Pharmaceuticals in a report on Monday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $49.00 target price on shares of ACADIA Pharmaceuticals in a report on Sunday, September 17th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $45.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, October 6th. Cowen reaffirmed a “buy” rating and issued a $46.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, November 7th. Finally, ValuEngine cut ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. ACADIA Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $47.44.
ACADIA Pharmaceuticals 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).
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