BB&T Securities LLC increased its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 24.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,618 shares of the biopharmaceutical company’s stock after purchasing an additional 3,613 shares during the quarter. BB&T Securities LLC’s holdings in ACADIA Pharmaceuticals were worth $284,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in ACADIA Pharmaceuticals by 46.4% in the second quarter. BlackRock Inc. now owns 9,735,101 shares of the biopharmaceutical company’s stock valued at $148,654,000 after buying an additional 3,085,874 shares during the last quarter. OppenheimerFunds Inc. raised its stake in ACADIA Pharmaceuticals by 2.6% in the second quarter. OppenheimerFunds Inc. now owns 4,458,376 shares of the biopharmaceutical company’s stock valued at $68,080,000 after buying an additional 112,430 shares during the last quarter. First Trust Advisors LP raised its stake in ACADIA Pharmaceuticals by 47.7% in the second quarter. First Trust Advisors LP now owns 2,603,446 shares of the biopharmaceutical company’s stock valued at $39,755,000 after buying an additional 840,425 shares during the last quarter. Palo Alto Investors LP raised its stake in ACADIA Pharmaceuticals by 0.6% in the first quarter. Palo Alto Investors LP now owns 1,650,780 shares of the biopharmaceutical company’s stock valued at $37,093,000 after buying an additional 9,750 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in ACADIA Pharmaceuticals by 57.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 704,162 shares of the biopharmaceutical company’s stock valued at $10,753,000 after buying an additional 257,871 shares during the last quarter. Hedge funds and other institutional investors own 92.93% of the company’s stock.

Shares of ACAD stock opened at $21.41 on Wednesday. The stock has a market capitalization of $2.52 billion, a PE ratio of -9.07 and a beta of 3.65. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $12.77 and a fifty-two week high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.06). The firm had revenue of $57.06 million during the quarter, compared to analyst estimates of $58.63 million. ACADIA Pharmaceuticals had a negative net margin of 135.99% and a negative return on equity of 78.56%. The firm’s revenue for the quarter was up 87.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.55) earnings per share. sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post -2.1 EPS for the current fiscal year.

A number of research firms have commented on ACAD. Cantor Fitzgerald reiterated a “buy” rating and issued a $25.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, August 29th. BidaskClub upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday. JMP Securities decreased their price target on ACADIA Pharmaceuticals from $50.00 to $27.00 and set a “market outperform” rating for the company in a research note on Thursday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 9th. Finally, Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $38.00.

In other news, Director Bros. Advisors Lp Baker acquired 1,210,776 shares of the business’s stock in a transaction dated Thursday, September 20th. The shares were acquired at an average cost of $18.70 per share, with a total value of $22,641,511.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.28% of the stock is currently owned by corporate insiders.

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.

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

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