Stevens Capital Management LP Trims Holdings in ACADIA Pharmaceuticals Inc. (ACAD)
Stevens Capital Management LP reduced its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,727 shares of the biopharmaceutical company’s stock after selling 5,169 shares during the quarter. Stevens Capital Management LP’s holdings in ACADIA Pharmaceuticals were worth $1,198,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently made changes to their positions in the company. NEXT Financial Group Inc purchased a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at $176,000. Russell Investments Group Ltd. boosted its position in shares of ACADIA Pharmaceuticals by 96.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,562 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 4,202 shares in the last quarter. Gofen & Glossberg LLC IL acquired a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth $211,000. Verition Fund Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth $163,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth $169,000. Institutional investors and hedge funds own 94.99% of the company’s stock.
In other news, Director Bros. Advisors Lp Baker purchased 11,764,705 shares of the stock in a transaction on Friday, November 30th. The stock was bought at an average price of $17.00 per share, with a total value of $199,999,985.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 23.28% of the company’s stock.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.50) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.08. ACADIA Pharmaceuticals had a negative return on equity of 88.18% and a negative net margin of 119.62%. The company had revenue of $58.31 million during the quarter, compared to analysts’ expectations of $56.31 million. During the same quarter in the previous year, the firm posted ($0.53) EPS. The firm’s revenue was up 63.9% compared to the same quarter last year. Research analysts expect that ACADIA Pharmaceuticals Inc. will post -2 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on ACAD. Cantor Fitzgerald reissued a “buy” rating and issued a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday. Zacks Investment Research raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research report on Monday, October 8th. BidaskClub cut ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Bank of America raised their price objective on ACADIA Pharmaceuticals from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Finally, Leerink Swann began coverage on ACADIA Pharmaceuticals in a research report on Monday, November 12th. They issued a “market perform” rating and a $21.00 price objective for the company. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.80.
About ACADIA Pharmaceuticals
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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