Walleye Capital LLC Has $565,000 Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Walleye Capital LLC reduced its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) by 64.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 23,342 shares of the biopharmaceutical company’s stock after selling 41,433 shares during the period. Walleye Capital LLC’s holdings in ACADIA Pharmaceuticals were worth $565,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ACAD. Principal Financial Group Inc. raised its position in ACADIA Pharmaceuticals by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 40,349 shares of the biopharmaceutical company’s stock valued at $977,000 after purchasing an additional 884 shares during the last quarter. Personal CFO Solutions LLC increased its holdings in ACADIA Pharmaceuticals by 6.7% in the first quarter. Personal CFO Solutions LLC now owns 15,846 shares of the biopharmaceutical company’s stock valued at $384,000 after purchasing an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ACADIA Pharmaceuticals by 8.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,927 shares of the biopharmaceutical company’s stock valued at $434,000 after acquiring an additional 1,334 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in ACADIA Pharmaceuticals by 8.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 18,837 shares of the biopharmaceutical company’s stock worth $456,000 after purchasing an additional 1,478 shares during the period. Finally, Guggenheim Capital LLC lifted its holdings in ACADIA Pharmaceuticals by 16.6% during the first quarter. Guggenheim Capital LLC now owns 10,753 shares of the biopharmaceutical company’s stock worth $261,000 after acquiring an additional 1,533 shares in the last quarter. 92.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Canaccord Genuity Group reduced their price objective on ACADIA Pharmaceuticals from $31.00 to $20.00 in a research report on Wednesday, June 22nd. Cowen cut their price target on ACADIA Pharmaceuticals from $32.00 to $21.00 and set an “outperform” rating for the company in a report on Monday, August 8th. Morgan Stanley decreased their target price on ACADIA Pharmaceuticals from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 9th. Cowen lowered their price target on shares of ACADIA Pharmaceuticals from $32.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, August 8th. Finally, Oppenheimer dropped their price objective on ACADIA Pharmaceuticals from $23.00 to $19.00 and set a “market perform” rating for the company in a report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Hold” and an average target price of $22.72.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $17.07 on Thursday. ACADIA Pharmaceuticals Inc. has a one year low of $12.24 and a one year high of $28.06. The firm has a market capitalization of $2.76 billion, a PE ratio of -13.44 and a beta of 0.67. The company has a 50-day simple moving average of $16.27 and a two-hundred day simple moving average of $18.50.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.04. ACADIA Pharmaceuticals had a negative net margin of 39.93% and a negative return on equity of 41.18%. The company had revenue of $134.56 million during the quarter, compared to the consensus estimate of $130.06 million. During the same quarter last year, the firm earned ($0.27) earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts expect that ACADIA Pharmaceuticals Inc. will post -1.3 EPS for the current fiscal year.

About ACADIA Pharmaceuticals

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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.

Further Reading

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

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