Emory University trimmed its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 16.3% during the first quarter, HoldingsChannel.com reports. The fund owned 102,586 shares of the biopharmaceutical company’s stock after selling 20,029 shares during the period. ACADIA Pharmaceuticals accounts for about 1.9% of Emory University’s investment portfolio, making the stock its 8th biggest position. Emory University’s holdings in ACADIA Pharmaceuticals were worth $2,754,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Capital Financial Planning LLC purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $25,000. Valeo Financial Advisors LLC purchased a new stake in ACADIA Pharmaceuticals during the 1st quarter worth approximately $27,000. Meeder Asset Management Inc. increased its stake in ACADIA Pharmaceuticals by 1,222.0% during the 4th quarter. Meeder Asset Management Inc. now owns 3,609 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 3,336 shares during the period. First Quadrant L P CA purchased a new stake in ACADIA Pharmaceuticals during the 1st quarter worth approximately $59,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $96,000. 93.35% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. HC Wainwright reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Friday, May 3rd. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. ValuEngine downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 27th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $30.18.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.05). The business had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.93 million. ACADIA Pharmaceuticals had a negative return on equity of 79.74% and a negative net margin of 116.10%. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.44) EPS. As a group, research analysts expect that ACADIA Pharmaceuticals Inc. will post -1.9 earnings per share for the current fiscal year.
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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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