Jennison Associates LLC Makes New $1.29 Million Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Jennison Associates LLC acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 77,640 shares of the biopharmaceutical company’s stock, valued at approximately $1,290,000.

Several other institutional investors and hedge funds have also bought and sold shares of ACAD. Vanguard Group Inc. raised its stake in shares of ACADIA Pharmaceuticals by 6.1% in the second quarter. Vanguard Group Inc. now owns 11,518,317 shares of the biopharmaceutical company’s stock valued at $280,932,000 after purchasing an additional 657,142 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ACADIA Pharmaceuticals by 22.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 10,198,831 shares of the biopharmaceutical company’s stock valued at $248,749,000 after acquiring an additional 1,844,820 shares during the last quarter. BlackRock Inc. boosted its holdings in ACADIA Pharmaceuticals by 37.0% in the second quarter. BlackRock Inc. now owns 10,139,203 shares of the biopharmaceutical company’s stock valued at $247,295,000 after acquiring an additional 2,737,601 shares during the last quarter. State Street Corp boosted its holdings in ACADIA Pharmaceuticals by 23.7% during the second quarter. State Street Corp now owns 3,970,611 shares of the biopharmaceutical company’s stock worth $96,843,000 after buying an additional 761,973 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in ACADIA Pharmaceuticals by 85.4% during the second quarter. First Trust Advisors LP now owns 2,924,637 shares of the biopharmaceutical company’s stock worth $71,332,000 after buying an additional 1,347,516 shares during the last quarter. 89.15% of the stock is owned by institutional investors.

ACAD has been the topic of a number of research analyst reports. SVB Leerink reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, December 23rd. JMP Securities lifted their target price on ACADIA Pharmaceuticals from $39.00 to $42.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 21st. Citigroup raised ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Wednesday, January 5th. lifted their target price on ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, December 22nd. Finally, Oppenheimer lifted their target price on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Tuesday, December 7th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.37.

ACAD opened at $23.05 on Friday. The business has a fifty day simple moving average of $21.85 and a 200 day simple moving average of $20.03. ACADIA Pharmaceuticals Inc. has a 1 year low of $15.68 and a 1 year high of $54.73.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Monday, November 8th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.17. The business had revenue of $131.61 million during the quarter, compared to the consensus estimate of $127.77 million. ACADIA Pharmaceuticals had a negative return on equity of 32.74% and a negative net margin of 40.38%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.54) EPS. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post -1.03 EPS for the current fiscal year.

In other news, CEO Stephen Davis sold 2,963 shares of the company’s stock in a transaction on Monday, October 18th. The stock was sold at an average price of $17.41, for a total transaction of $51,585.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Srdjan R. Stankovic sold 2,803 shares of the company’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $19.01, for a total value of $53,285.03. The disclosure for this sale can be found here. Insiders sold a total of 7,104 shares of company stock valued at $128,165 over the last 90 days. 28.50% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Profile

ACADIA Pharmaceuticals, Inc operates as a biopharmaceutical company. It focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. The firm’s products include Nuplazid, which is used 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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