United Services Automobile Association Boosts Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

United Services Automobile Association lifted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 27.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,377 shares of the biopharmaceutical company’s stock after purchasing an additional 4,114 shares during the period. United Services Automobile Association’s holdings in ACADIA Pharmaceuticals were worth $313,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of ACADIA Pharmaceuticals by 6.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 440,808 shares of the biopharmaceutical company’s stock worth $6,731,000 after acquiring an additional 25,768 shares during the period. Russell Investments Group Ltd. lifted its position in shares of ACADIA Pharmaceuticals by 96.4% during the third 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. Comerica Bank acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter worth $1,018,000. SG Americas Securities LLC increased its stake in shares of ACADIA Pharmaceuticals by 47.5% in the third quarter. SG Americas Securities LLC now owns 13,971 shares of the biopharmaceutical company’s stock worth $290,000 after buying an additional 4,498 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of ACADIA Pharmaceuticals by 0.5% in the third quarter. BlackRock Inc. now owns 9,786,905 shares of the biopharmaceutical company’s stock worth $203,175,000 after buying an additional 51,804 shares during the last quarter. Institutional investors own 96.93% of the company’s stock.

Several brokerages have recently issued reports on ACAD. Cantor Fitzgerald reissued a “buy” rating and set a $30.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday. Piper Jaffray Companies upped their target price on ACADIA Pharmaceuticals to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, February 28th. Zacks Investment Research lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, January 31st. BidaskClub cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, Canaccord Genuity lifted their target price on ACADIA Pharmaceuticals from $23.00 to $27.00 and gave the company an “in-line” rating in a research report on Wednesday, February 27th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $31.91.

Shares of ACAD traded up $0.72 during trading hours on Friday, hitting $25.17. The company had a trading volume of 935,882 shares, compared to its average volume of 1,490,650. The company has a market cap of $3.62 billion, a P/E ratio of -12.97 and a beta of 3.29. ACADIA Pharmaceuticals Inc. has a 52-week low of $12.77 and a 52-week high of $28.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, February 26th. The biopharmaceutical company reported ($0.50) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.05. The firm had revenue of $59.57 million for the quarter, compared to the consensus estimate of $59.46 million. ACADIA Pharmaceuticals had a negative return on equity of 77.14% and a negative net margin of 109.56%. The company’s quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.55) earnings per share. Analysts expect that ACADIA Pharmaceuticals Inc. will post -1.87 earnings per share for the current year.

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ACADIA Pharmaceuticals Company 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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