17,623 Shares in ACADIA Pharmaceuticals Inc. $ACAD Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 17,623 shares of the biopharmaceutical company’s stock, valued at approximately $446,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ACAD. Handelsbanken Fonder AB raised its position in shares of ACADIA Pharmaceuticals by 11.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 63,133 shares of the biopharmaceutical company’s stock valued at $1,597,000 after acquiring an additional 6,400 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 2.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 103,290 shares of the biopharmaceutical company’s stock valued at $2,613,000 after purchasing an additional 2,561 shares during the period. Gradient Investments LLC boosted its position in shares of ACADIA Pharmaceuticals by 13.3% in the 2nd quarter. Gradient Investments LLC now owns 32,738 shares of the biopharmaceutical company’s stock worth $828,000 after purchasing an additional 3,838 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of ACADIA Pharmaceuticals by 15.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 402 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth $1,090,000. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Price Performance

ACAD stock opened at $29.01 on Tuesday. The stock has a market capitalization of $5.00 billion, a P/E ratio of 13.07, a P/E/G ratio of 22.24 and a beta of 0.81. The business has a 50-day moving average of $25.29 and a 200-day moving average of $23.35. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $29.85.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The business had revenue of $308.00 million during the quarter, compared to the consensus estimate of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.ACADIA Pharmaceuticals’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. Equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.59 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the sale, the executive vice president directly owned 18,994 shares in the company, valued at $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Kihara sold 5,401 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the completion of the sale, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. This represents a 18.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 42,100 shares of company stock valued at $1,134,287 in the last ninety days. 26.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stifel Nicolaus upped their price objective on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Needham & Company LLC raised their target price on ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Citizens Jmp boosted their target price on ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. Finally, HC Wainwright reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $34.19.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.