Hennion & Walsh Asset Management Inc. Has $1.67 Million Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Hennion & Walsh Asset Management Inc. trimmed its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 28.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 102,477 shares of the biopharmaceutical company’s stock after selling 40,521 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.06% of ACADIA Pharmaceuticals worth $1,665,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Covestor Ltd raised its stake in shares of ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares during the period. Quest Partners LLC acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $39,000. Headlands Technologies LLC bought a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $48,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $100,000. Finally, Shell Asset Management Co. lifted its position in shares of ACADIA Pharmaceuticals by 65.7% in the first quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 2,909 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ACAD. Mizuho decreased their price objective on ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Oppenheimer reaffirmed a “market perform” rating and set a $19.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, May 6th. Bank of America cut their price objective on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Morgan Stanley downgraded ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $28.00 to $20.00 in a report on Wednesday, August 7th. Finally, UBS Group cut their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD traded up $0.24 during mid-day trading on Monday, reaching $15.64. The company had a trading volume of 482,392 shares, compared to its average volume of 1,807,184. ACADIA Pharmaceuticals Inc. has a one year low of $14.55 and a one year high of $32.59. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -1,540.00 and a beta of 0.38. The business’s 50-day simple moving average is $16.66 and its 200 day simple moving average is $18.36.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. The company had revenue of $241.96 million for the quarter, compared to analysts’ expectations of $235.95 million. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The business’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share. On average, sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.58 EPS for the current year.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.