Palo Alto Investors adds ACADIA Pharmaceuticals (ACAD) to its portfolio

ACADIA Pharmaceuticals (ACAD) : Palo Alto Investors added new position in ACADIA Pharmaceuticals during the most recent quarter end. The investment management firm now holds 485,100 shares of ACADIA Pharmaceuticals which is valued at $15,217,587 , the company said in a statement filed on Aug 15, 2016 with the SEC.ACADIA Pharmaceuticals makes up approximately 1.12% of Palo Alto Investors’s portfolio.

Other Hedge Funds, Including , Green Owl Capital Management sold out all of its stake in ACAD during the most recent quarter. The investment firm sold 10,001 shares of ACAD which is valued $313,731.Aperio Group reduced its stake in ACAD by selling 1,167 shares or 6.15% in the most recent quarter. The Hedge Fund company now holds 17,797 shares of ACAD which is valued at $558,292. Nicholas Investment Partners Lp added ACAD to its portfolio by purchasing 126,087 company shares during the most recent quarter which is valued at $3,955,349. ACADIA Pharmaceuticals makes up approx 0.34% of Nicholas Investment Partners Lp’s portfolio. Quadrant Capital Group added ACAD to its portfolio by purchasing 230 company shares during the most recent quarter which is valued at $8,519. ACADIA Pharmaceuticals makes up approx 0.01% of Quadrant Capital Group’s portfolio.Prospera Financial Services Inc reduced its stake in ACAD by selling 1,750 shares or 19.59% in the most recent quarter. The Hedge Fund company now holds 7,182 shares of ACAD which is valued at $268,894. ACADIA Pharmaceuticals makes up approx 0.05% of Prospera Financial Services Inc’s portfolio.

ACADIA Pharmaceuticals opened for trading at $31.39 and hit $32 on the upside on Wednesday, eventually ending the session at $32, with a gain of 1.81% or 0.57 points. The heightened volatility saw the trading volume jump to 1,981,319 shares. Company has a market cap of $3,648 M.

On the company’s financial health, ACADIA Pharmaceuticals reported $-0.63 EPS for the quarter, missing the analyst consensus estimate by $ -0.16 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.47. The company had revenue of $.97 million for the quarter, compared to analysts expectations of $.71 million. The company’s revenue was up 96900.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.39 EPS.

Many Wall Street Analysts have commented on ACADIA Pharmaceuticals. ACADIA Pharmaceuticals was Downgraded by BofA/Merrill to ” Neutral” on Jun 22, 2016.

ACADIA Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for the treatment of neurological and related central nervous system disorders. The Company’s drug candidate NUPLAZID (pimavanserin) is under development for the treatment of Parkinson’s disease psychosis Alzheimer’s disease psychosis Schizophrenia and Sleep disturbances. The Company is also conducting preclinical programs for alpha adrenergic agonists indicated for the treatment of chronic pain and muscarinic drugs for the treatment of glaucoma. NUPLAZID has an active ingredient pimavanserin is a selective serotonin inverse agonist (SSIA) preferentially targeting 5-HT2A receptors that was discovered by the Company. The Company in collaboration with Allergan has discovered and engaged in the development of small-molecule product candidates such as alpha adrenergic agonists and muscarinic receptors.

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