Harvey Capital Management Inc Lowers stake in ACADIA Pharmaceuticals (ACAD)

ACADIA Pharmaceuticals (ACAD) : Harvey Capital Management Inc reduced its stake in ACADIA Pharmaceuticals by 3.65% during the most recent quarter end. The investment management company now holds a total of 417,525 shares of ACADIA Pharmaceuticals which is valued at $14,204,201 after selling 15,800 shares in ACADIA Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.ACADIA Pharmaceuticals makes up approximately 6.56% of Harvey Capital Management Inc’s portfolio.

ACADIA Pharmaceuticals opened for trading at $33.6 and hit $34.19 on the upside on Friday, eventually ending the session at $34.02, with a gain of 0.98% or 0.33 points. The heightened volatility saw the trading volume jump to 23,29,337 shares. Company has a market cap of $3,832 M.

Other Hedge Funds, Including , Rhenman Partners Asset Management Ab reduced its stake in ACAD by selling 70,000 shares or 58.33% in the most recent quarter. The Hedge Fund company now holds 50,000 shares of ACAD which is valued at $1,701,000. ACADIA Pharmaceuticals makes up approx 0.31% of Rhenman Partners Asset Management Ab’s portfolio. Berkshire Asset Managementpa sold out all of its stake in ACAD during the most recent quarter. The investment firm sold 18,459 shares of ACAD which is valued $618,746.Stonebridge Capital Management Inc boosted its stake in ACAD in the latest quarter, The investment management firm added 14,720 additional shares and now holds a total of 24,110 shares of ACADIA Pharmaceuticals which is valued at $808,167. ACADIA Pharmaceuticals makes up approx 0.34% of Stonebridge Capital Management Inc’s portfolio.Creative Planning boosted its stake in ACAD in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 5,702 shares of ACADIA Pharmaceuticals which is valued at $177,389.Hollencrest Securities reduced its stake in ACAD by selling 2,000 shares or 14.21% in the most recent quarter. The Hedge Fund company now holds 12,070 shares of ACAD which is valued at $375,498. ACADIA Pharmaceuticals makes up approx 0.07% of Hollencrest Securities’s portfolio.

On the company’s financial health, ACADIA Pharmaceuticals reported $-0.45 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Feb 29, 2016. Analyst had a consensus of $-0.42. The company had revenue of $.02 million for the quarter.The company’s revenue was down -63.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.28 EPS.

Many Wall Street Analysts have commented on ACADIA Pharmaceuticals. Company shares were Reiterated by Piper Jaffray on Mar 30, 2016 to “Overweight”, Firm has raised the Price Target to $ 44 from a previous price target of $39 .BofA/Merrill Initiated ACADIA Pharmaceuticals on Feb 8, 2016 to “Buy”, Price Target of the shares are set at $40.ACADIA Pharmaceuticals was Upgraded by Piper Jaffray to ” Overweight” on Jan 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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