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

ACADIA Pharmaceuticals (ACAD) : Harvey Capital Management Inc reduced its stake in ACADIA Pharmaceuticals by 15.65% during the most recent quarter end. The investment management company now holds a total of 352,200 shares of ACADIA Pharmaceuticals which is valued at $12,872,910 after selling 65,325 shares in ACADIA Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.ACADIA Pharmaceuticals makes up approximately 6.15% of Harvey Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Ibm Retirement Fund added ACAD to its portfolio by purchasing 9,131 company shares during the most recent quarter which is valued at $333,738. ACADIA Pharmaceuticals makes up approx 0.01% of Ibm Retirement Fund’s portfolio.Handelsbanken Fonder Ab reduced its stake in ACAD by selling 7,000 shares or 16.67% in the most recent quarter. The Hedge Fund company now holds 35,000 shares of ACAD which is valued at $1,163,750. ACADIA Pharmaceuticals makes up approx 0.05% of Handelsbanken Fonder Ab’s portfolio.Hollencrest Securities boosted its stake in ACAD in the latest quarter, The investment management firm added 532 additional shares and now holds a total of 12,602 shares of ACADIA Pharmaceuticals which is valued at $436,281. ACADIA Pharmaceuticals makes up approx 0.07% of Hollencrest Securities’s portfolio. Kistler-tiffany Companies added ACAD to its portfolio by purchasing 149 company shares during the most recent quarter which is valued at $5,158.

ACADIA Pharmaceuticals closed down -0.7 points or -1.87% at $36.74 with 13,45,195 shares getting traded on Thursday. Post opening the session at $37.41, the shares hit an intraday low of $36.34 and an intraday high of $37.99 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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 May 5, 2016. Analyst had a consensus of $-0.42.Analysts expectations of $ .22.During the same quarter in the previous year, the company posted $-0.40 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 was Downgraded by Leerink Partners to ” Mkt Perform” on May 3, 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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