The total number of short positions in ACADIA Pharmaceuticals Inc. saw a significant increase during November, bringing the total number of short positions to an all-time high (NASDAQ: ACAD). There were 9,040,000 shares available for a short sale the previous day, but as of November 30, there were 9,670,000 shares available for a short sale, marking a 7.0% increase from the total from the previous day. 6.1% of the company’s shares are currently being sold on the short market at this time. Based on an average daily volume of 1,390,000 shares traded in the market, the current short-interest ratio is 7.0 days. This number was calculated using the data.
On November 2, the most recent quarterly earnings report for ACADIA Pharmaceuticals, traded on the NASDAQ under the symbol ACAD, was made public. The earnings per share (EPS) for the quarter that the biopharmaceutical company reported came in at $0.17, which was $0.01 more than the average analyst’s projection of $0.18. At Acadia Pharmaceuticals, the company’s net margin and its return on equity both came in with negative numbers, with the former coming in at a negative 42.49% and the latter coming in at a negative 47.09%. Even though analysts predicted that the company would bring in $139.04 million in revenue during the quarter, the actual revenue was only $130.70 million. Compared to the previous year’s results for the same quarter, the company reported a loss in earnings per share equal to $0.09. The decline in the company’s revenue was 7% lower than the previous fiscal year. According to the projections made by equity analysts who research the company, Acadia Pharmaceuticals is expected to report a loss of 1.32 cents per share during the current fiscal year’s most recent period; the ACAD stock has received focus from a variety of different analysts. The report that Loop Capital published on November 1, a Tuesday, marked the beginning of the firm’s coverage of shares of ACADIA Pharmaceuticals. They suggested maintaining stock ownership while establishing a price objective for the company of $17.00 per share. Mizuho stated that they would be lowering their target price for Acadia Pharmaceuticals’ shares to $17.00 in a report published on October 13. In a report published on November 3, the Royal Bank of Canada lowered its “outperform” rating on shares of ACADIA Pharmaceuticals and decreased its target price from $22.00 down to $21.00.
The Royal Bank of Canada also dropped its target price on those shares from $22.00 down to $21.00. JPMorgan Chase & Co. lowered their price target on shares of ACADIA Pharmaceuticals from $19.00 to $17.00 in a report published on Monday, November 14. Despite this change, the firm continued to maintain an “overweight” rating on the stock. Goldman Sachs Group lowered their target price for ACADIA Pharmaceuticals shares from $15.00 to $12.00 and changed their rating on the stock from “neutral” to “sell” in a research note dated Thursday, November 3. The note was published on the company’s website. In addition, they changed the rating they had previously assigned to the stock from “neutral” to “sell.” The company was recommended to buy by eleven of the analysts polled, a recommendation to hold by eight, and a recommendation to sell by two of the equity research experts polled. According to Bloomberg, the consensus view regarding Acadia Pharmaceuticals is to “hold” the stock, and the price objective has been determined to be $21.90. This was determined after a discussion regarding the company’s future.
Acadia Pharmaceuticals was trading at a share price of $15.39 when the day’s trading session started on Friday. The price of ACADIA Pharmaceuticals has fallen as low as $12.24 over the past 52 weeks, while the stock has reached a 52-week high of $28.06. A price-to-earnings ratio of -11.40 and a beta value of 0.61 are both associated with the stock. The company’s total value, as represented by its market capitalization, is $2.49 billion. The stock’s moving average over the past 50 days is $15.44, and its moving average over the past 200 days is $16.01.
On Saturday, October 15, the company’s Chief Executive Officer, Stephen Davis, sold 2,804 of the company’s shares of stock. This is another piece of news about the company. The price of each share was determined to be $15.81 after the transaction, which brought the total amount paid for the shares to $44,331.24. After the deal’s completion, the CEO is now the proud owner of 79,009 shares, each of which is currently valued at $1,249,132.29. If you go to the website of the SEC, you should be able to find a legal file there that details the transaction in greater detail. On Saturday, October 15, the company’s Chief Executive Officer, Stephen Davis, sold 2,804 of the company’s shares of stock. This is another piece of news about the company. The price of each share was determined to be $15.81 after the transaction, which brought the total amount paid for the shares to $44,331.24. After the deal’s completion, the CEO is now the proud owner of 79,009 shares, each of which is currently valued at $1,249,132.29. If you go to the website of the SEC, you should be able to find a legal file there that details the transaction in greater detail. In addition, Srdjan R. Stankovic, the company’s president, sold a total of 1,847 shares of the company’s stock on November 21. The price of one share, which when sold brought in a total of $27,834.29, came to an average of $15.07 per share when it was all said and done. As a result of the sale being finalized, the president now has direct ownership of 61,234 business shares, which have an estimated value of $922,796.38. Disclosures that are related to the sale might be found in this section of the website. Business insiders collectively unloaded a total of 5,977,130 shares of company stock over the most recent fiscal quarter. Individuals employed by the company hold 28.4 percent of the company’s shares.
In recent months, various institutional investors and hedge funds have either increased or decreased the total amount of ACAD they are holding in their portfolios. During the second quarter, Parkwood LLC increased the proportion of Acadia Pharmaceuticals, which held an ownership stake, by 45.5%. Parkwood LLC now has 7,762 additional shares in the company after spending a total of $25,000 during the most recent quarter to purchase 24,834 additional shares in the biopharmaceutical company. During the third quarter of 2018, China Universal Asset Management Co. Ltd. made an investment in Acadia Pharmaceuticals, which resulted in the company receiving a contribution of $25,000. During the third quarter, Wipfli Financial Advisors LLC invested 33,000 dollars in Acadia Pharmaceuticals. This investment was given to Acadia Pharmaceuticals. During the second quarter, Exchange Traded Concepts LLC saw a rise of 328.6% in the amount of Acadia Pharmaceuticals stock that it owned as a percentage of the company. Exchange Traded Concepts LLC now owns 2,709 shares of the biopharmaceutical company’s stock, with a value of $38,000. This is a result of the company’s purchase of an additional 2,077 shares during the preceding quarter. The corporation completed the acquisition of these shares. During the third quarter of this year, IFP Advisors Inc. increased the percentage of Acadia Pharmaceuticals stock that it owns by 284.6%. This was done so that their competitors could not outdo them. IFP Advisors Inc. now has a total of 2,027 shares of the biopharmaceutical company’s stock, which are valued at $38,000. This is because the company made an additional purchase of 1,500 shares during the most recent quarter. At this point, institutions own 92.48 percent of the shares in the company.
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