7 Best Halal Stocks To Buy Now (Debt Free)

2. ACADIA Pharmaceuticals Inc (NASDAQ:ACAD)

Number of Hedge Fund Holders: 33 

D/E Ratio: 0.13 

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is a biopharmaceutical company focused on developing and commercializing innovative medicines for central nervous system (CNS) disorders and rare diseases. The company’s flagship product, NUPLAZID, is approved for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis. ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) has an average 12-month price objective of $27.75, with a high of $39.00 and a low of $17.00, based on the projections of 16 Wall Street analysts over the last three months. Compared to the current price of $15.03, this average shows an 84.63% rise.

A total of 33 hedge funds reported holding shares of ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) in Q1 2024. Baker Bros. Advisors LP remained the largest hedge fund holder with 42.8 million shares worth $792.5 million, comprising 9.9% of their portfolio. EcoR1 Capital LLC held 5.9 million shares worth $110.7 million, accounting for 2.8% of their portfolio.

In Q1 2024, the company reported total revenues of $205.8 million, a 74% increase year-over-year which was driven by:

• NUPLAZID net product sales of $129.9 million, up 10% year-over-year
• DAYBUE net product sales of $75.9 million (no sales in Q1 2023 as it was recently launched)

Their Cash, cash equivalents, and investment securities were $470.5 million as of March 31, 2024.