Arizona State Retirement System Buys 655 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Arizona State Retirement System increased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 2.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,983 shares of the biopharmaceutical company’s stock after buying an additional 655 shares during the period. Arizona State Retirement System’s holdings in ACADIA Pharmaceuticals were worth $487,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ACAD. Norges Bank purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $45,187,000. Eventide Asset Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $25,342,000. M&G Plc purchased a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at $5,622,000. WCM Investment Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at $5,215,000. Finally, Jupiter Asset Management Ltd. raised its holdings in ACADIA Pharmaceuticals by 21.3% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,603,774 shares of the biopharmaceutical company’s stock valued at $29,654,000 after buying an additional 281,410 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ACADIA Pharmaceuticals

In related news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark C. Schneyer sold 9,733 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $148,720.24. Following the transaction, the chief financial officer now owns 43,735 shares in the company, valued at approximately $668,270.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,014 shares of company stock worth $779,494. 28.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on ACAD shares. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday. Royal Bank of Canada dropped their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. UBS Group lowered their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC decreased their target price on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley cut shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $28.00 to $20.00 in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $16.14 on Tuesday. The firm has a market capitalization of $2.68 billion, a PE ratio of -1,632.37, a P/E/G ratio of 0.53 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.55 and a 1-year high of $32.59. The business’s fifty day moving average price is $16.90 and its 200 day moving average price is $17.04.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company had revenue of $241.96 million for the quarter, compared to the consensus estimate of $235.95 million. During the same period last year, the business posted $0.01 EPS. The company’s quarterly revenue was up 46.4% compared to the same quarter last year. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.