New York State Common Retirement Fund Grows Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

New York State Common Retirement Fund raised its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,374 shares of the biopharmaceutical company’s stock after purchasing an additional 6,310 shares during the quarter. New York State Common Retirement Fund’s holdings in ACADIA Pharmaceuticals were worth $943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Creative Planning increased its position in shares of ACADIA Pharmaceuticals by 71.4% in the 3rd quarter. Creative Planning now owns 25,061 shares of the biopharmaceutical company’s stock valued at $385,000 after acquiring an additional 10,441 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in ACADIA Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 1,066 shares during the last quarter. US Bancorp DE increased its holdings in shares of ACADIA Pharmaceuticals by 2,084.0% in the third quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock valued at $507,000 after purchasing an additional 31,426 shares during the period. Principal Financial Group Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 67.8% in the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock valued at $1,992,000 after purchasing an additional 52,340 shares during the period. Finally, Atria Investments Inc raised its stake in shares of ACADIA Pharmaceuticals by 10.8% in the third quarter. Atria Investments Inc now owns 24,437 shares of the biopharmaceutical company’s stock worth $376,000 after purchasing an additional 2,384 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ACAD. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective on the stock. StockNews.com cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $24.00.

ACADIA Pharmaceuticals Trading Down 7.3 %

Shares of ACAD stock opened at $18.16 on Tuesday. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $24.27. The business’s 50 day moving average is $18.42 and its two-hundred day moving average is $16.86. The company has a market capitalization of $3.02 billion, a P/E ratio of 23.28 and a beta of 0.37.

ACADIA Pharmaceuticals 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.