Mutual of America Capital Management LLC Invests $2.21 Million in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Mutual of America Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 70,470 shares of the biopharmaceutical company’s stock, valued at approximately $2,206,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACAD. China Universal Asset Management Co. Ltd. increased its position in shares of ACADIA Pharmaceuticals by 97.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 2,070 shares during the last quarter. State of Wyoming acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $92,000. Lazard Asset Management LLC increased its position in shares of ACADIA Pharmaceuticals by 35.8% during the 2nd quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 1,088 shares during the last quarter. Point72 Hong Kong Ltd grew its position in ACADIA Pharmaceuticals by 664.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 6,003 shares of the biopharmaceutical company’s stock valued at $145,000 after acquiring an additional 5,218 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at about $166,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on ACAD. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. dropped their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Mizuho downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the company from $39.00 to $25.00 in a research report on Tuesday, March 12th. Finally, Oppenheimer reaffirmed a “market perform” rating and issued a $25.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $35.82.

ACADIA Pharmaceuticals Stock Down 1.5 %

ACAD stock opened at $16.82 on Friday. The business has a 50 day moving average price of $20.84 and a 200 day moving average price of $23.74. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -44.26 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). The business had revenue of $231.04 million for the quarter, compared to analysts’ expectations of $223.79 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. ACADIA Pharmaceuticals’s revenue for the quarter was up 69.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.26) EPS. As a group, sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $31,987.30. Following the completion of the sale, the insider now owns 13,100 shares in the company, valued at $234,097. The sale was disclosed in a document filed with the SEC, which is available through this link. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 5,140 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $92,006.00. Following the completion of the sale, the chief operating officer now owns 36,340 shares in the company, valued at $650,486. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James Kihara sold 1,790 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $31,987.30. Following the completion of the transaction, the insider now directly owns 13,100 shares in the company, valued at approximately $234,097. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,383 shares of company stock worth $1,291,362. 27.50% of the stock is owned by insiders.

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.