Strs Ohio Purchases 2,700 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Strs Ohio lifted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 6.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 47,100 shares of the biopharmaceutical company’s stock after buying an additional 2,700 shares during the quarter. Strs Ohio’s holdings in ACADIA Pharmaceuticals were worth $1,474,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ACAD. Vanguard Group Inc. raised its stake in ACADIA Pharmaceuticals by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 12,925,641 shares of the biopharmaceutical company’s stock worth $211,463,000 after purchasing an additional 525,048 shares in the last quarter. RTW Investments LP raised its stake in ACADIA Pharmaceuticals by 18.3% in the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after purchasing an additional 1,793,288 shares in the last quarter. BlackRock Inc. raised its stake in ACADIA Pharmaceuticals by 1.7% in the 2nd quarter. BlackRock Inc. now owns 10,039,501 shares of the biopharmaceutical company’s stock worth $240,446,000 after purchasing an additional 170,370 shares in the last quarter. State Street Corp raised its stake in ACADIA Pharmaceuticals by 2.8% in the 3rd quarter. State Street Corp now owns 6,778,871 shares of the biopharmaceutical company’s stock worth $110,902,000 after purchasing an additional 184,921 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in ACADIA Pharmaceuticals by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,550,906 shares of the biopharmaceutical company’s stock worth $85,649,000 after purchasing an additional 271,652 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ACAD shares. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 9th. Morgan Stanley dropped their target price on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 13th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Royal Bank of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 26,574 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $474,877.38. Following the completion of the transaction, the chief executive officer now owns 144,267 shares of the company’s stock, valued at approximately $2,578,051.29. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 26,574 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $474,877.38. Following the transaction, the chief executive officer now owns 144,267 shares in the company, valued at approximately $2,578,051.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brendan Teehan sold 5,140 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $92,006.00. Following the transaction, the chief operating officer now owns 36,340 shares in the company, valued at approximately $650,486. The disclosure for this sale can be found here. Insiders sold a total of 69,383 shares of company stock valued at $1,291,362 in the last quarter. 27.50% of the stock is owned by insiders.

ACADIA Pharmaceuticals Stock Down 1.5 %

NASDAQ:ACAD opened at $16.82 on Monday. The stock has a market cap of $2.77 billion, a P/E ratio of -44.26 and a beta of 0.37. The firm’s fifty day simple moving average is $20.84 and its 200 day simple moving average is $23.75. ACADIA Pharmaceuticals Inc. has a twelve month low of $16.60 and a twelve month high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly 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 company had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business’s revenue was up 69.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.26) EPS. On average, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.62 EPS 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.