ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 21.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 112,270 shares of the biopharmaceutical company’s stock after purchasing an additional 19,703 shares during the period. State of New Jersey Common Pension Fund D’s holdings in ACADIA Pharmaceuticals were worth $3,515,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its holdings in ACADIA Pharmaceuticals by 2.3% in the 4th quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock valued at $990,000 after purchasing an additional 700 shares during the last quarter. Phocas Financial Corp. grew its stake in shares of ACADIA Pharmaceuticals by 1.9% in the fourth quarter. Phocas Financial Corp. now owns 66,957 shares of the biopharmaceutical company’s stock worth $2,096,000 after acquiring an additional 1,266 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of ACADIA Pharmaceuticals by 1.1% in the third quarter. Alps Advisors Inc. now owns 120,810 shares of the biopharmaceutical company’s stock worth $2,518,000 after acquiring an additional 1,274 shares in the last quarter. Raymond James & Associates grew its stake in shares of ACADIA Pharmaceuticals by 18.1% in the third quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock worth $221,000 after acquiring an additional 1,630 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 2,070 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $16.71 on Friday. ACADIA Pharmaceuticals Inc. has a 1-year low of $16.16 and a 1-year high of $33.99. The firm has a fifty day moving average price of $20.11 and a 200 day moving average price of $23.58.

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

Analyst Ratings Changes

ACAD has been the subject of several research reports. Oppenheimer restated a “market perform” rating and issued a $25.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, April 10th. Royal Bank of Canada dropped their price target on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Robert W. Baird assumed coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, January 30th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Insider Activity at ACADIA Pharmaceuticals

In related news, COO Brendan Teehan sold 5,140 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were 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 directly owns 36,340 shares of the company’s stock, valued at $650,486. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of ACADIA Pharmaceuticals stock in a transaction 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 transaction, the insider now directly owns 13,100 shares in the company, valued at $234,097. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Brendan Teehan sold 5,140 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $92,006.00. Following the completion of the transaction, the chief operating officer now owns 36,340 shares in the company, valued at $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 over the last ninety days. Insiders own 27.50% of the company’s stock.

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.