State of New Jersey Common Pension Fund D Has $1.08 Million Stock Holdings in ACADIA Pharmaceuticals Inc. $ACAD

State of New Jersey Common Pension Fund D trimmed its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 53.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,309 shares of the biopharmaceutical company’s stock after selling 45,512 shares during the period. State of New Jersey Common Pension Fund D’s holdings in ACADIA Pharmaceuticals were worth $1,077,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in shares of ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 386 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in ACADIA Pharmaceuticals by 4.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 13,192 shares of the biopharmaceutical company’s stock worth $352,000 after purchasing an additional 512 shares during the period. PNC Financial Services Group Inc. boosted its stake in ACADIA Pharmaceuticals by 11.2% during the third quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 534 shares in the last quarter. Vise Technologies Inc. boosted its stake in ACADIA Pharmaceuticals by 4.0% during the third quarter. Vise Technologies Inc. now owns 15,367 shares of the biopharmaceutical company’s stock worth $328,000 after buying an additional 585 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in ACADIA Pharmaceuticals by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company’s stock valued at $1,964,000 after buying an additional 626 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 2.7%

Shares of ACAD stock opened at $21.80 on Tuesday. The company has a market capitalization of $3.73 billion, a P/E ratio of 9.91, a P/E/G ratio of 25.16 and a beta of 0.86. ACADIA Pharmaceuticals Inc. has a 12-month low of $16.86 and a 12-month high of $28.35. The firm has a 50-day moving average price of $21.95 and a 200 day moving average price of $23.92.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $268.10 million for the quarter, compared to the consensus estimate of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.ACADIA Pharmaceuticals’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 earnings per share. As a group, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.42 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Mark C. Schneyer sold 3,506 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the sale, the executive vice president directly owned 66,145 shares in the company, valued at $1,441,299.55. This represents a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Kihara sold 1,332 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total value of $29,024.28. Following the sale, the insider directly owned 29,129 shares of the company’s stock, valued at $634,720.91. This represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 8,577 shares of company stock worth $188,426. 26.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ACAD. Stifel Nicolaus dropped their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Wall Street Zen cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Bank of America raised shares of ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Wednesday, March 25th. JPMorgan Chase & Co. raised their price target on shares of ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Finally, TD Cowen upped their price objective on ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.