New York State Teachers Retirement System Boosts Holdings in ACADIA Pharmaceuticals Inc. $ACAD

New York State Teachers Retirement System increased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 39.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,845 shares of the biopharmaceutical company’s stock after purchasing an additional 13,220 shares during the period. New York State Teachers Retirement System’s holdings in ACADIA Pharmaceuticals were worth $1,010,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System lifted its holdings in ACADIA Pharmaceuticals by 1.3% in the 2nd quarter. Maryland State Retirement & Pension System now owns 36,397 shares of the biopharmaceutical company’s stock worth $785,000 after purchasing an additional 476 shares in the last quarter. GF Fund Management CO. LTD. lifted its holdings in ACADIA Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 4,260 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 766 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in ACADIA Pharmaceuticals by 1.7% in the 2nd quarter. Yousif Capital Management LLC now owns 46,773 shares of the biopharmaceutical company’s stock worth $1,009,000 after purchasing an additional 790 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in ACADIA Pharmaceuticals by 15.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,465 shares of the biopharmaceutical company’s stock worth $139,000 after purchasing an additional 884 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in ACADIA Pharmaceuticals by 14.1% in the 1st quarter. Xponance Inc. now owns 11,585 shares of the biopharmaceutical company’s stock worth $192,000 after purchasing an additional 1,434 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ACAD shares. Needham & Company LLC decreased their price objective on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Wall Street Zen cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a report on Tuesday, October 14th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Finally, The Goldman Sachs Group upped their price objective on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the stock a “sell” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.33.

ACADIA Pharmaceuticals Stock Up 0.6%

ACAD stock opened at $21.39 on Thursday. The business’s fifty day simple moving average is $23.37 and its two-hundred day simple moving average is $21.20. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $26.65. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 7.48 and a beta of 0.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The business had revenue of $264.57 million for the quarter, compared to analyst estimates of $263.07 million. During the same quarter last year, the firm posted $0.20 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. Research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Mark C. Schneyer sold 3,498 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $23.65, for a total transaction of $82,727.70. Following the transaction, the executive vice president owned 43,447 shares in the company, valued at approximately $1,027,521.55. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total value of $41,568.00. Following the transaction, the director owned 25,382 shares in the company, valued at approximately $659,424.36. This represents a 5.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,098 shares of company stock worth $678,256. Insiders own 26.50% 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.