OMERS ADMINISTRATION Corp Invests $848,000 in ACADIA Pharmaceuticals Inc. $ACAD

OMERS ADMINISTRATION Corp acquired a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 33,500 shares of the biopharmaceutical company’s stock, valued at approximately $848,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ACADIA Pharmaceuticals in the second quarter worth approximately $537,000. Emerald Investment Advisers LLC purchased a new stake in ACADIA Pharmaceuticals during the 2nd quarter valued at $3,333,000. Ieq Capital LLC bought a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at $415,000. Virtus Advisers LLC bought a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at $1,123,000. Finally, E Fund Management Co. Ltd. purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth $393,000. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $29.73 on Friday. The stock has a 50-day simple moving average of $26.64 and a two-hundred day simple moving average of $23.63. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $30.96. The firm has a market capitalization of $5.12 billion, a PE ratio of 13.39, a P/E/G ratio of 22.06 and a beta of 0.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The business had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $296.55 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. Equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the sale, the executive vice president directly owned 18,994 shares in the company, valued at $496,313.22. This trade represents a 46.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the transaction, the executive vice president owned 67,828 shares in the company, valued at approximately $1,981,934.16. This trade represents a 17.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 36,699 shares of company stock worth $1,019,894. 26.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

ACAD has been the subject of a number of research reports. Needham & Company LLC upped their price objective on ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Bank of America reissued a “buy” rating and issued a $14.50 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, July 29th. Oppenheimer upped their price target on shares of ACADIA Pharmaceuticals from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. Morgan Stanley increased their price objective on shares of ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, BMO Capital Markets raised their price objective on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $34.36.

ACADIA Pharmaceuticals Company Profile

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.