State Board of Administration of Florida Retirement System increased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 18.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,087 shares of the biopharmaceutical company’s stock after purchasing an additional 20,390 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of ACADIA Pharmaceuticals worth $3,684,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ACAD. Envestnet Asset Management Inc. boosted its stake in ACADIA Pharmaceuticals by 23.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 617 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in ACADIA Pharmaceuticals by 138.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 2,548 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in ACADIA Pharmaceuticals by 12.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 4,510 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 510 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in ACADIA Pharmaceuticals in the 1st quarter worth about $161,000. Finally, Flagship Harbor Advisors LLC bought a new position in ACADIA Pharmaceuticals in the 1st quarter worth about $202,000. Institutional investors own 97.11% of the company’s stock.

In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 38,097 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $30.00, for a total value of $1,142,910.00. Following the completion of the sale, the executive vice president now owns 109,253 shares of the company’s stock, valued at $3,277,590. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 80,829 shares of company stock valued at $2,623,850. Corporate insiders own 22.25% of the company’s stock.

A number of brokerages recently issued reports on ACAD. Piper Jaffray Companies set a $54.00 price target on shares of ACADIA Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Rodman & Renshaw reiterated a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, May 22nd. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, August 9th. ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Cowen and Company reiterated an “outperform” rating and issued a $46.00 price target (up previously from $42.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 10th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. ACADIA Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $43.23.

WARNING: “State Board of Administration of Florida Retirement System Has $3.68 Million Position in ACADIA Pharmaceuticals Inc. (ACAD)” was first posted by Watch List News and is the property of of Watch List News. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.watchlistnews.com/state-board-of-administration-of-florida-retirement-system-has-3-68-million-position-in-acadia-pharmaceuticals-inc-acad/1547664.html.

ACADIA Pharmaceuticals Inc. (NASDAQ ACAD) opened at 35.80 on Friday. The company’s market cap is $4.38 billion. ACADIA Pharmaceuticals Inc. has a 1-year low of $20.68 and a 1-year high of $40.83. The firm’s 50-day moving average is $31.78 and its 200 day moving average is $31.64.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.17. The business had revenue of $30.50 million during the quarter, compared to the consensus estimate of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The company’s quarterly revenue was up 30400.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.63) earnings per share. Analysts predict that ACADIA Pharmaceuticals Inc. will post ($2.55) earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

Want to see what other hedge funds are holding ACAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD).

Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Receive News & Ratings for ACADIA Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.