New York State Common Retirement Fund Lowers Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

New York State Common Retirement Fund trimmed its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 8.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,639 shares of the biopharmaceutical company’s stock after selling 19,870 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of ACADIA Pharmaceuticals worth $6,689,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ACAD. Mutual of America Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $2,206,000. Qube Research & Technologies Ltd boosted its position in ACADIA Pharmaceuticals by 757.2% during the third quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock worth $4,437,000 after purchasing an additional 188,080 shares in the last quarter. RTW Investments LP grew its holdings in ACADIA Pharmaceuticals by 18.3% in the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after purchasing an additional 1,793,288 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of ACADIA Pharmaceuticals by 9.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company’s stock worth $22,363,000 after buying an additional 91,641 shares during the period. Finally, Northern Trust Corp lifted its position in shares of ACADIA Pharmaceuticals by 4.9% during the 3rd quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock valued at $25,439,000 after buying an additional 57,555 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ACAD shares. Oppenheimer reaffirmed a “market perform” rating and issued a $25.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, February 5th. Mizuho cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price target for the company from $39.00 to $25.00 in a research note on Tuesday, March 12th. TheStreet raised shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $42.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. cut their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.13.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the sale, the chief executive officer now owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Stephen Davis sold 5,577 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark C. Schneyer sold 3,503 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $59,340.82. Following the sale, the chief financial officer now directly owns 32,053 shares of the company’s stock, valued at $542,977.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,116 shares of company stock worth $1,625,639. Company insiders own 27.50% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $17.05 on Friday. The company’s 50-day simple moving average is $19.15 and its 200-day simple moving average is $23.33. ACADIA Pharmaceuticals Inc. has a 1 year low of $16.16 and a 1 year high of $33.99. The stock has a market capitalization of $2.82 billion, a PE ratio of -44.87 and a beta of 0.42.

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

ACADIA Pharmaceuticals Company 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.