State Board of Administration of Florida Retirement System Sells 7,730 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

State Board of Administration of Florida Retirement System trimmed its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,881 shares of the biopharmaceutical company’s stock after selling 7,730 shares during the period. State Board of Administration of Florida Retirement System’s holdings in ACADIA Pharmaceuticals were worth $635,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ACAD. Bain Capital Life Sciences Investors LLC raised its position in ACADIA Pharmaceuticals by 1.7% during the 3rd quarter. Bain Capital Life Sciences Investors LLC now owns 610,523 shares of the biopharmaceutical company’s stock valued at $9,988,000 after purchasing an additional 10,000 shares during the last quarter. Hohimer Wealth Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 26.5% during the fourth quarter. Hohimer Wealth Management LLC now owns 20,265 shares of the biopharmaceutical company’s stock valued at $323,000 after acquiring an additional 4,250 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in ACADIA Pharmaceuticals by 1.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 200,032 shares of the biopharmaceutical company’s stock worth $3,273,000 after acquiring an additional 2,117 shares during the period. Cubist Systematic Strategies LLC lifted its stake in ACADIA Pharmaceuticals by 268.9% in the third quarter. Cubist Systematic Strategies LLC now owns 102,825 shares of the biopharmaceutical company’s stock worth $1,682,000 after acquiring an additional 74,952 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in ACADIA Pharmaceuticals by 1.6% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 1,048,750 shares of the biopharmaceutical company’s stock valued at $16,696,000 after acquiring an additional 16,011 shares in the last quarter. 92.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Austin D. Kim sold 1,456 shares of the business’s stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $18.16, for a total transaction of $26,440.96. Following the completion of the transaction, the executive vice president now directly owns 23,425 shares of the company’s stock, valued at $425,398. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Austin D. Kim sold 1,456 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $18.16, for a total value of $26,440.96. Following the sale, the executive vice president now owns 23,425 shares in the company, valued at $425,398. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Davis sold 3,851 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $18.78, for a total transaction of $72,321.78. Following the sale, the chief executive officer now owns 91,727 shares of the company’s stock, valued at $1,722,633.06. The disclosure for this sale can be found here. Insiders have sold a total of 30,242 shares of company stock valued at $580,929 in the last 90 days. 28.40% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Stock Up 2.3 %

Shares of NASDAQ ACAD opened at $23.20 on Friday. The firm has a market cap of $3.77 billion, a P/E ratio of -25.49 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a twelve month low of $12.24 and a twelve month high of $23.23. The company has a 50 day moving average of $19.96 and a 200 day moving average of $18.15.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last announced its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). ACADIA Pharmaceuticals had a negative net margin of 28.05% and a negative return on equity of 35.70%. The business had revenue of $118.46 million for the quarter, compared to the consensus estimate of $120.29 million. During the same period in the previous year, the company earned ($0.70) earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts expect that ACADIA Pharmaceuticals Inc. will post -0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on ACAD. JMP Securities raised their target price on shares of ACADIA Pharmaceuticals from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 9th. StockNews.com initiated coverage on ACADIA Pharmaceuticals in a report on Thursday. They set a “buy” rating on the stock. HC Wainwright increased their target price on ACADIA Pharmaceuticals from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 14th. Oppenheimer lifted their price target on ACADIA Pharmaceuticals from $17.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, March 1st. Finally, Credit Suisse Group increased their price objective on ACADIA Pharmaceuticals from $93.00 to $95.00 in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $25.40.

ACADIA Pharmaceuticals Company Profile

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ACADIA Pharmaceuticals, Inc is a biopharmaceutical company, which focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. Its products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.