Mutual of America Capital Management LLC Takes $2.21 Million Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Mutual of America Capital Management LLC bought a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the fourth quarter, HoldingsChannel reports. The fund bought 70,470 shares of the biopharmaceutical company’s stock, valued at approximately $2,206,000.

A number of other large investors have also modified their holdings of ACAD. Raymond James Financial Services Advisors Inc. acquired a new stake in ACADIA Pharmaceuticals during the 1st quarter valued at approximately $572,000. HighTower Advisors LLC acquired a new stake in ACADIA Pharmaceuticals during the 1st quarter valued at approximately $1,077,000. MetLife Investment Management LLC grew its stake in ACADIA Pharmaceuticals by 54.0% during the 1st quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock valued at $1,607,000 after purchasing an additional 23,265 shares in the last quarter. Rhumbline Advisers grew its stake in ACADIA Pharmaceuticals by 3.9% during the 1st quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock valued at $3,232,000 after purchasing an additional 5,011 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in ACADIA Pharmaceuticals during the 1st quarter valued at approximately $1,380,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Mark C. Schneyer sold 5,434 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $97,268.60. Following the transaction, the chief financial officer now directly owns 26,183 shares in the company, valued at approximately $468,675.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals 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 transaction, the chief executive officer now owns 101,890 shares in the company, valued at $2,513,626.30. The disclosure for this sale can be found here. Insiders have sold 69,383 shares of company stock valued at $1,291,362 in the last quarter. Corporate insiders own 27.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ACAD. TheStreet upgraded ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research note on Tuesday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 10th. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Finally, Mizuho downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $39.00 to $25.00 in a report on Tuesday, March 12th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $16.82 on Friday. The business’s fifty day moving average price is $20.84 and its two-hundred day moving average price is $23.74. The company has a market capitalization of $2.77 billion, a P/E ratio of -44.26 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a 1-year low of $16.60 and a 1-year high of $33.99.

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). The business had revenue of $231.04 million for the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The firm’s revenue was up 69.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.26) EPS. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current fiscal year.

About ACADIA Pharmaceuticals

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.