Strs Ohio Raises Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Strs Ohio boosted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 6.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 47,100 shares of the biopharmaceutical company’s stock after acquiring an additional 2,700 shares during the period. Strs Ohio’s holdings in ACADIA Pharmaceuticals were worth $1,474,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Qube Research & Technologies Ltd increased its holdings in shares of ACADIA Pharmaceuticals by 757.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock valued at $4,437,000 after acquiring an additional 188,080 shares during the last quarter. RTW Investments LP grew its stake in ACADIA Pharmaceuticals by 18.3% during the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after buying an additional 1,793,288 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 last quarter. Northern Trust Corp grew its stake in ACADIA Pharmaceuticals by 4.9% during the 3rd quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock worth $25,439,000 after buying an additional 57,555 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in ACADIA Pharmaceuticals by 1,284.6% during the 3rd quarter. SG Americas Securities LLC now owns 72,455 shares of the biopharmaceutical company’s stock worth $1,510,000 after buying an additional 67,222 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Activity

In related news, CFO Mark C. Schneyer sold 2,716 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $48,534.92. Following the completion of the sale, the chief financial officer now directly owns 28,742 shares in the company, valued at $513,619.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Stephen Davis sold 5,577 shares of the firm’s 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 directly owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark C. Schneyer sold 2,716 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $48,534.92. Following the completion of the sale, the chief financial officer now directly owns 28,742 shares in the company, valued at $513,619.54. The disclosure for this sale can be found here. Insiders sold 69,383 shares of company stock worth $1,291,362 over the last quarter. Corporate insiders own 27.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ACAD shares. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Morgan Stanley decreased their price objective on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 13th. TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada decreased their price objective on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.82.

ACADIA Pharmaceuticals Stock Down 1.5 %

ACAD opened at $16.82 on Monday. The firm has a market cap of $2.77 billion, a PE ratio of -44.26 and a beta of 0.37. The business has a fifty day simple moving average of $20.84 and a 200-day simple moving average of $23.75. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data 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 company had revenue of $231.04 million for the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The business’s revenue was up 69.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.26) earnings per share. On average, equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current fiscal year.

ACADIA Pharmaceuticals 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.