New York State Common Retirement Fund Sells 19,870 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

New York State Common Retirement Fund decreased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 8.5% in the 4th quarter, HoldingsChannel reports. The firm owned 213,639 shares of the biopharmaceutical company’s stock after selling 19,870 shares during the quarter. New York State Common Retirement Fund’s holdings in ACADIA Pharmaceuticals were worth $6,689,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. RTW Investments LP increased its holdings in shares of 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 in the last quarter. Fred Alger Management LLC raised its stake in shares of ACADIA Pharmaceuticals by 38.7% during the third quarter. Fred Alger Management LLC now owns 3,108,883 shares of the biopharmaceutical company’s stock worth $64,789,000 after buying an additional 867,818 shares during the last quarter. Sectoral Asset Management Inc. acquired a new position in ACADIA Pharmaceuticals in the third quarter valued at approximately $4,376,000. Qube Research & Technologies Ltd boosted its stake in ACADIA Pharmaceuticals by 757.2% in the third 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. Finally, The Manufacturers Life Insurance Company grew its holdings in ACADIA Pharmaceuticals by 15.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,050,394 shares of the biopharmaceutical company’s stock worth $21,890,000 after acquiring an additional 137,369 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday. JPMorgan Chase & Co. lowered their target price on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. Finally, Robert W. Baird initiated coverage on ACADIA Pharmaceuticals in a research report on Tuesday, January 30th. They set an “outperform” rating and a $40.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $32.13.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $17.05 on Friday. ACADIA Pharmaceuticals Inc. has a 52 week low of $16.16 and a 52 week high of $33.99. The firm’s 50-day simple moving average is $19.15 and its 200 day simple moving average is $23.33. The firm has a market cap of $2.82 billion, a price-to-earnings 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 EPS 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 return on equity of 15.67% and a negative net margin of 8.44%. The firm’s revenue for the quarter was up 69.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.26) earnings per share. Sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at $2,513,626.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Brendan Teehan sold 3,477 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $58,900.38. Following the sale, the chief operating officer now directly owns 42,133 shares of the company’s stock, valued at $713,733.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen Davis sold 5,577 shares of the business’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 transaction, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,116 shares of company stock worth $1,625,639. Company insiders own 27.50% of the company’s stock.

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.