Public Employees Retirement Association of Colorado Has $225,000 Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Public Employees Retirement Association of Colorado lessened its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,821 shares of the biopharmaceutical company’s stock after selling 1,527 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in ACADIA Pharmaceuticals were worth $225,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ACAD. Covestor Ltd lifted its position in ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares during the period. Headlands Technologies LLC bought a new position in ACADIA Pharmaceuticals in the first quarter valued at approximately $48,000. Acadian Asset Management LLC acquired a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth $111,000. Shell Asset Management Co. raised its position in shares of ACADIA Pharmaceuticals by 65.7% during the 1st quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock valued at $136,000 after acquiring an additional 2,909 shares during the last quarter. Finally, Old Well Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $257,000. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD opened at $15.69 on Friday. ACADIA Pharmaceuticals Inc. has a one year low of $14.55 and a one year high of $32.59. The company has a market cap of $2.59 billion, a P/E ratio of -1,569.00, a P/E/G ratio of 0.55 and a beta of 0.40. The firm’s fifty day moving average price is $16.57 and its two-hundred day moving average price is $16.58.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $241.96 million for the quarter, compared to analyst estimates of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. As a group, equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 31,747 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the transaction, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at $2,850,560.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $485,094.16. Following the transaction, the chief executive officer now owns 186,555 shares in the company, valued at approximately $2,850,560.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. The disclosure for this sale can be found here. Insiders sold 51,014 shares of company stock valued at $779,494 in the last quarter. Company insiders own 28.30% of the company’s stock.

Analyst Ratings Changes

ACAD has been the topic of several analyst reports. BMO Capital Markets began coverage on ACADIA Pharmaceuticals in a research note on Thursday, June 27th. They issued an “outperform” rating and a $31.00 target price on the stock. Morgan Stanley lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $28.00 to $20.00 in a research note on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, August 8th. UBS Group cut their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC decreased their price target on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $25.56.

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.