ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,107 shares of the biopharmaceutical company’s stock after selling 2,860 shares during the period. Teacher Retirement System of Texas’ holdings in ACADIA Pharmaceuticals were worth $483,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ACAD. Summit Investment Advisors Inc. grew its holdings in ACADIA Pharmaceuticals by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock valued at $230,000 after buying an additional 795 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth about $29,000. Arete Wealth Advisors LLC boosted its position in shares of ACADIA Pharmaceuticals by 15.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company’s stock worth $251,000 after acquiring an additional 1,875 shares during the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth approximately $39,000. Finally, MetLife Investment Management LLC grew its holdings in ACADIA Pharmaceuticals by 3.8% in the fourth quarter. MetLife Investment Management LLC now owns 73,048 shares of the biopharmaceutical company’s stock valued at $1,340,000 after purchasing an additional 2,669 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Price Performance

ACAD opened at $22.55 on Thursday. The company has a market capitalization of $3.77 billion, a P/E ratio of 16.46, a P/E/G ratio of 4.74 and a beta of 0.64. The firm’s fifty day moving average price is $21.37 and its two-hundred day moving average price is $18.60. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. On average, equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Activity

In related news, insider James Kihara sold 4,000 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the completion of the sale, the insider owned 20,395 shares in the company, valued at approximately $458,887.50. This represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Laura Brege sold 14,446 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total value of $314,633.88. Following the sale, the director directly owned 15,095 shares in the company, valued at $328,769.10. The trade was a 48.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,271 shares of company stock valued at $525,079. 26.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ACAD has been the topic of a number of recent analyst reports. Oppenheimer reaffirmed a “market perform” rating and set a $22.00 price target (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Cantor Fitzgerald raised ACADIA Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, June 5th. Robert W. Baird lifted their target price on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Bank of America upped their price target on ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, June 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $27.88.

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.