VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.35 Million Investment in ACADIA Pharmaceuticals Inc. $ACAD

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 62,748 shares of the biopharmaceutical company’s stock, valued at approximately $1,353,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in ACADIA Pharmaceuticals by 645.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 310,332 shares of the biopharmaceutical company’s stock valued at $5,065,000 after buying an additional 268,714 shares in the last quarter. Comerica Bank grew its position in shares of ACADIA Pharmaceuticals by 4,770.1% during the 1st quarter. Comerica Bank now owns 43,100 shares of the biopharmaceutical company’s stock worth $716,000 after buying an additional 42,215 shares during the period. GAMMA Investing LLC grew its holdings in ACADIA Pharmaceuticals by 627.3% during the first quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company’s stock valued at $58,000 after purchasing an additional 3,030 shares during the period. Rhumbline Advisers grew its holdings in ACADIA Pharmaceuticals by 100.9% during the first quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company’s stock valued at $5,859,000 after purchasing an additional 177,188 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at approximately $247,000. 96.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Elizabeth A. Garofalo sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total value of $41,568.00. Following the sale, the director directly owned 25,382 shares in the company, valued at approximately $659,424.36. This trade represents a 5.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 3,498 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $23.65, for a total transaction of $82,727.70. Following the completion of the sale, the executive vice president owned 43,447 shares in the company, valued at approximately $1,027,521.55. The trade was a 7.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,098 shares of company stock worth $678,256. 26.50% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $21.39 on Thursday. The firm has a market capitalization of $3.61 billion, a PE ratio of 16.08, a PEG ratio of 7.48 and a beta of 0.75. The company’s 50-day moving average is $23.37 and its 200-day moving average is $21.20. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $264.57 million for the quarter, compared to analysts’ expectations of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. Analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACAD shares. TD Cowen upped their price target on shares of ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Citigroup initiated coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday. They issued a “buy” rating and a $33.00 price objective on the stock. UBS Group boosted their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. JPMorgan Chase & Co. cut their price objective on shares of ACADIA Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, September 29th. Finally, Cowen reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.33.

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.