State of New Jersey Common Pension Fund D Has $1.08 Million Holdings in ACADIA Pharmaceuticals Inc. $ACAD

State of New Jersey Common Pension Fund D cut its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 53.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,309 shares of the biopharmaceutical company’s stock after selling 45,512 shares during the period. State of New Jersey Common Pension Fund D’s holdings in ACADIA Pharmaceuticals were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ACAD. Dimensional Fund Advisors LP increased its holdings in shares of ACADIA Pharmaceuticals by 16.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,798,134 shares of the biopharmaceutical company’s stock valued at $59,712,000 after purchasing an additional 402,534 shares in the last quarter. Braidwell LP acquired a new position in ACADIA Pharmaceuticals during the 3rd quarter worth $50,760,000. Marshall Wace LLP lifted its holdings in ACADIA Pharmaceuticals by 19.8% during the 3rd quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock worth $50,339,000 after buying an additional 389,170 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in ACADIA Pharmaceuticals by 390.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock valued at $35,187,000 after buying an additional 1,312,426 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of ACADIA Pharmaceuticals by 5.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,547,103 shares of the biopharmaceutical company’s stock valued at $41,493,000 after buying an additional 84,055 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Down 2.7%

NASDAQ:ACAD opened at $21.80 on Tuesday. ACADIA Pharmaceuticals Inc. has a 12-month low of $16.86 and a 12-month high of $28.35. The firm has a market capitalization of $3.73 billion, a P/E ratio of 9.91, a P/E/G ratio of 25.16 and a beta of 0.86. The stock’s fifty day simple moving average is $21.95 and its 200-day simple moving average is $23.92.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The company had revenue of $268.10 million during the quarter, compared to the consensus estimate of $280.25 million. During the same quarter in the prior year, the company posted $0.11 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.42 earnings per share for the current year.

Insider Activity

In other news, EVP Mark C. Schneyer sold 3,506 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the completion of the sale, the executive vice president directly owned 66,145 shares of the company’s stock, valued at $1,441,299.55. This represents a 5.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James Kihara sold 1,332 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $29,024.28. Following the completion of the sale, the insider owned 29,129 shares in the company, valued at $634,720.91. This represents a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,577 shares of company stock valued at $188,426 over the last 90 days. Corporate insiders own 26.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ACAD shares. Stifel Nicolaus dropped their target price on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, February 26th. Citigroup decreased their price target on ACADIA Pharmaceuticals from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Friday. Bank of America upgraded ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, March 25th. TD Cowen upped their target price on shares of ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings lowered shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.