33,500 Shares in ACADIA Pharmaceuticals Inc. $ACAD Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp purchased a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 1st quarter, Holdings Channel.com reports. The fund purchased 33,500 shares of the biopharmaceutical company’s stock, valued at approximately $746,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACAD. Norges Bank acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $40,266,000. Millennium Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 2,052.1% in the third quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock valued at $31,652,000 after purchasing an additional 1,414,315 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of ACADIA Pharmaceuticals by 390.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock valued at $35,187,000 after purchasing an additional 1,312,426 shares during the period. First Trust Advisors LP raised its stake in shares of ACADIA Pharmaceuticals by 47.3% during the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock worth $74,435,000 after purchasing an additional 1,073,834 shares during the last quarter. Finally, Logos Global Management LP purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $22,704,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ACAD shares. Stifel Nicolaus increased their price target on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings cut shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Citigroup raised their target price on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Finally, Royal Bank Of Canada lifted their target price on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Thirteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $32.31.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, insider James Kihara sold 5,401 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total transaction of $114,393.18. Following the sale, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. The trade was a 18.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark C. Schneyer sold 3,506 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the sale, the executive vice president owned 66,145 shares in the company, valued at $1,441,299.55. The trade was a 5.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 10,239 shares of company stock valued at $219,813. 26.20% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Trading Up 0.8%

Shares of ACAD stock opened at $26.55 on Friday. The stock has a 50 day simple moving average of $23.65 and a 200-day simple moving average of $23.21. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 18.26 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a 12-month low of $19.69 and a 12-month high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share 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 business had revenue of $268.10 million during the quarter, compared to analysts’ expectations of $280.25 million. During the same quarter last year, the firm earned $0.11 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Profile

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.