VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in ACADIA Pharmaceuticals Inc. $ACAD

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 2nd quarter, Holdings Channel reports. The fund acquired 83,398 shares of the biopharmaceutical company’s stock, valued at approximately $2,110,000.

A number of other institutional investors have also recently bought and sold shares of ACAD. BlackRock Inc. acquired a new stake in ACADIA Pharmaceuticals in the second quarter worth $569,634,000. California State Teachers Retirement System grew its holdings in shares of ACADIA Pharmaceuticals by 2,351.9% in the 2nd quarter. California State Teachers Retirement System now owns 3,389,669 shares of the biopharmaceutical company’s stock valued at $85,759,000 after buying an additional 3,251,425 shares during the period. Palo Alto Investors LP acquired a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at $72,461,629. Norges Bank bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $40,266,000. Finally, Millennium Management LLC increased its position in shares of ACADIA Pharmaceuticals by 2,052.1% in the 3rd quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock valued at $31,652,000 after buying an additional 1,414,315 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 0.3%

Shares of NASDAQ ACAD opened at $27.83 on Friday. The firm has a market cap of $4.80 billion, a PE ratio of 12.54 and a beta of 0.86. ACADIA Pharmaceuticals Inc. has a 1-year low of $19.69 and a 1-year high of $30.96. The company has a fifty day moving average price of $27.52 and a 200 day moving average price of $24.04.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.11. The firm had revenue of $308.00 million for the quarter, compared to the consensus estimate of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. Equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.63 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on ACAD. Stifel Nicolaus raised their price objective on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Bank of America restated a “buy” rating and issued a $14.50 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. Morgan Stanley raised their price target on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 25th. Wall Street Zen upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $34.36.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Mark Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the sale, the executive vice president owned 67,828 shares of the company’s stock, valued at approximately $1,981,934.16. This trade represents a 17.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the sale, the executive vice president owned 18,994 shares in the company, valued at $496,313.22. The trade was a 46.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 36,699 shares of company stock valued at $1,019,894. 26.20% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for neurological and psychiatric disorders. The company is headquartered in San Diego, California, and conducts research and commercial activities primarily in the United States.

ACADIA’s marketed products include NUPLAZID (pimavanserin), an atypical antipsychotic approved for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis. The company also markets DAYBUE (trofinetide), a therapy for Rett syndrome, a rare neurodevelopmental disorder.

Founded in 1993, ACADIA continues to advance a pipeline of therapies for central nervous system conditions, including additional neurological and psychiatric disorders.