Louisiana State Employees Retirement System Buys New Stake in ACADIA Pharmaceuticals Inc. $ACAD

Louisiana State Employees Retirement System purchased a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 55,500 shares of the biopharmaceutical company’s stock, valued at approximately $1,235,000.

Other large investors have also recently added to or reduced their stakes in the company. OP Asset Management Ltd acquired a new position in shares of ACADIA Pharmaceuticals during the first quarter worth about $124,000. Assenagon Asset Management S.A. raised its holdings in shares of ACADIA Pharmaceuticals by 796.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 78,127 shares of the biopharmaceutical company’s stock valued at $1,739,000 after buying an additional 69,411 shares during the period. SG Americas Securities LLC raised its holdings in shares of ACADIA Pharmaceuticals by 84.0% during the 1st quarter. SG Americas Securities LLC now owns 77,208 shares of the biopharmaceutical company’s stock valued at $1,719,000 after buying an additional 35,243 shares during the period. Diversified Trust Co lifted its position in ACADIA Pharmaceuticals by 12.6% during the 1st quarter. Diversified Trust Co now owns 44,842 shares of the biopharmaceutical company’s stock worth $998,000 after acquiring an additional 5,022 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in ACADIA Pharmaceuticals by 7.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,113,040 shares of the biopharmaceutical company’s stock worth $29,729,000 after acquiring an additional 76,727 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACAD has been the subject of several recent research reports. Canaccord Genuity Group increased their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Weiss Ratings cut shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Bank of America upped their target price on shares of ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday. Finally, Citigroup lifted their price target 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. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.59.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, insider James Kihara sold 5,401 shares of the firm’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 completion of the transaction, the insider directly owned 24,509 shares of the company’s stock, valued at $519,100.62. This trade represents a 18.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark C. Schneyer sold 3,506 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction 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. The trade was a 5.03% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 13,978 shares of company stock valued at $302,819. Insiders own 26.20% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $25.97 on Friday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $28.35. The business has a 50 day moving average price of $22.18 and a two-hundred day moving average price of $23.42. The firm has a market cap of $4.45 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 18.71 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $268.10 million during the quarter, compared to analyst estimates of $280.25 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 earnings per share. On average, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.37 earnings per share for the current year.

ACADIA Pharmaceuticals Company 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.