OMERS ADMINISTRATION Corp Takes Position in ACADIA Pharmaceuticals Inc. $ACAD

OMERS ADMINISTRATION Corp acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 33,500 shares of the biopharmaceutical company’s stock, valued at approximately $746,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rice Hall James & Associates LLC raised its stake in ACADIA Pharmaceuticals by 2.3% in the first quarter. Rice Hall James & Associates LLC now owns 617,489 shares of the biopharmaceutical company’s stock valued at $13,745,000 after buying an additional 13,749 shares in the last quarter. Entropy Technologies LP boosted its position in shares of ACADIA Pharmaceuticals by 88.0% during the 1st quarter. Entropy Technologies LP now owns 24,060 shares of the biopharmaceutical company’s stock worth $536,000 after acquiring an additional 11,264 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of ACADIA Pharmaceuticals by 12.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,724,196 shares of the biopharmaceutical company’s stock worth $38,381,000 after acquiring an additional 191,600 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of ACADIA Pharmaceuticals by 4.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,569,491 shares of the biopharmaceutical company’s stock valued at $34,937,000 after acquiring an additional 66,874 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of ACADIA Pharmaceuticals by 17.4% in the 1st quarter. Cetera Investment Advisers now owns 19,198 shares of the biopharmaceutical company’s stock valued at $427,000 after acquiring an additional 2,843 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $26.55 on Friday. The company has a market capitalization of $4.55 billion, a P/E ratio of 12.07, a PEG ratio of 18.26 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $28.35. The stock has a 50-day simple moving average of $23.65 and a 200-day simple moving average of $23.21.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly 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 firm had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. As a group, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ACAD. Stifel Nicolaus boosted their target price 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 reiterated a “buy” rating and issued a $14.50 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday. HC Wainwright cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. Citigroup boosted their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, Weiss Ratings cut shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Thirteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.31.

Insider Activity at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 5,401 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the transaction, the executive vice president directly 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 SEC filing for this sale provides additional information. Insiders sold 10,239 shares of company stock valued at $219,813 over the last three months. Corporate insiders own 26.20% of the company’s stock.

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.