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

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 83,398 shares of the biopharmaceutical company’s stock, valued at approximately $2,110,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth $569,634,000. California State Teachers Retirement System raised its holdings in shares of ACADIA Pharmaceuticals by 2,351.9% in the second 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 last quarter. Palo Alto Investors LP acquired a new position in ACADIA Pharmaceuticals during the 2nd quarter worth about $72,461,629. Norges Bank acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth about $40,266,000. Finally, Millennium Management LLC grew its holdings in ACADIA Pharmaceuticals by 2,052.1% during the 3rd quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock worth $31,652,000 after acquiring an additional 1,414,315 shares during 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 capitalization 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 firm’s 50-day moving average is $27.52 and its 200-day moving average is $24.04.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The business had revenue of $308.00 million during the quarter, compared to the consensus estimate of $296.55 million. During the same period in the previous year, the firm posted $0.16 earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mark C. Schneyer sold 14,292 shares of the stock in a transaction 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 transaction, the executive vice president owned 67,828 shares of the company’s stock, valued at $1,981,934.16. This represents a 17.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the transaction, the executive vice president owned 18,994 shares in the company, valued at $496,313.22. This represents a 46.57% 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 36,699 shares of company stock valued at $1,019,894 in the last ninety days. Company insiders own 26.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACAD. Citigroup raised their price objective on shares of ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. HC Wainwright reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 6th. UBS Group raised their price target on shares of ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the company a “buy” rating in a report on Monday, August 17th. Stifel Nicolaus upped their price objective on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada increased their price objective on ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.36.

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.