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Illinois Municipal Retirement Fund Makes New Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

ACADIA Pharmaceuticals logo with Medical background

Illinois Municipal Retirement Fund bought a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 72,125 shares of the biopharmaceutical company's stock, valued at approximately $1,198,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in ACADIA Pharmaceuticals by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 143,694 shares of the biopharmaceutical company's stock valued at $2,637,000 after acquiring an additional 14,143 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of ACADIA Pharmaceuticals by 14.0% during the 4th quarter. New York State Common Retirement Fund now owns 51,374 shares of the biopharmaceutical company's stock worth $943,000 after buying an additional 6,310 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth $272,000. Fisher Asset Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 68.3% during the 4th quarter. Fisher Asset Management LLC now owns 327,505 shares of the biopharmaceutical company's stock worth $6,010,000 after buying an additional 132,906 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 66.9% during the 4th quarter. Victory Capital Management Inc. now owns 162,125 shares of the biopharmaceutical company's stock worth $2,975,000 after buying an additional 64,995 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Down 1.4%

Shares of ACADIA Pharmaceuticals stock traded down $0.29 during trading hours on Friday, hitting $20.95. 916,956 shares of the company's stock traded hands, compared to its average volume of 1,977,565. The stock has a 50 day simple moving average of $20.26 and a 200-day simple moving average of $18.36. The company has a market cap of $3.51 billion, a PE ratio of 15.29, a PEG ratio of 4.51 and a beta of 0.64. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The company's revenue was up 18.7% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. As a group, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insider Buying and Selling

In related news, EVP Mark C. Schneyer sold 3,498 shares of ACADIA Pharmaceuticals stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $14.60, for a total value of $51,070.80. Following the completion of the transaction, the executive vice president directly owned 62,773 shares in the company, valued at approximately $916,485.80. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Laura Brege sold 14,446 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the transaction, the director directly owned 15,095 shares in the company, valued at $328,769.10. This represents a 48.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,007 shares of company stock worth $580,446. Corporate insiders own 26.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ACAD shares. Oppenheimer restated a "market perform" rating and set a $22.00 price objective (up from $19.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Morgan Stanley set a $24.00 price objective on ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Robert W. Baird increased their price target on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, May 19th. JMP Securities reiterated a "market outperform" rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Finally, UBS Group lowered their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.88.

Read Our Latest Analysis on ACAD

ACADIA Pharmaceuticals Company Profile

(Free Report)

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.

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Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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