Canada Pension Plan Investment Board Makes New Investment in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Canada Pension Plan Investment Board acquired 68,100 ACADIA Pharmaceuticals shares worth approximately $1.72 million, while institutional investors collectively own 96.71% of the company.
• ACADIA reported quarterly EPS of $0.18 versus the $0.07 consensus estimate, with revenue rising 16.4% year over year to $308 million. The stock opened at $28.91, near its 52-week high of $30.96.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $34.36; however, company insiders sold 36,699 shares worth roughly $1.02 million over the past 90 days.

Canada Pension Plan Investment Board bought a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 68,100 shares of the biopharmaceutical company's stock, valued at approximately $1,723,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its stake in ACADIA Pharmaceuticals by 74.4% in the 1st quarter. Royal Bank of Canada now owns 80,528 shares of the biopharmaceutical company's stock valued at $1,338,000 after purchasing an additional 34,352 shares during the last quarter. AQR Capital Management LLC boosted its stake in ACADIA Pharmaceuticals by 3.8% during the 1st quarter. AQR Capital Management LLC now owns 67,672 shares of the biopharmaceutical company's stock worth $1,124,000 after purchasing an additional 2,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in ACADIA Pharmaceuticals by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,952 shares of the biopharmaceutical company's stock worth $1,498,000 after purchasing an additional 6,303 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the first quarter worth $186,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of ACADIA Pharmaceuticals by 14.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company's stock worth $4,170,000 after buying an additional 31,931 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $28.91 on Tuesday. The firm has a 50 day simple moving average of $26.93 and a 200-day simple moving average of $23.72. ACADIA Pharmaceuticals Inc. has a 1-year low of $19.69 and a 1-year high of $30.96. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 21.71 and a beta of 0.81.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ACAD. Royal Bank Of Canada raised their price target on shares of ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Needham & Company LLC increased their price objective on shares of ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft raised their target price on shares of ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. Citigroup boosted their target price on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, August 25th. Finally, Morgan Stanley upped their price target on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 25th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $34.36.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the transaction, the executive vice president owned 18,994 shares of the company's stock, valued at $496,313.22. This represents a 46.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark C. Schneyer sold 14,292 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the transaction, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,699 shares of company stock worth $1,019,894 in the last 90 days. Company 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.

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