58,000 Shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 58,000 shares of the biopharmaceutical company's stock, valued at approximately $963,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new stake in ACADIA Pharmaceuticals during the 1st quarter worth about $29,000. Virtus Fund Advisers LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $39,000. GAMMA Investing LLC increased its position in shares of ACADIA Pharmaceuticals by 627.3% during the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock worth $58,000 after purchasing an additional 3,030 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $64,000. Finally, Xponance Inc. acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at $186,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and upped their price target for the company from $20.00 to $35.00 in a research note on Wednesday, May 21st. Morgan Stanley set a $24.00 price target on shares of ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. HC Wainwright restated a "buy" rating and issued a $32.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Cantor Fitzgerald raised shares of ACADIA Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Bank of America increased their target price on ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the company a "hold" rating in a research note on Thursday, June 5th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $27.88.

ACADIA Pharmaceuticals Trading Up 1.3%

Shares of ACAD stock traded up $0.29 on Tuesday, hitting $22.57. 917,687 shares of the stock were exchanged, compared to its average volume of 1,963,582. The firm has a market capitalization of $3.78 billion, a PE ratio of 16.47, a P/E/G ratio of 4.80 and a beta of 0.64. The firm's 50 day moving average is $21.58 and its two-hundred day moving average is $18.67. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) 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 analyst estimates of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The firm's quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. On average, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling

In related news, insider James Kihara sold 4,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.50, for a total value of $90,000.00. Following the completion of the transaction, the insider directly owned 20,395 shares of the company's stock, valued at approximately $458,887.50. This trade represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $25.00, for a total value of $50,000.00. Following the sale, the executive vice president directly owned 62,130 shares of the company's stock, valued at $1,553,250. This represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,271 shares of company stock worth $525,079 in the last 90 days. Insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Profile

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.