Mutual of America Capital Management LLC Makes New Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Mutual of America Capital Management LLC acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,930 shares of the biopharmaceutical company's stock, valued at approximately $298,000.

Other institutional investors have also modified their holdings of the company. Xponance Inc. increased its position in ACADIA Pharmaceuticals by 14.1% during the first quarter. Xponance Inc. now owns 11,585 shares of the biopharmaceutical company's stock worth $192,000 after purchasing an additional 1,434 shares during the last quarter. Alps Advisors Inc. raised its holdings in ACADIA Pharmaceuticals by 4.2% in the first quarter. Alps Advisors Inc. now owns 140,225 shares of the biopharmaceutical company's stock valued at $2,329,000 after acquiring an additional 5,681 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in ACADIA Pharmaceuticals by 33.8% in the first quarter. Envestnet Asset Management Inc. now owns 142,667 shares of the biopharmaceutical company's stock valued at $2,370,000 after acquiring an additional 36,003 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in ACADIA Pharmaceuticals in the first quarter valued at $247,000. Finally, Bank of New York Mellon Corp raised its holdings in ACADIA Pharmaceuticals by 96.3% in the first quarter. Bank of New York Mellon Corp now owns 804,390 shares of the biopharmaceutical company's stock valued at $13,361,000 after acquiring an additional 394,640 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

Insider Activity

In related news, insider James Kihara sold 4,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.50, for a total transaction of $90,000.00. Following the completion of the sale, the insider directly owned 20,395 shares of the company's stock, valued at approximately $458,887.50. This represents a 16.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark C. Schneyer sold 2,000 shares of the 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 approximately $1,553,250. The trade was a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,271 shares of company stock valued at $525,079 in the last ninety days. 26.50% of the stock is owned by insiders.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD traded up $0.20 on Friday, hitting $23.25. 917,387 shares of the stock were exchanged, compared to its average volume of 2,206,804. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 5.01 and a beta of 0.64. The company's 50-day moving average price is $22.02 and its 200 day moving average price is $18.80. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $25.23.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and increased their target price for the stock from $20.00 to $35.00 in a report on Wednesday, May 21st. HC Wainwright reaffirmed a "buy" rating and issued a $32.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. UBS Group lowered their target price on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Bank of America raised their price objective on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the company a "hold" rating in a research report on Thursday, June 5th. Finally, Morgan Stanley set a $24.00 price objective on shares of ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $28.13.

About ACADIA Pharmaceuticals

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.