New York State Teachers Retirement System Has $559,000 Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

New York State Teachers Retirement System grew its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 547.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,625 shares of the biopharmaceutical company's stock after buying an additional 28,435 shares during the period. New York State Teachers Retirement System's holdings in ACADIA Pharmaceuticals were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock valued at $255,939,000 after acquiring an additional 104,444 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at approximately $60,845,000. First Trust Advisors LP increased its stake in shares of ACADIA Pharmaceuticals by 27.0% during the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock valued at $49,547,000 after acquiring an additional 574,251 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $40,935,000. Finally, Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $25,555,000. Institutional investors own 96.71% of the company's stock.

Analyst Upgrades and Downgrades

ACAD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. 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 note on Thursday, June 5th. Deutsche Bank Aktiengesellschaft upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and raised their price objective for the company from $20.00 to $35.00 in a research note on Wednesday, May 21st. HC Wainwright reiterated a "buy" rating and set a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Finally, Cantor Fitzgerald upgraded shares of ACADIA Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.88.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, Director Laura Brege sold 14,446 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total transaction of $314,633.88. Following the transaction, the director directly owned 15,095 shares in the company, valued at approximately $328,769.10. The trade was a 48.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James Kihara sold 4,000 shares of ACADIA Pharmaceuticals 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 transaction, the insider owned 20,395 shares in the company, valued at approximately $458,887.50. The trade was a 16.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,271 shares of company stock worth $525,079. Corporate insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD traded up $0.91 on Monday, hitting $21.89. 1,625,060 shares of the stock were exchanged, compared to its average volume of 1,980,159. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $25.23. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 4.52 and a beta of 0.64. The company's 50-day moving average price is $20.93 and its two-hundred day moving average price is $18.52.

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 for the quarter, topping the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The firm had revenue of $244.32 million for the quarter, compared to analysts' expectations of $239.32 million. During the same period in the previous year, the company posted $0.10 EPS. The company's quarterly revenue was up 18.7% compared to the same quarter last year. Equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

ACADIA Pharmaceuticals Company 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.