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

New York State Teachers Retirement System increased its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 547.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,625 shares of the biopharmaceutical company's stock after purchasing an additional 28,435 shares during the period. New York State Teachers Retirement System's holdings in ACADIA Pharmaceuticals were worth $559,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Amalgamated Bank increased its stake in ACADIA Pharmaceuticals by 757.7% during the 1st quarter. Amalgamated Bank now owns 35,002 shares of the biopharmaceutical company's stock worth $581,000 after purchasing an additional 30,921 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 645.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 310,332 shares of the biopharmaceutical company's stock valued at $5,065,000 after buying an additional 268,714 shares during the period. Illinois Municipal Retirement Fund bought a new stake in shares of ACADIA Pharmaceuticals during the first quarter worth $1,198,000. Oppenheimer Asset Management Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 10.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 35,864 shares of the biopharmaceutical company's stock worth $596,000 after acquiring an additional 3,535 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at $1,133,000. Institutional investors own 96.71% of the company's stock.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,000 shares of ACADIA Pharmaceuticals stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the completion of the transaction, the insider directly owned 20,395 shares of the company's stock, valued at $458,887.50. The trade was a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura Brege sold 14,446 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, June 4th. The stock was 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 of the company's stock, valued at approximately $328,769.10. This trade represents a 48.90% 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 valued at $525,079. 26.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ACAD shares. JPMorgan Chase & Co. upped their target price on shares of ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. BMO Capital Markets lifted their target price on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. JMP Securities reaffirmed a "market outperform" rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Finally, UBS Group cut their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $27.88.

ACADIA Pharmaceuticals Trading Down 4.9%

Shares of ACADIA Pharmaceuticals stock traded down $1.08 during trading on Friday, hitting $20.98. 2,078,938 shares of the stock were exchanged, compared to its average volume of 1,981,584. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 4.52 and a beta of 0.64. The company has a fifty day moving average price of $20.93 and a 200-day moving average price of $18.51. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released 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. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The firm had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The business's revenue for the quarter was up 18.7% compared to the same quarter last year. Equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

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.