Oregon Public Employees Retirement Fund Acquires New Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Oregon Public Employees Retirement Fund acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 28,200 shares of the biopharmaceutical company's stock, valued at approximately $468,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock worth $255,939,000 after buying an additional 104,444 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth approximately $60,845,000. First Trust Advisors LP raised its holdings in shares of ACADIA Pharmaceuticals by 27.0% in the 4th quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock worth $49,547,000 after buying an additional 574,251 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $40,935,000. Finally, Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $25,555,000. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock traded down $1.08 during trading on Friday, hitting $20.98. The company had a trading volume of 2,078,938 shares, compared to its average volume of 1,981,035. The firm has a market capitalization of $3.51 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 4.65 and a beta of 0.64. The stock's 50-day moving average price is $20.81 and its 200 day moving average price is $18.47. 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 announced its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, beating 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 business had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. During the same period in the previous year, the business earned $0.10 earnings per share. The company's revenue was up 18.7% on a year-over-year basis. On average, research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Laura Brege sold 14,446 shares of the business's 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 completion of the transaction, the director directly owned 15,095 shares in the company, valued at $328,769.10. The trade was a 48.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Kihara sold 4,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 20,395 shares of the company's stock, valued at approximately $458,887.50. This represents a 16.40% 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 worth $525,079 over the last three months. Corporate insiders own 26.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ACAD. Mizuho increased their price target on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their price target for the company from $20.00 to $35.00 in a research note on Wednesday, May 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Finally, Cantor Fitzgerald raised ACADIA Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Six equities research 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 company. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $27.88.

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.