68,225 Shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue purchased a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 68,225 shares of the biopharmaceutical company's stock, valued at approximately $1,133,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ACAD. Exchange Traded Concepts LLC purchased a new position in ACADIA Pharmaceuticals in the first quarter worth $29,000. Virtus Fund Advisers LLC bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $39,000. GAMMA Investing LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 627.3% in 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 during the 4th quarter valued at about $64,000. Finally, Globeflex Capital L P bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $168,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 3,498 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $14.60, for a total value of $51,070.80. Following the completion of the sale, the executive vice president now directly owns 62,773 shares of the company's stock, valued at approximately $916,485.80. This trade represents a 5.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Laura Brege sold 14,446 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total transaction of $314,633.88. Following the sale, the director now directly owns 15,095 shares in the company, valued at $328,769.10. The trade was a 48.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,007 shares of company stock worth $580,446 over the last quarter. Corporate insiders own 26.50% of the company's stock.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD traded up $0.06 during mid-day trading on Friday, reaching $22.27. 190,878 shares of the company's stock traded hands, compared to its average volume of 1,949,497. The company has a 50 day moving average price of $19.45 and a 200-day moving average price of $18.19. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 4.80 and a beta of 0.65. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $244.32 million for 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 business's quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. As a group, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ACAD. Mizuho boosted their target price on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Robert W. Baird boosted their price objective on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Wall Street Zen raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Needham & Company LLC reiterated a "buy" rating and issued a $30.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday. Finally, BMO Capital Markets boosted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Six investment 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.