Teachers Retirement System of The State of Kentucky Invests $706,000 in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Key Points

• The Teachers Retirement System of The State of Kentucky acquired **42,500 shares** of ACADIA Pharmaceuticals, valued at approximately **$706,000**, during the first quarter.
• ACADIA Pharmaceuticals reported a **$0.11 EPS** for the last quarter, beating estimates by $0.01, with a revenue of **$244.32 million**, reflecting an **18.7% increase** year-over-year.
• Analysts have issued positive ratings for ACADIA Pharmaceuticals, with JPMorgan raising its price target from **$30.00 to $34.00**, while Deutsche Bank upgraded their recommendation from "hold" to **"buy."**

Teachers Retirement System of The State of Kentucky acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 42,500 shares of the biopharmaceutical company's stock, valued at approximately $706,000.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in ACADIA Pharmaceuticals by 0.8% during 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. bought a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter valued at $60,845,000. First Trust Advisors LP raised its position in shares of ACADIA Pharmaceuticals by 27.0% during the 4th 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 last quarter. Point72 Asset Management L.P. bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $40,935,000. Finally, Norges Bank bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $25,555,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Insider Buying and Selling

In other news, insider James Kihara sold 4,000 shares of the stock in a transaction dated 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 in the company, valued at $458,887.50. This represents a 16.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Laura Brege sold 14,446 shares of the stock in a transaction dated 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 owned 15,095 shares of the company's stock, valued at approximately $328,769.10. This represents a 48.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,271 shares of company stock valued at $525,079. Company insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD traded up $0.21 on Tuesday, reaching $22.83. The company had a trading volume of 324,477 shares, compared to its average volume of 2,191,464. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 5.04 and a beta of 0.64. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $25.23. The company's fifty day moving average is $22.05 and its 200-day moving average is $18.89.

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

Analysts Set New Price Targets

ACAD has been the subject of several recent research reports. JMP Securities reiterated a "market outperform" rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. JPMorgan Chase & Co. upped their target price on shares of ACADIA Pharmaceuticals from $30.00 to $34.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. HC Wainwright reiterated a "buy" rating and set a $32.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Robert W. Baird upped their target price on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Finally, Needham & Company LLC restated a "buy" rating and issued a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company 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.