State of New Jersey Common Pension Fund D Purchases 19,703 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

State of New Jersey Common Pension Fund D lifted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 21.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,270 shares of the biopharmaceutical company’s stock after purchasing an additional 19,703 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.07% of ACADIA Pharmaceuticals worth $3,515,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. RTW Investments LP increased its holdings in shares of ACADIA Pharmaceuticals by 18.3% in the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after purchasing an additional 1,793,288 shares during the last quarter. Fred Alger Management LLC increased its stake in ACADIA Pharmaceuticals by 38.7% during the third quarter. Fred Alger Management LLC now owns 3,108,883 shares of the biopharmaceutical company’s stock worth $64,789,000 after acquiring an additional 867,818 shares during the last quarter. Emerald Advisers LLC increased its stake in ACADIA Pharmaceuticals by 4.0% during the third quarter. Emerald Advisers LLC now owns 1,681,052 shares of the biopharmaceutical company’s stock worth $35,033,000 after acquiring an additional 64,100 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in ACADIA Pharmaceuticals by 1.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,303,988 shares of the biopharmaceutical company’s stock worth $27,175,000 after acquiring an additional 12,894 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in ACADIA Pharmaceuticals by 0.4% during the third quarter. Jupiter Asset Management Ltd. now owns 1,276,216 shares of the biopharmaceutical company’s stock worth $26,596,000 after acquiring an additional 4,932 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Trading Up 2.5 %

Shares of NASDAQ ACAD opened at $16.71 on Friday. The stock has a 50 day moving average price of $20.11 and a 200 day moving average price of $23.58. ACADIA Pharmaceuticals Inc. has a 52-week low of $16.16 and a 52-week high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The firm had revenue of $231.04 million during the quarter, compared to analysts’ expectations of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The firm’s revenue for the quarter was up 69.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.26) EPS. Research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 2,716 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $48,534.92. Following the completion of the sale, the chief financial officer now owns 28,742 shares in the company, valued at $513,619.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $31,987.30. Following the completion of the sale, the insider now owns 13,100 shares in the company, valued at $234,097. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark C. Schneyer sold 2,716 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $48,534.92. Following the sale, the chief financial officer now owns 28,742 shares of the company’s stock, valued at approximately $513,619.54. The disclosure for this sale can be found here. Insiders sold a total of 69,383 shares of company stock worth $1,291,362 over the last 90 days. Company insiders own 27.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ACAD. Royal Bank of Canada reduced their price objective on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. JPMorgan Chase & Co. reduced their price objective on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Mizuho cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $39.00 to $25.00 in a research note on Tuesday, March 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, April 10th. Finally, Morgan Stanley cut their target price on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.82.

ACADIA Pharmaceuticals 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.