State Street Corp Purchases 173,084 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

State Street Corp grew its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,973,874 shares of the biopharmaceutical company’s stock after purchasing an additional 173,084 shares during the period. State Street Corp owned approximately 3.59% of ACADIA Pharmaceuticals worth $91,878,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Arizona State Retirement System lifted its holdings in shares of ACADIA Pharmaceuticals by 2.2% in the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock valued at $487,000 after purchasing an additional 655 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of ACADIA Pharmaceuticals by 5.6% in the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after acquiring an additional 778 shares during the last quarter. Quest Partners LLC increased its position in shares of ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 1,047 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ACADIA Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 1,066 shares during the last quarter. Finally, Park Place Capital Corp acquired a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at about $25,000. 96.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ACAD. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $25.60.

ACADIA Pharmaceuticals Trading Up 0.5 %

Shares of ACAD stock opened at $17.34 on Tuesday. The stock has a market cap of $2.89 billion, a P/E ratio of 22.23 and a beta of 0.40. The stock has a 50 day simple moving average of $16.06 and a 200 day simple moving average of $16.19. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.15 and a 1 year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $248.83 million. During the same period in the prior year, the company earned ($0.40) earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. Analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current year.

Insiders Place Their Bets

In other news, COO Brendan Teehan sold 10,329 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $173,630.49. Following the completion of the transaction, the chief operating officer now directly owns 62,105 shares in the company, valued at approximately $1,043,985.05. This represents a 14.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the transaction, the chief financial officer now owns 53,302 shares of the company’s stock, valued at $896,006.62. This trade represents a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock worth $414,551 over the last three months. Insiders own 28.30% of the company’s stock.

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.