ACADIA Pharmaceuticals Inc. (ACAD) Shares Sold by California Public Employees Retirement System

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California Public Employees Retirement System trimmed its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 4.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,500 shares of the biopharmaceutical company’s stock after selling 7,300 shares during the quarter. California Public Employees Retirement System’s holdings in ACADIA Pharmaceuticals were worth $3,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of ACAD. Teacher Retirement System of Texas grew its stake in ACADIA Pharmaceuticals by 317.0% during the 4th quarter. Teacher Retirement System of Texas now owns 33,642 shares of the biopharmaceutical company’s stock worth $1,013,000 after buying an additional 25,575 shares during the last quarter. Bank of New York Mellon Corp grew its stake in ACADIA Pharmaceuticals by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 456,482 shares of the biopharmaceutical company’s stock worth $13,746,000 after buying an additional 3,786 shares during the last quarter. BlackRock Inc. grew its stake in ACADIA Pharmaceuticals by 5.0% during the 4th quarter. BlackRock Inc. now owns 6,710,697 shares of the biopharmaceutical company’s stock worth $202,060,000 after buying an additional 321,950 shares during the last quarter. Geode Capital Management LLC grew its stake in ACADIA Pharmaceuticals by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 869,977 shares of the biopharmaceutical company’s stock worth $26,195,000 after buying an additional 24,847 shares during the last quarter. Finally, Emory University grew its stake in ACADIA Pharmaceuticals by 27.9% during the 4th quarter. Emory University now owns 67,758 shares of the biopharmaceutical company’s stock worth $2,040,000 after buying an additional 14,781 shares during the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Shares of ACADIA Pharmaceuticals opened at $15.27 on Monday, Marketbeat.com reports. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.51 and a 1 year high of $41.20. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -6.47 and a beta of 3.39.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Friday, May 4th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.12. ACADIA Pharmaceuticals had a negative return on equity of 71.47% and a negative net margin of 161.44%. The company had revenue of $48.90 million during the quarter, compared to analyst estimates of $47.06 million. During the same quarter in the previous year, the firm posted ($0.72) EPS. The firm’s quarterly revenue was up 219.6% on a year-over-year basis. sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post -1.71 earnings per share for the current fiscal year.

ACAD has been the subject of a number of recent research reports. ValuEngine downgraded ACADIA Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, March 23rd. BidaskClub downgraded ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. JPMorgan Chase & Co. set a $50.00 price objective on ACADIA Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, April 10th. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “sell” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday, May 1st. Finally, HC Wainwright restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Wednesday, May 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $47.45.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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