State Street Corp Has $91.88 Million Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

State Street Corp boosted its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3.0% in the third quarter, HoldingsChannel.com reports. The firm owned 5,973,874 shares of the biopharmaceutical company’s stock after buying an additional 173,084 shares during the period. State Street Corp’s holdings in ACADIA Pharmaceuticals were worth $91,878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ACAD. AlphaCentric Advisors LLC increased its holdings in ACADIA Pharmaceuticals by 122.2% in the second quarter. AlphaCentric Advisors LLC now owns 100,000 shares of the biopharmaceutical company’s stock valued at $1,625,000 after purchasing an additional 55,000 shares during the period. Bank of New York Mellon Corp increased its holdings in ACADIA Pharmaceuticals by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 525,566 shares of the biopharmaceutical company’s stock valued at $8,540,000 after purchasing an additional 22,513 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in ACADIA Pharmaceuticals by 85.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 108,838 shares of the biopharmaceutical company’s stock valued at $1,769,000 after purchasing an additional 49,992 shares during the period. Commonwealth Equity Services LLC increased its holdings in 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 purchasing an additional 778 shares during the period. Finally, Natixis Advisors LLC increased its holdings in ACADIA Pharmaceuticals by 43.2% in the second quarter. Natixis Advisors LLC now owns 25,527 shares of the biopharmaceutical company’s stock valued at $415,000 after purchasing an additional 7,697 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $17.34 on Tuesday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $32.59. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 22.23 and a beta of 0.40. The firm’s 50-day simple moving average is $16.06 and its 200 day simple moving average is $16.19.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. During the same quarter last year, the firm earned ($0.40) EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, sell-side analysts predict 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 firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 62,105 shares in the company, valued at $1,043,985.05. This trade represents a 14.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the sale, the insider now owns 19,863 shares of the company’s stock, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,661 shares of company stock valued at $414,551 in the last 90 days. 28.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.