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

State Street Corp raised its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,973,874 shares of the biopharmaceutical company's stock after buying an additional 173,084 shares during the quarter. State Street Corp owned 3.59% of ACADIA Pharmaceuticals worth $91,878,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Marshall Wace LLP increased its stake in ACADIA Pharmaceuticals by 431.1% in the second quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company's stock valued at $45,083,000 after acquiring an additional 2,251,940 shares during the period. Millennium Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 36.2% in the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company's stock valued at $47,738,000 after purchasing an additional 781,070 shares during the period. Iron Triangle Partners LP bought a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at approximately $11,535,000. Dimensional Fund Advisors LP acquired a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $10,550,000. Finally, Eventide Asset Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth approximately $8,882,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, 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 value of $68,467.13. Following the completion of the transaction, the insider now directly owns 19,863 shares in the company, valued at $333,897.03. This trade represents a 17.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the chief financial officer now directly owns 53,302 shares in the company, 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 valued at $414,551 over the last three months. Company insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Price Performance

ACAD traded up $0.07 during trading on Tuesday, reaching $17.41. The company had a trading volume of 1,215,204 shares, compared to its average volume of 1,670,378. The company has a market cap of $2.90 billion, a P/E ratio of 22.32 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $32.59. The business's fifty day moving average price is $16.06 and its 200 day moving average price is $16.19.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $250.40 million for the quarter, compared to analysts' expectations of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm's revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) EPS. As a group, sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ACAD shares. Raymond James restated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. HC Wainwright reiterated a "buy" rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Needham & Company LLC restated a "buy" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Finally, StockNews.com lowered shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.