OMERS ADMINISTRATION Corp Invests $848,000 in ACADIA Pharmaceuticals Inc. $ACAD

OMERS ADMINISTRATION Corp acquired a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 33,500 shares of the biopharmaceutical company’s stock, valued at approximately $848,000.

A number of other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC boosted its stake in shares of ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 1,005 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 277.5% during the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth $52,000. Institutional investors own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ACAD shares. BMO Capital Markets raised their price objective on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada lifted their price target on ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Weiss Ratings raised ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Citizens Jmp increased their target price on shares of ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.36.

ACADIA Pharmaceuticals Stock Up 0.5%

ACAD stock opened at $29.73 on Friday. The business has a 50 day moving average of $26.64 and a 200 day moving average of $23.63. The firm has a market cap of $5.12 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 22.06 and a beta of 0.81. ACADIA Pharmaceuticals Inc. has a twelve month low of $19.69 and a twelve month high of $30.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The business had revenue of $308.00 million for the quarter, compared to the consensus estimate of $296.55 million. During the same period in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the transaction, the executive vice president owned 18,994 shares in the company, valued at $496,313.22. The trade was a 46.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president directly owned 67,828 shares in the company, valued at $1,981,934.16. This trade represents a 17.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 36,699 shares of company stock worth $1,019,894. 26.20% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.