Public Sector Pension Investment Board Has $10.39 Million Stock Position in ACADIA Pharmaceuticals Inc. $ACAD

Public Sector Pension Investment Board increased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 15.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 486,988 shares of the biopharmaceutical company’s stock after purchasing an additional 64,736 shares during the quarter. Public Sector Pension Investment Board’s holdings in ACADIA Pharmaceuticals were worth $10,392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ACAD. Geneos Wealth Management Inc. boosted its holdings in ACADIA Pharmaceuticals by 113.0% in the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 756 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 107.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 885 shares in the last quarter. USA Financial Formulas acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter worth approximately $41,000. GAMMA Investing LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 25.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 690 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter worth $177,000. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $22.03 on Tuesday. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $28.35. The firm has a 50-day moving average price of $26.01 and a two-hundred day moving average price of $24.45. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 7.73 and a beta of 0.66.

Analyst Ratings Changes

Several research analysts have weighed in on ACAD shares. Royal Bank Of Canada lowered their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday, February 3rd. Mizuho upped their target price on shares of ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, January 5th. JPMorgan Chase & Co. decreased their price objective on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Finally, Citigroup raised their target price on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.30.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Jennifer J. Rhodes sold 6,950 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $23.38, for a total value of $162,491.00. Following the transaction, the executive vice president owned 7,609 shares of the company’s stock, valued at approximately $177,898.42. The trade was a 47.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.30% of the company’s stock.

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.