New York State Common Retirement Fund increased its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 18.2% in the first quarter, Holdings Channel reports. The fund owned 117,470 shares of the biopharmaceutical company’s stock after purchasing an additional 18,070 shares during the period. New York State Common Retirement Fund’s holdings in ACADIA Pharmaceuticals were worth $3,154,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Capital Financial Planning LLC bought a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $25,000. Valeo Financial Advisors LLC bought a new position in ACADIA Pharmaceuticals during the first quarter valued at $27,000. First Quadrant L P CA bought a new position in ACADIA Pharmaceuticals during the first quarter valued at $59,000. Oppenheimer Asset Management Inc. bought a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $96,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ACADIA Pharmaceuticals by 39.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,935 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 2,242 shares during the last quarter. Hedge funds and other institutional investors own 93.35% of the company’s stock.
ACAD stock opened at $25.60 on Wednesday. The stock has a market capitalization of $3.73 billion, a P/E ratio of -13.20 and a beta of 2.94. ACADIA Pharmaceuticals Inc. has a 12 month low of $12.77 and a 12 month high of $28.67. The company has a current ratio of 6.35, a quick ratio of 6.29 and a debt-to-equity ratio of 0.02.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.05). The company had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.93 million. ACADIA Pharmaceuticals had a negative return on equity of 79.74% and a negative net margin of 116.10%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.44) EPS. On average, equities research analysts expect that ACADIA Pharmaceuticals Inc. will post -1.9 EPS for the current fiscal year.
ACAD has been the subject of several research reports. BidaskClub lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 12th. Cantor Fitzgerald reiterated a “buy” rating and set a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 27th. Canaccord Genuity increased their price objective on shares of ACADIA Pharmaceuticals from $23.00 to $27.00 and gave the company an “in-line” rating in a research report on Wednesday, February 27th. Piper Jaffray Companies increased their target price on shares of ACADIA Pharmaceuticals to $30.00 and gave the company an “overweight” rating in a research note on Thursday, February 28th. Finally, ValuEngine raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $31.25.
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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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