Mutual of America Capital Management LLC Makes New $298,000 Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Mutual of America Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,930 shares of the biopharmaceutical company’s stock, valued at approximately $298,000.

A number of other institutional investors also recently modified their holdings of ACAD. GF Fund Management CO. LTD. increased its stake in ACADIA Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,260 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 766 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock valued at $230,000 after buying an additional 795 shares in the last quarter. Xponance Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 14.1% during the first quarter. Xponance Inc. now owns 11,585 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 1,434 shares during the last quarter. Federated Hermes Inc. increased its position in shares of ACADIA Pharmaceuticals by 231.5% during the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,618 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter worth about $29,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ACAD. Royal Bank Of Canada boosted their price objective on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the stock from $20.00 to $35.00 in a report on Wednesday, May 21st. BMO Capital Markets raised their price target on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ACADIA Pharmaceuticals from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $28.88.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $25.45 on Wednesday. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $25.88. The stock’s fifty day moving average price is $22.52 and its two-hundred day moving average price is $19.36. The firm has a market cap of $4.29 billion, a PE ratio of 19.14, a PEG ratio of 6.32 and a beta of 0.70.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $264.57 million for the quarter, compared to analyst estimates of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Activity

In other ACADIA Pharmaceuticals news, Director Laura Brege sold 14,446 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the transaction, the director owned 15,095 shares of the company’s stock, valued at $328,769.10. The trade was a 48.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Kihara sold 4,000 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.50, for a total transaction of $90,000.00. Following the completion of the sale, the insider directly owned 20,395 shares in the company, valued at approximately $458,887.50. The trade was a 16.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,446 shares of company stock worth $454,634. 28.30% of the stock is owned by corporate insiders.

About ACADIA Pharmaceuticals

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.