ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) posted its earnings results on Tuesday. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.17, Bloomberg Earnings reports. ACADIA Pharmaceuticals had a negative net margin of 948.93% and a negative return on equity of 63.07%. The business had revenue of $30.50 million for the quarter, compared to analyst estimates of $20.02 million. During the same period in the prior year, the company posted ($0.63) EPS. The company’s revenue for the quarter was up 30400.0% on a year-over-year basis.
Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) traded down 3.37% on Tuesday, reaching $29.54. 1,868,821 shares of the company were exchanged. The stock has a 50 day moving average of $28.96 and a 200-day moving average of $32.04. The company’s market capitalization is $3.61 billion. ACADIA Pharmaceuticals has a 52-week low of $20.68 and a 52-week high of $40.83.
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Several research firms have recently issued reports on ACAD. BidaskClub raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “sell” rating in a research note on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating and set a $47.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, April 12th. HC Wainwright reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Wednesday, May 10th. Finally, ValuEngine raised shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. ACADIA Pharmaceuticals currently has an average rating of “Hold” and an average target price of $42.21.
In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 38,097 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $30.00, for a total transaction of $1,142,910.00. Following the transaction, the executive vice president now directly owns 109,253 shares in the company, valued at $3,277,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.25% of the company’s stock.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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