Analysts Expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Will Post Earnings of -$0.24 Per Share

Brokerages expect that ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) will announce earnings of ($0.24) per share for the current quarter, Zacks reports. Eight analysts have made estimates for ACADIA Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.28) and the highest estimate coming in at ($0.20). ACADIA Pharmaceuticals posted earnings of ($0.27) per share in the same quarter last year, which suggests a positive year over year growth rate of 11.1%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that ACADIA Pharmaceuticals will report full-year earnings of ($1.41) per share for the current fiscal year, with EPS estimates ranging from ($1.59) to ($1.30). For the next fiscal year, analysts forecast that the business will report earnings of ($0.75) per share, with EPS estimates ranging from ($1.42) to $0.09. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.27. The business had revenue of $115.47 million for the quarter, compared to analyst estimates of $122.22 million. ACADIA Pharmaceuticals had a negative return on equity of 40.52% and a negative net margin of 43.50%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.42) earnings per share.

Several brokerages have issued reports on ACAD. The Goldman Sachs Group cut their price target on ACADIA Pharmaceuticals from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, March 7th. Mizuho lowered their price objective on ACADIA Pharmaceuticals from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, April 19th. Morgan Stanley reissued a “hold” rating and issued a $24.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 18th. Cantor Fitzgerald increased their price objective on ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 10th. Finally, HC Wainwright raised ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $36.00 in a research note on Wednesday, February 9th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $29.41.

In other ACADIA Pharmaceuticals news, President Srdjan R. Stankovic sold 2,865 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $18.18, for a total value of $52,085.70. Following the completion of the sale, the president now directly owns 55,188 shares of the company’s stock, valued at $1,003,317.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Kihara sold 1,025 shares of the firm’s stock in a transaction on Friday, April 8th. The stock was sold at an average price of $27.05, for a total value of $27,726.25. Following the completion of the sale, the insider now directly owns 2,433 shares of the company’s stock, valued at $65,812.65. The disclosure for this sale can be found here. Insiders have sold 17,861 shares of company stock valued at $373,381 over the last ninety days. 28.50% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in ACAD. Morgan Stanley increased its position in ACADIA Pharmaceuticals by 30.0% in the second quarter. Morgan Stanley now owns 835,652 shares of the biopharmaceutical company’s stock worth $20,381,000 after buying an additional 192,602 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 319.2% in the third quarter. SG Americas Securities LLC now owns 61,655 shares of the biopharmaceutical company’s stock worth $1,024,000 after acquiring an additional 46,947 shares during the period. Deutsche Bank AG boosted its holdings in shares of ACADIA Pharmaceuticals by 25.1% in the third quarter. Deutsche Bank AG now owns 168,967 shares of the biopharmaceutical company’s stock worth $2,807,000 after acquiring an additional 33,924 shares during the period. Truist Financial Corp boosted its holdings in shares of ACADIA Pharmaceuticals by 19.5% in the third quarter. Truist Financial Corp now owns 104,000 shares of the biopharmaceutical company’s stock worth $1,727,000 after acquiring an additional 16,973 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of ACADIA Pharmaceuticals by 775.3% in the third quarter. Russell Investments Group Ltd. now owns 127,778 shares of the biopharmaceutical company’s stock worth $2,120,000 after acquiring an additional 113,179 shares during the period. 91.74% of the stock is owned by institutional investors and hedge funds.

NASDAQ:ACAD traded up $0.82 on Friday, hitting $16.85. The stock had a trading volume of 2,642,224 shares, compared to its average volume of 1,737,200. The business’s fifty day moving average is $22.56 and its 200 day moving average is $22.56. The company has a market cap of $2.72 billion, a PE ratio of -12.67 and a beta of 0.67. ACADIA Pharmaceuticals has a 52 week low of $15.16 and a 52 week high of $28.06.

About ACADIA Pharmaceuticals (Get Rating)

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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Earnings History and Estimates for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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