ACADIA Pharmaceuticals (NASDAQ:ACAD) Releases Quarterly Earnings Results

ACADIA Pharmaceuticals (NASDAQ:ACAD) released its earnings results on Wednesday. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06, Briefing.com reports. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The business had revenue of $205.83 million for the quarter, compared to analyst estimates of $208.31 million. During the same quarter in the previous year, the company posted ($0.27) earnings per share. The company’s revenue for the quarter was up 73.8% compared to the same quarter last year. ACADIA Pharmaceuticals updated its FY 2024 guidance to EPS.

ACADIA Pharmaceuticals Stock Down 9.2 %

Shares of ACAD stock traded down $1.58 on Thursday, reaching $15.55. 2,811,456 shares of the stock were exchanged, compared to its average volume of 1,757,748. ACADIA Pharmaceuticals has a 1-year low of $15.39 and a 1-year high of $33.99. The stock has a market cap of $2.57 billion, a P/E ratio of -41.82 and a beta of 0.42. The firm has a 50 day moving average of $18.66 and a two-hundred day moving average of $23.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Thursday. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday. Robert W. Baird decreased their price target on ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Oppenheimer reaffirmed a “market perform” rating and issued a $19.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.25.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 5,140 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $92,006.00. Following the completion of the transaction, the chief operating officer now directly owns 36,340 shares of the company’s stock, valued at approximately $650,486. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Brendan Teehan sold 5,140 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $92,006.00. Following the completion of the transaction, the chief operating officer now directly owns 36,340 shares in the company, valued at approximately $650,486. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at $2,513,626.30. The disclosure for this sale can be found here. In the last three months, insiders sold 89,116 shares of company stock worth $1,625,639. Corporate insiders own 27.50% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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.