Zacks: Analysts Anticipate ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to Post -$0.24 Earnings Per Share

Wall Street analysts forecast that ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) will report earnings of ($0.24) per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for ACADIA Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.20) and the lowest estimate coming in at ($0.28). ACADIA Pharmaceuticals posted earnings per share of ($0.27) during the same quarter last year, which indicates a positive year over year growth rate of 11.1%. The business is expected to issue its next quarterly earnings report 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 year, with EPS estimates ranging from ($1.59) to ($1.30). For the next financial year, analysts anticipate that the business will post earnings of ($0.75) per share, with EPS estimates ranging from ($1.42) to $0.09. Zacks’ earnings per share averages are an average based on a survey of research firms that follow ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) last posted its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.21). ACADIA Pharmaceuticals had a negative return on equity of 40.52% and a negative net margin of 43.50%. The firm had revenue of $115.47 million for the quarter, compared to analysts’ expectations of $122.22 million. During the same quarter last year, the company posted ($0.42) EPS. The firm’s revenue was up 8.4% on a year-over-year basis.

A number of equities analysts recently issued reports on ACAD shares. JMP Securities dropped their price objective on ACADIA Pharmaceuticals from $42.00 to $35.00 and set a “market outperform” rating for the company in a report on Tuesday, March 1st. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating and set a $28.00 target price on the stock in a research report on Wednesday, March 23rd. 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. Citigroup raised their price objective on ACADIA Pharmaceuticals from $30.00 to $32.00 in a report on Tuesday, March 1st. Finally, HC Wainwright raised ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the stock from $18.00 to $36.00 in a research report on Wednesday, February 9th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Hold” and an average target price of $29.41.

ACADIA Pharmaceuticals stock traded up $0.85 on Friday, hitting $17.08. 1,327,803 shares of the stock traded hands, compared to its average volume of 1,539,021. The business’s fifty day simple moving average is $21.07 and its 200 day simple moving average is $22.35. ACADIA Pharmaceuticals has a 1 year low of $15.16 and a 1 year high of $28.06. The firm has a market cap of $2.76 billion, a P/E ratio of -12.84 and a beta of 0.67.

In related news, insider James Kihara sold 1,025 shares of the stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $27.05, for a total value of $27,726.25. Following the completion of the transaction, the insider now directly owns 2,433 shares of the company’s stock, valued at approximately $65,812.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Srdjan R. Stankovic sold 2,865 shares of the stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $18.18, for a total transaction of $52,085.70. Following the completion of the transaction, the president now directly owns 55,188 shares of the company’s stock, valued at $1,003,317.84. The disclosure for this sale can be found here. Insiders have sold 10,819 shares of company stock valued at $205,781 in the last three months. 28.50% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in shares of ACADIA Pharmaceuticals by 8.7% in the fourth quarter. Russell Investments Group Ltd. now owns 138,950 shares of the biopharmaceutical company’s stock worth $3,241,000 after purchasing an additional 11,172 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of ACADIA Pharmaceuticals by 21.4% in the third quarter. Rockefeller Capital Management L.P. now owns 281,228 shares of the biopharmaceutical company’s stock worth $4,671,000 after purchasing an additional 49,644 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in shares of ACADIA Pharmaceuticals by 10.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 26,485 shares of the biopharmaceutical company’s stock worth $623,000 after purchasing an additional 2,399 shares during the last quarter. First Quadrant L P CA boosted its holdings in shares of ACADIA Pharmaceuticals by 37.5% in the 4th quarter. First Quadrant L P CA now owns 16,500 shares of the biopharmaceutical company’s stock valued at $385,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Bioimpact Capital LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $2,918,000. 91.74% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Company Profile (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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