ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to Post FY2023 Earnings of ($1.38) Per Share, Jefferies Financial Group Forecasts

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) – Stock analysts at Jefferies Financial Group lifted their FY2023 earnings per share estimates for ACADIA Pharmaceuticals in a research report issued on Wednesday, June 15th. Jefferies Financial Group analyst C. Howerton now anticipates that the biopharmaceutical company will post earnings per share of ($1.38) for the year, up from their previous estimate of ($1.42). Jefferies Financial Group has a “Buy” rating and a $25.00 price target on the stock. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is ($1.41) per share. Jefferies Financial Group also issued estimates for ACADIA Pharmaceuticals’ FY2024 earnings at $0.07 EPS, FY2025 earnings at $2.29 EPS and FY2026 earnings at $4.71 EPS.

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

Several other brokerages have also recently weighed in on ACAD. Cantor Fitzgerald upped their price target on shares of ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 10th. Mizuho cut their price target on shares of ACADIA Pharmaceuticals from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, April 19th. Canaccord Genuity Group raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the company from $30.00 to $31.00 in a research report on Wednesday, March 16th. Citigroup boosted their target price on shares of ACADIA Pharmaceuticals from $30.00 to $32.00 in a research report on Tuesday, March 1st. Finally, StockNews.com started coverage on ACADIA Pharmaceuticals in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $29.26.

Shares of ACAD opened at $19.51 on Monday. ACADIA Pharmaceuticals has a 12-month low of $15.16 and a 12-month high of $28.06. The firm has a fifty day moving average price of $18.55 and a 200-day moving average price of $22.17. The firm has a market capitalization of $3.16 billion, a P/E ratio of -14.67 and a beta of 0.68.

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,483 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $18.18, for a total transaction of $99,680.94. Following the transaction, the chief executive officer now owns 75,875 shares in the company, valued at approximately $1,379,407.50. The transaction 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 company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $18.18, for a total transaction of $52,085.70. Following the transaction, the president now directly owns 55,188 shares in the company, valued at $1,003,317.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,472 shares of company stock valued at $217,476. 28.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ACAD. Allworth Financial LP boosted its position in shares of ACADIA Pharmaceuticals by 1,081.3% in the fourth quarter. Allworth Financial LP now owns 1,075 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 984 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of ACADIA Pharmaceuticals by 74.8% during the fourth quarter. Parallel Advisors LLC now owns 1,365 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 584 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of ACADIA Pharmaceuticals by 19.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,115 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 506 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $76,000. Finally, Point72 Hong Kong Ltd boosted its stake in shares of ACADIA Pharmaceuticals by 664.7% in the first quarter. Point72 Hong Kong Ltd now owns 6,003 shares of the biopharmaceutical company’s stock valued at $145,000 after purchasing an additional 5,218 shares during the period. 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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