ACADIA Pharmaceuticals Inc. Forecasted to Post Q1 2023 Earnings of ($0.18) Per Share (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) – Analysts at SVB Leerink dropped their Q1 2023 earnings per share (EPS) estimates for shares of ACADIA Pharmaceuticals in a research note issued to investors on Monday, March 13th. SVB Leerink analyst M. Goodman now expects that the biopharmaceutical company will post earnings per share of ($0.18) for the quarter, down from their prior forecast of ($0.16). The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is ($0.63) per share. SVB Leerink also issued estimates for ACADIA Pharmaceuticals’ Q2 2023 earnings at ($0.09) EPS, Q3 2023 earnings at ($0.04) EPS, Q4 2023 earnings at ($0.02) EPS, FY2023 earnings at ($0.33) EPS, FY2025 earnings at $1.25 EPS, FY2026 earnings at $2.80 EPS and FY2027 earnings at $3.60 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last announced its quarterly earnings data on Monday, February 27th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The company had revenue of $136.49 million during the quarter, compared to analysts’ expectations of $135.18 million. ACADIA Pharmaceuticals had a negative net margin of 41.76% and a negative return on equity of 50.65%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.27) EPS.

Several other research analysts also recently weighed in on the company. Jefferies Financial Group lifted their target price on ACADIA Pharmaceuticals from $10.00 to $15.00 in a research note on Tuesday. HC Wainwright boosted their target price on shares of ACADIA Pharmaceuticals from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim boosted their target price on shares of ACADIA Pharmaceuticals from $22.00 to $25.00 in a research note on Tuesday. Mizuho boosted their target price on shares of ACADIA Pharmaceuticals from $19.00 to $20.00 in a research note on Tuesday. Finally, StockNews.com began coverage on shares of ACADIA Pharmaceuticals in a research note on Thursday. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.44.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $20.62 on Thursday. ACADIA Pharmaceuticals has a fifty-two week low of $12.24 and a fifty-two week high of $28.06. The stock’s 50-day simple moving average is $19.14 and its 200-day simple moving average is $17.11.

Insider Buying and Selling

In other news, CEO Stephen Davis sold 3,904 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $17.13, for a total value of $66,875.52. Following the completion of the transaction, the chief executive officer now owns 84,633 shares of the company’s stock, valued at $1,449,763.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Laura Brege sold 12,500 shares of the firm’s stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $18.25, for a total transaction of $228,125.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen Davis sold 3,904 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $17.13, for a total value of $66,875.52. Following the transaction, the chief executive officer now directly owns 84,633 shares of the company’s stock, valued at approximately $1,449,763.29. The disclosure for this sale can be found here. Insiders sold a total of 23,567 shares of company stock worth $427,672 in the last three months. 28.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACAD. Parkwood LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 45.5% during the second quarter. Parkwood LLC now owns 24,834 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 7,762 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of ACADIA Pharmaceuticals during the third quarter valued at $25,000. Wipfli Financial Advisors LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the third quarter valued at $33,000. IFP Advisors Inc lifted its stake in ACADIA Pharmaceuticals by 284.6% in the 3rd quarter. IFP Advisors Inc now owns 2,027 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in ACADIA Pharmaceuticals in the 3rd quarter worth about $60,000. Institutional investors own 92.79% of the company’s stock.

About ACADIA Pharmaceuticals

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ACADIA Pharmaceuticals, Inc is a biopharmaceutical company, which focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. Its products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.