ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Forecasted to Post Q2 2023 Earnings of ($0.22) Per Share

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) – Stock analysts at Zacks Research issued their Q2 2023 EPS estimates for ACADIA Pharmaceuticals in a research report issued on Monday, May 22nd. Zacks Research analyst A. Chakroborty expects that the biopharmaceutical company will earn ($0.22) per share for the quarter. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is ($0.55) per share. Zacks Research also issued estimates for ACADIA Pharmaceuticals’ Q3 2023 earnings at ($0.10) EPS, Q4 2023 earnings at ($0.04) EPS, FY2023 earnings at ($0.63) EPS, Q1 2024 earnings at ($0.25) EPS, Q2 2024 earnings at ($0.12) EPS, Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.49) EPS, Q1 2025 earnings at ($0.13) EPS and FY2025 earnings at $0.27 EPS.

A number of other brokerages have also weighed in on ACAD. Cantor Fitzgerald raised their price objective on ACADIA Pharmaceuticals from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, March 14th. Citigroup raised their price objective on ACADIA Pharmaceuticals from $21.00 to $21.60 in a research report on Tuesday, May 9th. StockNews.com started coverage on ACADIA Pharmaceuticals in a research report on Thursday, May 18th. They set a “buy” rating for the company. 1-800-FLOWERS.COM reaffirmed a “maintains” rating on shares of ACADIA Pharmaceuticals in a research report on Monday. Finally, Credit Suisse Group lifted their target price on ACADIA Pharmaceuticals from $93.00 to $95.00 in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $25.43.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $24.45 on Thursday. The company’s fifty day moving average price is $20.44 and its 200 day moving average price is $18.48. ACADIA Pharmaceuticals has a 1 year low of $12.24 and a 1 year high of $26.04. The stock has a market capitalization of $3.98 billion, a P/E ratio of -26.87 and a beta of 0.54.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last announced its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.06). The company had revenue of $118.46 million during the quarter, compared to analysts’ expectations of $120.29 million. ACADIA Pharmaceuticals had a negative net margin of 28.05% and a negative return on equity of 35.70%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.70) earnings per share.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ACAD. Raymond James Financial Services Advisors Inc. acquired a new stake in ACADIA Pharmaceuticals during the 1st quarter valued at $572,000. HighTower Advisors LLC acquired a new position in ACADIA Pharmaceuticals in the first quarter valued at about $1,077,000. MetLife Investment Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 54.0% in the first quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock valued at $1,607,000 after purchasing an additional 23,265 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of ACADIA Pharmaceuticals by 3.9% in the first quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock valued at $3,232,000 after purchasing an additional 5,011 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at about $1,380,000. Institutional investors and hedge funds own 92.79% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Mark C. Schneyer sold 1,916 shares of the company’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $18.16, for a total value of $34,794.56. Following the completion of the sale, the chief financial officer now owns 7,477 shares in the company, valued at $135,782.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Bros. Advisors Lp Baker purchased 209,053 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was bought at an average price of $25.41 per share, for a total transaction of $5,312,036.73. Following the purchase, the director now owns 38,811,515 shares in the company, valued at approximately $986,200,596.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark C. Schneyer sold 1,916 shares of the company’s stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $18.16, for a total value of $34,794.56. Following the sale, the chief financial officer now owns 7,477 shares of the company’s stock, valued at approximately $135,782.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,326 shares of company stock worth $1,280,295. 28.40% of the stock is owned by company insiders.

About ACADIA Pharmaceuticals

(Get Rating)

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.