FY2024 EPS Estimates for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Reduced by Zacks Research

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADFree Report) – Investment analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for ACADIA Pharmaceuticals in a research note issued on Tuesday, March 19th. Zacks Research analyst A. Chakraborty now expects that the biopharmaceutical company will post earnings of $0.64 per share for the year, down from their previous forecast of $0.89. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.66 per share. Zacks Research also issued estimates for ACADIA Pharmaceuticals’ Q4 2024 earnings at $0.18 EPS, Q1 2025 earnings at $0.30 EPS, Q4 2025 earnings at $0.21 EPS and FY2025 earnings at $0.94 EPS.

A number of other equities analysts also recently issued reports on ACAD. Mizuho downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the stock from $39.00 to $25.00 in a research note on Tuesday, March 12th. TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. Oppenheimer restated a “market perform” rating and set a $25.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. Royal Bank of Canada reduced their target price on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, December 12th. They issued a “buy” rating and a $25.00 target price on the stock. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.35.

View Our Latest Stock Analysis on ACAD

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $18.66 on Thursday. The company has a market cap of $3.07 billion, a P/E ratio of -49.11 and a beta of 0.40. The firm has a fifty day moving average of $24.91 and a two-hundred day moving average of $24.79. ACADIA Pharmaceuticals has a one year low of $17.71 and a one year high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. During the same quarter in the prior year, the business earned ($0.26) earnings per share. ACADIA Pharmaceuticals’s revenue was up 69.3% compared to the same quarter last year.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ACAD. Qube Research & Technologies Ltd increased its position in shares of ACADIA Pharmaceuticals by 757.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock worth $4,437,000 after purchasing an additional 188,080 shares during the last quarter. RTW Investments LP lifted its holdings in ACADIA Pharmaceuticals by 18.3% during the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after buying an additional 1,793,288 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of ACADIA Pharmaceuticals by 9.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company’s stock worth $22,363,000 after acquiring an additional 91,641 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of ACADIA Pharmaceuticals by 1,284.6% in the 3rd quarter. SG Americas Securities LLC now owns 72,455 shares of the biopharmaceutical company’s stock valued at $1,510,000 after acquiring an additional 67,222 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of ACADIA Pharmaceuticals by 23.7% during the 3rd quarter. Principal Financial Group Inc. now owns 78,140 shares of the biopharmaceutical company’s stock valued at $1,628,000 after acquiring an additional 14,958 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 3,732 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $29.96, for a total value of $111,810.72. Following the completion of the transaction, the chief executive officer now directly owns 96,521 shares in the company, valued at $2,891,769.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 12,500 shares of company stock worth $335,105. 27.50% of the stock is currently owned by company insiders.

About ACADIA Pharmaceuticals

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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.

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Earnings History and Estimates for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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