Equities Analysts Issue Forecasts for ACAD FY2024 Earnings

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – HC Wainwright lowered their FY2024 EPS estimates for ACADIA Pharmaceuticals in a report issued on Thursday, November 7th. HC Wainwright analyst A. Fein now expects that the biopharmaceutical company will post earnings per share of $0.63 for the year, down from their prior estimate of $0.75. HC Wainwright has a “Buy” rating and a $27.00 price target on the stock. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.51 per share. HC Wainwright also issued estimates for ACADIA Pharmaceuticals’ FY2026 earnings at $2.25 EPS and FY2027 earnings at $2.42 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 27.29%. The firm had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. During the same period last year, the firm earned ($0.40) EPS. The business’s quarterly revenue was up 18.3% compared to the same quarter last year.

ACAD has been the topic of several other reports. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday. Morgan Stanley lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $28.00 to $20.00 in a report on Wednesday, August 7th. Royal Bank of Canada decreased their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Citigroup cut their target price on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Trading Up 2.7 %

Shares of ACADIA Pharmaceuticals stock opened at $17.66 on Monday. The firm has a market capitalization of $2.93 billion, a PE ratio of 22.64 and a beta of 0.38. The firm’s 50 day moving average is $15.45 and its 200 day moving average is $15.97. ACADIA Pharmaceuticals has a 1 year low of $14.15 and a 1 year high of $32.59.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Park Place Capital Corp acquired a new position in ACADIA Pharmaceuticals during the third quarter worth $25,000. Values First Advisors Inc. purchased a new stake in ACADIA Pharmaceuticals during the third quarter worth about $27,000. Covestor Ltd increased its holdings in ACADIA Pharmaceuticals by 70.5% during the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 840 shares during the last quarter. Headlands Technologies LLC purchased a new stake in ACADIA Pharmaceuticals during the first quarter worth about $48,000. Finally, Quest Partners LLC boosted its position in ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the period. 96.71% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the sale, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the transaction, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 31,747 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $485,094.16. Following the transaction, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,014 shares of company stock valued at $779,494. 28.30% of the stock is currently owned by insiders.

About ACADIA Pharmaceuticals

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.