Wall Street brokerages expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to post earnings of ($0.58) per share for the current quarter, Zacks reports. Three analysts have issued estimates for ACADIA Pharmaceuticals’ earnings. The highest EPS estimate is ($0.50) and the lowest is ($0.64). ACADIA Pharmaceuticals reported earnings per share of ($0.65) in the same quarter last year, which indicates a positive year over year growth rate of 10.8%. The business is scheduled to announce its next earnings results on Tuesday, February 27th.
On average, analysts expect that ACADIA Pharmaceuticals will report full-year earnings of ($2.41) per share for the current fiscal year, with EPS estimates ranging from ($2.47) to ($2.30). For the next financial year, analysts forecast that the company will post earnings of ($1.59) per share, with EPS estimates ranging from ($1.92) to ($1.38). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for ACADIA Pharmaceuticals.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative net margin of 183.39% and a negative return on equity of 66.05%. The business had revenue of $35.58 million during the quarter, compared to analysts’ expectations of $32.03 million. During the same period last year, the company posted ($0.61) EPS. The business’s revenue was up 571.3% on a year-over-year basis.
ACAD has been the subject of a number of recent research reports. Jefferies Group reissued a “buy” rating and issued a $47.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 12th. J P Morgan Chase & Co set a $50.00 price objective on shares of ACADIA Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, October 5th. Leerink Swann reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, October 9th. Zacks Investment Research cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Finally, JMP Securities lifted their price objective on shares of ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.44.
In other news, EVP Glenn Baity sold 37,500 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $40.91, for a total value of $1,534,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.25% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ACAD. Janus Henderson Group PLC bought a new stake in ACADIA Pharmaceuticals during the 2nd quarter valued at about $102,152,000. Goldman Sachs Group Inc. lifted its holdings in ACADIA Pharmaceuticals by 69.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,908,251 shares of the biopharmaceutical company’s stock valued at $53,222,000 after buying an additional 785,352 shares in the last quarter. State Street Corp lifted its holdings in ACADIA Pharmaceuticals by 15.8% during the 2nd quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock valued at $104,551,000 after buying an additional 510,670 shares in the last quarter. Elliott Management Corp lifted its holdings in ACADIA Pharmaceuticals by 61.7% during the 2nd quarter. Elliott Management Corp now owns 1,256,795 shares of the biopharmaceutical company’s stock valued at $35,052,000 after buying an additional 479,413 shares in the last quarter. Finally, Sectoral Asset Management Inc lifted its holdings in ACADIA Pharmaceuticals by 63.7% during the 2nd quarter. Sectoral Asset Management Inc now owns 1,098,809 shares of the biopharmaceutical company’s stock valued at $30,646,000 after buying an additional 427,696 shares in the last quarter. Institutional investors own 94.02% of the company’s stock.
ACADIA Pharmaceuticals (NASDAQ:ACAD) opened at $28.12 on Wednesday. ACADIA Pharmaceuticals has a 52 week low of $25.06 and a 52 week high of $41.20.
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ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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