Brokerages predict that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) will announce $46.52 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for ACADIA Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $45.98 million and the highest estimate coming in at $47.05 million. ACADIA Pharmaceuticals posted sales of $15.29 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 204.3%. The company is scheduled to report its next quarterly earnings results on Tuesday, May 8th.
On average, analysts expect that ACADIA Pharmaceuticals will report full-year sales of $46.52 million for the current fiscal year, with estimates ranging from $257.13 million to $262.77 million. For the next financial year, analysts forecast that the company will post sales of $383.10 million per share, with estimates ranging from $329.75 million to $436.45 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover ACADIA Pharmaceuticals.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.03. The firm had revenue of $43.56 million for the quarter, compared to the consensus estimate of $45.30 million. ACADIA Pharmaceuticals had a negative net margin of 231.71% and a negative return on equity of 73.02%.
ACAD has been the topic of several recent analyst reports. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, January 9th. BidaskClub raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. ACADIA Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $49.50.
In other news, Director Laura Brege sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $30.06, for a total value of $751,500.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $450,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel B. Soland acquired 7,000 shares of the stock in a transaction dated Thursday, March 1st. The stock was acquired at an average price of $23.91 per share, for a total transaction of $167,370.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at $47,820. The disclosure for this purchase can be found here. Insiders sold a total of 135,879 shares of company stock worth $4,175,649 in the last quarter. Company insiders own 22.25% of the company’s stock.
Large investors have recently modified their holdings of the company. Earnest Partners LLC bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $133,000. Turner Investments LLC bought a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $188,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ACADIA Pharmaceuticals by 43.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,670 shares of the biopharmaceutical company’s stock worth $214,000 after purchasing an additional 1,710 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 56.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,509 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 2,358 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $200,000. Hedge funds and other institutional investors own 96.25% of the company’s stock.
Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) opened at $25.21 on Friday. ACADIA Pharmaceuticals has a 1 year low of $22.35 and a 1 year high of $41.20.
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About ACADIA Pharmaceuticals
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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