Zacks: Analysts Anticipate ACADIA Pharmaceuticals Inc. (ACAD) Will Post Earnings of -$0.71 Per Share
Equities research analysts expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to report ($0.71) earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for ACADIA Pharmaceuticals’ earnings. The highest EPS estimate is ($0.69) and the lowest is ($0.74). ACADIA Pharmaceuticals reported earnings per share of ($0.63) during the same quarter last year, which suggests a negative year over year growth rate of 12.7%. The company is expected to announce its next quarterly earnings results on Thursday, August 3rd.
On average, analysts expect that ACADIA Pharmaceuticals will report full year earnings of ($2.82) per share for the current financial year, with EPS estimates ranging from ($2.91) to ($2.70). For the next financial year, analysts forecast that the business will report earnings of ($2.07) per share, with EPS estimates ranging from ($2.47) to ($1.54). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for ACADIA Pharmaceuticals.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.01. The company had revenue of $15.30 million for the quarter, compared to analyst estimates of $15.17 million. ACADIA Pharmaceuticals had a negative return on equity of 63.07% and a negative net margin of 948.93%. During the same quarter last year, the firm posted ($0.45) EPS.
Several research firms have weighed in on ACAD. Vetr lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating and set a $41.20 target price on the stock. in a report on Monday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $49.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, March 1st. Zacks Investment Research raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, March 17th. HC Wainwright reissued a “buy” rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 3rd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $47.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $42.88.
Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) traded down 1.24% on Tuesday, reaching $28.65. The company’s stock had a trading volume of 132,658 shares. ACADIA Pharmaceuticals has a 1-year low of $20.68 and a 1-year high of $40.83. The stock’s market capitalization is $3.50 billion. The company has a 50 day moving average of $28.10 and a 200 day moving average of $32.03.
In related news, EVP Glenn Baity sold 1,903 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $30.00, for a total transaction of $57,090.00. Following the transaction, the executive vice president now directly owns 83,059 shares in the company, valued at $2,491,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.25% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its position in ACADIA Pharmaceuticals by 57.6% in the first quarter. Point72 Asset Management L.P. now owns 1,931,200 shares of the biopharmaceutical company’s stock valued at $66,395,000 after buying an additional 706,200 shares during the period. Janus Capital Management LLC increased its position in ACADIA Pharmaceuticals by 0.8% in the first quarter. Janus Capital Management LLC now owns 3,418,861 shares of the biopharmaceutical company’s stock valued at $117,539,000 after buying an additional 26,690 shares during the period. HWG Holdings LP acquired a new position in ACADIA Pharmaceuticals during the first quarter valued at $3,472,000. Flagship Harbor Advisors LLC acquired a new position in ACADIA Pharmaceuticals during the first quarter valued at $202,000. Finally, Credit Suisse AG increased its position in ACADIA Pharmaceuticals by 59.2% in the first quarter. Credit Suisse AG now owns 341,746 shares of the biopharmaceutical company’s stock valued at $11,749,000 after buying an additional 127,125 shares during the period. Hedge funds and other institutional investors own 97.19% of the company’s stock.
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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