Brokerages Expect ACADIA Pharmaceuticals Inc. (ACAD) Will Announce Earnings of -$0.71 Per Share
Equities analysts expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to post earnings of ($0.71) per share for the current quarter, according to Zacks. Three analysts have provided estimates for ACADIA Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.69) and the lowest estimate coming in at ($0.74). ACADIA Pharmaceuticals posted earnings per share of ($0.63) in the same quarter last year, which would suggest a negative year over year growth rate of 12.7%. The company is expected to report its next earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that ACADIA Pharmaceuticals will report full-year earnings of ($2.82) per share for the current year, with EPS estimates ranging from ($2.91) to ($2.70). For the next fiscal year, analysts anticipate that the business will report earnings of ($2.07) per share, with EPS estimates ranging from ($2.47) to ($1.54). Zacks’ EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for ACADIA Pharmaceuticals.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.72) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.01. The business had revenue of $15.30 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted ($0.45) earnings per share.
ACAD has been the subject of a number of analyst reports. Zacks Investment Research cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “sell” rating in a research note on Monday. HC Wainwright reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, May 10th. ValuEngine raised shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $47.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 12th. Finally, BidaskClub raised shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 21st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $42.14.
In other news, EVP Glenn Baity sold 1,903 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $30.00, for a total transaction of $57,090.00. Following the completion of the sale, the executive vice president now directly owns 83,059 shares in the company, valued at $2,491,770. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 22.25% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in ACADIA Pharmaceuticals by 23.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 617 shares during the period. Russell Investments Group Ltd. purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth $145,000. PNC Financial Services Group Inc. raised its position in ACADIA Pharmaceuticals by 138.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 2,548 shares during the last quarter. Nisa Investment Advisors LLC raised its position in ACADIA Pharmaceuticals by 12.8% in the first quarter. Nisa Investment Advisors LLC now owns 4,510 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 510 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in ACADIA Pharmaceuticals during the first quarter worth $161,000. 97.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of ACADIA Pharmaceuticals (ACAD) traded up 1.40% during mid-day trading on Friday, reaching $30.51. The company had a trading volume of 574,526 shares. The company’s 50-day moving average price is $27.92 and its 200-day moving average price is $32.16. ACADIA Pharmaceuticals has a 52-week low of $20.68 and a 52-week high of $40.83. The company’s market capitalization is $3.72 billion.
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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