ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Expected to Announce Quarterly Sales of $19.59 Million
Equities research analysts predict that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) will announce sales of $19.59 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for ACADIA Pharmaceuticals’ earnings, with estimates ranging from $18.80 million to $20.60 million. ACADIA Pharmaceuticals posted sales of $100,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 19,490%. The business is scheduled to issue its next quarterly earnings results on Thursday, August 3rd.
On average, analysts expect that ACADIA Pharmaceuticals will report full-year sales of $19.59 million for the current financial year, with estimates ranging from $81.81 million to $91.40 million. For the next year, analysts forecast that the business will report sales of $210.14 million per share, with estimates ranging from $174.70 million to $233.94 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for ACADIA Pharmaceuticals.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.73) by $0.01. ACADIA Pharmaceuticals had a negative net margin of 948.93% and a negative return on equity of 63.07%. The company had revenue of $15.30 million during the quarter, compared to the consensus estimate of $15.17 million. During the same period last year, the firm earned ($0.45) EPS.
Several research firms have recently issued reports on ACAD. Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Needham & Company LLC restated a “buy” rating and set a $49.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 5th. ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and set a $47.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 12th. Finally, Rodman & Renshaw restated a “buy” rating and set a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, May 22nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.14.
Shares of ACADIA Pharmaceuticals (ACAD) opened at 30.43 on Friday. The firm’s market capitalization is $3.71 billion. The stock’s 50 day moving average is $27.92 and its 200-day moving average is $32.16. ACADIA Pharmaceuticals has a 52-week low of $20.68 and a 52-week high of $40.83.
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In other news, EVP Glenn Baity sold 38,097 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $30.00, for a total transaction of $1,142,910.00. Following the completion of the transaction, the executive vice president now directly owns 109,253 shares of the company’s stock, valued at approximately $3,277,590. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.25% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in ACAD. Envestnet Asset Management Inc. increased its position in shares of ACADIA Pharmaceuticals by 23.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 617 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of 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 in the last quarter. Nisa Investment Advisors LLC increased its position in shares of 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 in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of ACADIA Pharmaceuticals during the first quarter worth $161,000. Finally, Russell Investments Group Ltd. bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth $145,000. 97.13% of the stock is owned by hedge funds and other institutional investors.
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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