ACADIA Pharmaceuticals Inc. (ACAD) Issues Quarterly Earnings Results
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.17, Briefing.com reports. ACADIA Pharmaceuticals had a negative net margin of 948.93% and a negative return on equity of 63.07%. The business had revenue of $30.50 million during the quarter, compared to analyst estimates of $20.02 million. During the same quarter in the previous year, the business posted ($0.63) EPS. The company’s quarterly revenue was up 30400.0% compared to the same quarter last year.
ACADIA Pharmaceuticals (NASDAQ ACAD) traded down 3.37% on Tuesday, hitting $29.54. 1,863,169 shares of the company traded hands. The stock’s 50-day moving average is $28.96 and its 200 day moving average is $32.04. The firm’s market capitalization is $3.61 billion. ACADIA Pharmaceuticals has a 12 month low of $20.68 and a 12 month high of $40.83.
Several research firms have recently commented on ACAD. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “sell” rating in a report on Monday, July 17th. Jefferies Group LLC restated a “buy” rating and issued a $47.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 12th. HC Wainwright restated a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, May 10th. Finally, ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.21.
In related news, EVP Glenn Baity sold 1,903 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $30.00, for a total value of $57,090.00. Following the completion of the transaction, the executive vice president now owns 83,059 shares in the company, valued at $2,491,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.25% of the stock is owned by insiders.
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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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