Zacks: Analysts Expect ACADIA Pharmaceuticals Inc. (ACAD) to Post -$0.63 EPS
Wall Street analysts expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to report earnings of ($0.63) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for ACADIA Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.66) and the highest estimate coming in at ($0.55). ACADIA Pharmaceuticals reported earnings of ($0.61) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.3%. The firm is expected to issue its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that ACADIA Pharmaceuticals will report full-year earnings of ($2.57) per share for the current year, with EPS estimates ranging from ($2.76) to ($2.37). For the next fiscal year, analysts expect that the firm will report earnings of ($1.90) per share, with EPS estimates ranging from ($2.25) to ($1.51). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow ACADIA Pharmaceuticals.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.17. ACADIA Pharmaceuticals had a negative net margin of 485.14% and a negative return on equity of 62.08%. The company had revenue of $30.50 million during the quarter, compared to analyst estimates of $20.02 million. During the same quarter last year, the firm posted ($0.63) EPS. The business’s revenue for the quarter was up 30400.0% on a year-over-year basis.
Several analysts have weighed in on ACAD shares. BidaskClub raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 21st. Zacks Investment Research raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, July 11th. Rodman & Renshaw reissued a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, May 22nd. ValuEngine raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Piper Jaffray Companies set a $54.00 price objective on ACADIA Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 9th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $43.23.
In related news, EVP Glenn Baity sold 38,097 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $30.00, for a total value of $1,142,910.00. Following the completion of the transaction, the executive vice president now directly owns 109,253 shares in the company, valued at approximately $3,277,590. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 80,829 shares of company stock valued at $2,623,850 over the last quarter. 22.25% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Elliott Management Corp grew its position in shares of ACADIA Pharmaceuticals by 61.7% in the 2nd quarter. Elliott Management Corp now owns 1,256,795 shares of the biopharmaceutical company’s stock valued at $35,052,000 after purchasing an additional 479,413 shares during the period. York Capital Management Global Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $3,347,000. State Street Corp grew its position in shares of ACADIA Pharmaceuticals by 15.8% in the 2nd quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock valued at $104,551,000 after purchasing an additional 510,670 shares during the period. Palo Alto Investors LLC grew its position in shares of ACADIA Pharmaceuticals by 1.4% in the 2nd quarter. Palo Alto Investors LLC now owns 1,613,330 shares of the biopharmaceutical company’s stock valued at $44,996,000 after purchasing an additional 22,900 shares during the period. Finally, Janus Henderson Group PLC acquired a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $102,152,000. Institutional investors and hedge funds own 97.11% of the company’s stock.
ACADIA Pharmaceuticals (NASDAQ:ACAD) traded up 1.32% during trading on Friday, hitting $36.83. 2,352,635 shares of the stock traded hands. The stock’s market cap is $4.51 billion. ACADIA Pharmaceuticals has a 52 week low of $20.68 and a 52 week high of $40.83. The firm’s 50-day moving average is $32.93 and its 200 day moving average is $31.59.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ACADIA Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.