ACADIA Pharmaceuticals Inc. (ACAD) Expected to Announce Earnings of -$0.63 Per Share
Wall Street brokerages predict that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) will report earnings of ($0.63) per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for ACADIA Pharmaceuticals’ earnings. The highest EPS estimate is ($0.55) and the lowest is ($0.66). ACADIA Pharmaceuticals reported earnings of ($0.61) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 3.3%. The business is scheduled to report its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that ACADIA Pharmaceuticals will report full year earnings of ($2.53) per share for the current financial year, with EPS estimates ranging from ($2.60) to ($2.37). For the next financial year, analysts expect that the firm will post earnings of ($1.82) per share, with EPS estimates ranging from ($2.17) to ($1.51). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow ACADIA Pharmaceuticals.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $20.02 million. During the same quarter in the prior year, the firm earned ($0.63) EPS. The company’s revenue was up 30400.0% compared to the same quarter last year.
A number of research analysts have weighed in on the stock. Piper Jaffray Companies set a $54.00 price target on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 9th. J P Morgan Chase & Co set a $50.00 price target on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, October 5th. JMP Securities lifted their price target on shares of ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, October 5th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, August 9th. Finally, ValuEngine raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. ACADIA Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $47.73.
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Shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) opened at 35.78 on Tuesday. The stock’s market cap is $4.38 billion. The firm has a 50-day moving average of $36.98 and a 200-day moving average of $31.79. ACADIA Pharmaceuticals has a 52-week low of $20.68 and a 52-week high of $41.20.
In related news, EVP Glenn Baity sold 26,507 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $34.87, for a total transaction of $924,299.09. Following the transaction, the executive vice president now directly owns 94,163 shares in the company, valued at $3,283,463.81. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 78,329 shares of company stock worth $2,957,975. 22.25% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors increased its holdings in ACADIA Pharmaceuticals by 42.4% during the third quarter. Nationwide Fund Advisors now owns 38,350 shares of the biopharmaceutical company’s stock worth $1,445,000 after buying an additional 11,410 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in ACADIA Pharmaceuticals during the third quarter worth $260,000. Elliott Management Corp increased its holdings in ACADIA Pharmaceuticals by 61.7% during the second quarter. Elliott Management Corp now owns 1,256,795 shares of the biopharmaceutical company’s stock worth $35,052,000 after buying an additional 479,413 shares during the last quarter. York Capital Management Global Advisors LLC acquired a new position in ACADIA Pharmaceuticals during the second quarter worth $3,347,000. Finally, State Street Corp increased its holdings in ACADIA Pharmaceuticals by 15.8% during the second quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock worth $104,551,000 after buying an additional 510,670 shares during the last quarter. Institutional investors and hedge funds own 97.12% of the company’s stock.
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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