Brokerages Expect ACADIA Pharmaceuticals Inc. (ACAD) to Announce -$0.58 Earnings Per Share

Wall Street brokerages forecast that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) will announce ($0.58) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for ACADIA Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.50) and the lowest estimate coming in at ($0.64). ACADIA Pharmaceuticals reported earnings of ($0.65) per share during the same quarter last year, which suggests a positive year over year growth rate of 10.8%. The firm is expected to report its next quarterly earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that ACADIA Pharmaceuticals will report full-year earnings of ($2.41) per share for the current fiscal year, with EPS estimates ranging from ($2.47) to ($2.30). For the next financial year, analysts forecast that the business will post earnings of ($1.59) per share, with EPS estimates ranging from ($1.92) to ($1.38). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.10. The business had revenue of $35.58 million for the quarter, compared to analysts’ expectations of $32.03 million. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. The business’s quarterly revenue was up 571.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.61) earnings per share.

Several brokerages recently weighed in on ACAD. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $61.00 target price (up previously from $54.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. Bank of America raised their target price on shares of ACADIA Pharmaceuticals from $40.00 to $46.00 and gave the company a “positive” rating in a report on Thursday, October 5th. JMP Securities raised their target price on shares of ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, October 5th. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $48.86.

In other news, Director Laura Brege sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $30.06, for a total transaction of $751,500.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $450,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Glenn Baity sold 74,321 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $30.14, for a total transaction of $2,240,034.94. The disclosure for this sale can be found here. 22.25% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. San Francisco Sentry Investment Group CA purchased a new position in shares of ACADIA Pharmaceuticals during the second quarter worth approximately $125,000. Turner Investments LLC purchased a new position in shares of ACADIA Pharmaceuticals during the third quarter worth approximately $188,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ACADIA Pharmaceuticals by 43.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,670 shares of the biopharmaceutical company’s stock worth $214,000 after acquiring an additional 1,710 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of ACADIA Pharmaceuticals by 56.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,509 shares of the biopharmaceutical company’s stock worth $247,000 after acquiring an additional 2,358 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in ACADIA Pharmaceuticals in the 4th quarter valued at $200,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Shares of ACADIA Pharmaceuticals (ACAD) traded up $1.32 during trading hours on Monday, reaching $28.24. 1,940,000 shares of the company traded hands, compared to its average volume of 1,620,000. The firm has a market capitalization of $3,460.00, a PE ratio of -11.48 and a beta of 3.79. ACADIA Pharmaceuticals has a 52-week low of $25.06 and a 52-week high of $41.20.

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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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Earnings History and Estimates for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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