Zacks: Analysts Expect ACADIA Pharmaceuticals Inc. (ACAD) Will Post Quarterly Sales of $45.30 Million

Brokerages expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to report sales of $45.30 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for ACADIA Pharmaceuticals’ earnings. The highest sales estimate is $45.60 million and the lowest is $45.09 million. ACADIA Pharmaceuticals posted sales of $11.96 million during the same quarter last year, which suggests a positive year over year growth rate of 278.8%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 27th.

On average, analysts expect that ACADIA Pharmaceuticals will report full-year sales of $45.30 million for the current fiscal year, with estimates ranging from $125.40 million to $126.90 million. For the next fiscal year, analysts anticipate that the firm will post sales of $259.79 million per share, with estimates ranging from $240.93 million to $275.44 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow ACADIA Pharmaceuticals.

Several research firms recently commented on ACAD. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, November 8th. ValuEngine downgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Zacks Investment Research downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. BidaskClub downgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Finally, Cowen reaffirmed a “buy” rating and issued a $46.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $48.86.

In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 74,321 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $30.14, for a total transaction of $2,240,034.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Laura Brege sold 25,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $30.06, for a total transaction of $751,500.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $450,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,879 shares of company stock worth $4,175,649. 22.25% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in ACADIA Pharmaceuticals by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,604,605 shares of the biopharmaceutical company’s stock worth $212,093,000 after acquiring an additional 134,820 shares in the last quarter. BlackRock Inc. grew its holdings in ACADIA Pharmaceuticals by 5.0% during the 4th quarter. BlackRock Inc. now owns 6,710,697 shares of the biopharmaceutical company’s stock worth $202,060,000 after acquiring an additional 321,950 shares in the last quarter. Janus Henderson Group PLC grew its holdings in ACADIA Pharmaceuticals by 62.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,958,548 shares of the biopharmaceutical company’s stock worth $224,459,000 after acquiring an additional 2,295,881 shares in the last quarter. State Street Corp grew its holdings in ACADIA Pharmaceuticals by 15.8% during the 2nd quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock worth $104,551,000 after acquiring an additional 510,670 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals by 25.8% in the 4th quarter. First Trust Advisors LP now owns 1,523,112 shares of the biopharmaceutical company’s stock valued at $45,861,000 after buying an additional 312,671 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) opened at $28.27 on Friday. The firm has a market cap of $3,450.00, a price-to-earnings ratio of -11.49 and a beta of 3.48. ACADIA Pharmaceuticals has a 12 month low of $25.06 and a 12 month 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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