ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – SVB Leerink upped their Q1 2021 earnings estimates for ACADIA Pharmaceuticals in a report released on Monday, April 5th. SVB Leerink analyst M. Goodman now anticipates that the biopharmaceutical company will post earnings per share of ($0.37) for the quarter, up from their prior estimate of ($0.58). SVB Leerink currently has a “Outperform” rating and a $31.00 price objective on the stock. SVB Leerink also issued estimates for ACADIA Pharmaceuticals’ Q2 2021 earnings at ($0.27) EPS, Q3 2021 earnings at ($0.27) EPS, Q4 2021 earnings at ($0.29) EPS, FY2021 earnings at ($1.20) EPS, FY2022 earnings at ($0.80) EPS, FY2023 earnings at ($0.30) EPS and FY2024 earnings at $2.40 EPS.
Several other research analysts also recently weighed in on ACAD. Jefferies Financial Group downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $21.00 in a research note on Tuesday. TheStreet upgraded shares of ACADIA Pharmaceuticals from a “d” rating to a “c-” rating in a research report on Wednesday, February 24th. Citigroup reiterated a “neutral” rating and issued a $35.00 price target (down from $66.00) on shares of ACADIA Pharmaceuticals in a report on Monday, March 15th. Raymond James downgraded shares of ACADIA Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Morgan Stanley reduced their target price on ACADIA Pharmaceuticals from $50.00 to $28.00 and set an “overweight” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $33.78.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, February 23rd. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.05. ACADIA Pharmaceuticals had a negative net margin of 63.92% and a negative return on equity of 40.35%. The company had revenue of $121.01 million for the quarter, compared to analysts’ expectations of $122.87 million.
Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in ACADIA Pharmaceuticals by 21.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 895,547 shares of the biopharmaceutical company’s stock valued at $36,942,000 after buying an additional 160,482 shares in the last quarter. ProShare Advisors LLC raised its position in shares of ACADIA Pharmaceuticals by 2.5% in the 3rd quarter. ProShare Advisors LLC now owns 27,401 shares of the biopharmaceutical company’s stock valued at $1,130,000 after purchasing an additional 668 shares during the last quarter. Truist Financial Corp boosted its stake in ACADIA Pharmaceuticals by 79.4% in the 3rd quarter. Truist Financial Corp now owns 29,368 shares of the biopharmaceutical company’s stock worth $1,211,000 after purchasing an additional 13,002 shares in the last quarter. Morgan Stanley grew its position in ACADIA Pharmaceuticals by 179.2% during the 3rd quarter. Morgan Stanley now owns 485,639 shares of the biopharmaceutical company’s stock worth $20,032,000 after purchasing an additional 311,707 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in ACADIA Pharmaceuticals by 86.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,657 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 1,694 shares in the last quarter. 93.54% of the stock is owned by hedge funds and other institutional investors.
In related news, President Srdjan R. Stankovic sold 700 shares of the stock in a transaction that occurred on Tuesday, January 12th. The shares were sold at an average price of $55.01, for a total transaction of $38,507.00. Following the completion of the sale, the president now owns 20,947 shares of the company’s stock, valued at $1,152,294.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Srdjan R. Stankovic sold 29,733 shares of the firm’s stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $55.22, for a total transaction of $1,641,856.26. Following the completion of the sale, the president now owns 21,972 shares of the company’s stock, valued at $1,213,293.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,215 shares of company stock worth $3,035,800. 27.70% of the stock is owned by corporate insiders.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; Trofinetide, a novel synthetic analog for the treatment of Rett syndrome; ACP-044, a novel first-in-class orally administered non-opioid analgesic for treating acute and chronic pain; and ACP-319, a positive allosteric modulator of the muscarinic receptor for treating cognition and schizophrenia.
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