Analysts Expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Will Post Quarterly Sales of $131.19 Million

Brokerages expect that ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) will report $131.19 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for ACADIA Pharmaceuticals’ earnings, with estimates ranging from $126.00 million to $135.50 million. ACADIA Pharmaceuticals reported sales of $115.22 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.9%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that ACADIA Pharmaceuticals will report full-year sales of $530.64 million for the current fiscal year, with estimates ranging from $512.60 million to $544.91 million. For the next year, analysts anticipate that the business will post sales of $698.46 million, with estimates ranging from $602.30 million to $778.18 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27. The firm had revenue of $115.47 million for the quarter, compared to analyst estimates of $122.22 million. ACADIA Pharmaceuticals had a negative return on equity of 40.52% and a negative net margin of 43.50%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned ($0.42) EPS.

A number of brokerages have recently issued reports on ACAD. Mizuho lowered their price target on ACADIA Pharmaceuticals from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 19th. HC Wainwright raised ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $36.00 in a research note on Wednesday, February 9th. JMP Securities lowered their price target on ACADIA Pharmaceuticals from $42.00 to $35.00 and set a “market outperform” rating on the stock in a research note on Tuesday, March 1st. Canaccord Genuity Group raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $31.00 in a research note on Wednesday, March 16th. Finally, Citigroup boosted their price objective on ACADIA Pharmaceuticals from $30.00 to $32.00 in a research note on Tuesday, March 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.41.

Shares of ACAD stock traded up $0.82 during trading hours on Monday, reaching $16.85. The company’s stock had a trading volume of 2,642,224 shares, compared to its average volume of 1,737,200. The firm’s fifty day simple moving average is $22.56 and its 200 day simple moving average is $22.56. ACADIA Pharmaceuticals has a one year low of $15.16 and a one year high of $28.06. The stock has a market capitalization of $2.72 billion, a P/E ratio of -12.67 and a beta of 0.67.

In related news, insider James Kihara sold 1,025 shares of the business’s stock in a transaction on Friday, April 8th. The stock was sold at an average price of $27.05, for a total value of $27,726.25. Following the sale, the insider now owns 2,433 shares in the company, valued at approximately $65,812.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Srdjan R. Stankovic sold 2,865 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $18.18, for a total value of $52,085.70. Following the completion of the sale, the president now owns 55,188 shares in the company, valued at approximately $1,003,317.84. The disclosure for this sale can be found here. Insiders sold 17,861 shares of company stock worth $373,381 in the last 90 days. Company insiders own 28.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its stake in ACADIA Pharmaceuticals by 1,081.3% during the 4th quarter. Allworth Financial LP now owns 1,075 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 984 shares in the last quarter. Parallel Advisors LLC grew its stake in ACADIA Pharmaceuticals by 74.8% during the 4th quarter. Parallel Advisors LLC now owns 1,365 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 584 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 19.4% during the 4th quarter. Lazard Asset Management LLC now owns 3,115 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 506 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $76,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth about $152,000. 91.74% of the stock is owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals (Get Rating)

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.

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