ACADIA Pharmaceuticals Inc. to Post Q4 2024 Earnings of $0.15 Per Share, Leerink Partnrs Forecasts (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Equities research analysts at Leerink Partnrs lowered their Q4 2024 earnings estimates for shares of ACADIA Pharmaceuticals in a research report issued to clients and investors on Tuesday, July 9th. Leerink Partnrs analyst M. Goodman now forecasts that the biopharmaceutical company will earn $0.15 per share for the quarter, down from their previous forecast of $0.16. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.58 per share.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The firm had revenue of $205.83 million during the quarter, compared to the consensus estimate of $208.31 million. During the same quarter in the prior year, the firm earned ($0.27) EPS. The company’s revenue for the quarter was up 73.8% on a year-over-year basis.

Several other analysts have also recently issued reports on the stock. Citigroup dropped their price objective on shares of ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Morgan Stanley dropped their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday. HC Wainwright dropped their price objective on shares of ACADIA Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Bank of America dropped their price target on shares of ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Finally, Oppenheimer reissued a “market perform” rating and issued a $19.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, May 6th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $28.59.

ACADIA Pharmaceuticals Trading Up 0.7 %

Shares of NASDAQ ACAD opened at $17.77 on Thursday. ACADIA Pharmaceuticals has a 12-month low of $14.55 and a 12-month high of $33.99. The stock has a market cap of $2.94 billion, a PE ratio of -1,775.22 and a beta of 0.38. The company has a 50-day moving average of $15.59 and a 200 day moving average of $20.50.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd raised its holdings in shares of ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $39,000. Headlands Technologies LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at $48,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $100,000. Finally, Shell Asset Management Co. raised its holdings in shares of ACADIA Pharmaceuticals by 65.7% in the 1st quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock valued at $136,000 after purchasing an additional 2,909 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 11,427 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $193,573.38. Following the sale, the chief executive officer now directly owns 155,231 shares in the company, valued at approximately $2,629,613.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 11,427 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $193,573.38. Following the sale, the chief executive officer now directly owns 155,231 shares in the company, valued at approximately $2,629,613.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark C. Schneyer sold 3,503 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $59,340.82. Following the sale, the chief financial officer now owns 32,053 shares in the company, valued at $542,977.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,708 shares of company stock worth $348,697. 28.30% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.