What is Zacks Research’s Estimate for ACAD FY2024 Earnings?

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for ACADIA Pharmaceuticals in a research report issued on Wednesday, November 27th. Zacks Research analyst A. Chakraborty now forecasts that the biopharmaceutical company will earn $0.57 per share for the year, up from their previous forecast of $0.50. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.73 per share. Zacks Research also issued estimates for ACADIA Pharmaceuticals’ Q4 2024 earnings at $0.07 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.21 EPS, Q1 2026 earnings at $0.19 EPS and Q3 2026 earnings at $0.38 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. During the same period in the prior year, the company posted ($0.40) EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year.

Several other analysts have also recently weighed in on the company. Royal Bank of Canada lowered their price target on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. UBS Group dropped their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Cantor Fitzgerald dropped their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $16.30 on Monday. ACADIA Pharmaceuticals has a 52-week low of $14.15 and a 52-week high of $32.59. The business’s fifty day moving average is $15.62 and its 200 day moving average is $16.02. The company has a market capitalization of $2.71 billion, a PE ratio of 20.90 and a beta of 0.40.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,073 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the transaction, the insider now directly owns 19,863 shares of the company’s stock, valued at $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the sale, the chief financial officer now directly owns 53,302 shares in the company, valued at approximately $896,006.62. The trade was a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock valued at $414,551 in the last 90 days. Insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. State Street Corp boosted its stake in ACADIA Pharmaceuticals by 3.0% during the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after acquiring an additional 173,084 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 17.8% in the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock worth $49,007,000 after purchasing an additional 481,950 shares in the last quarter. Millennium Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 36.2% in the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock worth $47,738,000 after buying an additional 781,070 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in ACADIA Pharmaceuticals by 11.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock valued at $47,693,000 after buying an additional 292,906 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in ACADIA Pharmaceuticals by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after buying an additional 30,826 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

About ACADIA Pharmaceuticals

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.