ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Expected to Earn FY2022 Earnings of ($1.71) Per Share

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) – Cantor Fitzgerald dropped their FY2022 EPS estimates for shares of ACADIA Pharmaceuticals in a report released on Tuesday, April 26th. Cantor Fitzgerald analyst C. Duncan now expects that the biopharmaceutical company will post earnings of ($1.71) per share for the year, down from their prior forecast of ($1.35). Cantor Fitzgerald has a “Overweight” rating and a $37.00 price objective on the stock.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) last announced its earnings results on Monday, February 28th. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The firm had revenue of $130.80 million during the quarter, compared to the consensus estimate of $135.44 million. ACADIA Pharmaceuticals had a negative return on equity of 29.79% and a negative net margin of 34.67%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.42) EPS.

Other analysts have also issued reports about the stock. Morgan Stanley restated a “hold” rating and issued a $24.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 18th. HC Wainwright upgraded shares of ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price target for the stock from $18.00 to $36.00 in a research report on Wednesday, February 9th. Canaccord Genuity Group upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price target for the stock from $30.00 to $31.00 in a research report on Wednesday, March 16th. The Goldman Sachs Group decreased their price target on shares of ACADIA Pharmaceuticals from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, March 7th. Finally, JMP Securities decreased their price target on shares of ACADIA Pharmaceuticals from $42.00 to $35.00 and set a “market outperform” rating on the stock in a research report on Tuesday, March 1st. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $29.41.

Shares of ACAD opened at $18.99 on Thursday. The company has a market capitalization of $3.06 billion, a PE ratio of -18.09 and a beta of 0.52. ACADIA Pharmaceuticals has a one year low of $15.68 and a one year high of $28.06. The company’s fifty day moving average price is $24.31 and its 200 day moving average price is $22.54.

A number of hedge funds and other institutional investors have recently bought and sold shares of ACAD. Morgan Stanley raised its position in ACADIA Pharmaceuticals by 30.0% during the second quarter. Morgan Stanley now owns 835,652 shares of the biopharmaceutical company’s stock worth $20,381,000 after acquiring an additional 192,602 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of ACADIA Pharmaceuticals by 40.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 163,125 shares of the biopharmaceutical company’s stock valued at $2,710,000 after purchasing an additional 46,888 shares during the period. SG Americas Securities LLC raised its position in shares of ACADIA Pharmaceuticals by 319.2% in the third quarter. SG Americas Securities LLC now owns 61,655 shares of the biopharmaceutical company’s stock valued at $1,024,000 after purchasing an additional 46,947 shares during the period. Dupont Capital Management Corp bought a new position in shares of ACADIA Pharmaceuticals in the third quarter valued at about $258,000. Finally, Deutsche Bank AG raised its position in shares of ACADIA Pharmaceuticals by 25.1% in the third quarter. Deutsche Bank AG now owns 168,967 shares of the biopharmaceutical company’s stock valued at $2,807,000 after purchasing an additional 33,924 shares during the period. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Stephen Davis sold 3,928 shares of the stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $23.80, for a total transaction of $93,486.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Srdjan R. Stankovic sold 1,501 shares of the stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $23.80, for a total transaction of $35,723.80. The disclosure for this sale can be found here. Insiders have sold 8,067 shares of company stock valued at $195,326 in the last 90 days. 28.50% of the stock is currently owned by corporate insiders.

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; 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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Earnings History and Estimates for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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