Oppenheimer Research Analysts Lower Earnings Estimates for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) – Stock analysts at Oppenheimer lowered their Q1 2022 EPS estimates for shares of ACADIA Pharmaceuticals in a report issued on Tuesday, April 26th. Oppenheimer analyst J. Olson now anticipates that the biopharmaceutical company will post earnings per share of ($0.60) for the quarter, down from their previous estimate of ($0.34). Oppenheimer also issued estimates for ACADIA Pharmaceuticals’ Q2 2022 earnings at ($0.24) EPS, Q3 2022 earnings at ($0.29) EPS, Q4 2022 earnings at ($0.33) EPS, FY2022 earnings at ($1.46) EPS, FY2023 earnings at ($1.13) EPS, FY2024 earnings at $0.37 EPS and FY2025 earnings at $2.54 EPS.

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

A number of other research firms also recently issued reports on ACAD. Canaccord Genuity Group upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and increased their target price for the stock from $30.00 to $31.00 in a research report on Wednesday, March 16th. JMP Securities cut their target price on shares of ACADIA Pharmaceuticals from $42.00 to $35.00 and set a “market outperform” rating for the company in a research report on Tuesday, March 1st. Mizuho cut their target price on shares of ACADIA Pharmaceuticals from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, April 19th. StockNews.com started coverage on shares of ACADIA Pharmaceuticals in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating and set a $28.00 price target on the stock in a research note on Wednesday, March 23rd. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $29.41.

Shares of NASDAQ:ACAD opened at $18.96 on Friday. ACADIA Pharmaceuticals has a 52 week low of $15.68 and a 52 week high of $28.06. The company has a market cap of $3.06 billion, a PE ratio of -18.06 and a beta of 0.52. The firm has a 50 day simple moving average of $24.17 and a 200 day simple moving average of $22.56.

A number of institutional investors and hedge funds have recently made changes to their positions in ACAD. Allworth Financial LP lifted its stake in ACADIA Pharmaceuticals by 1,081.3% in the fourth quarter. Allworth Financial LP now owns 1,075 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 984 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of ACADIA Pharmaceuticals by 74.8% in the fourth 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 lifted its position in shares of ACADIA Pharmaceuticals by 19.4% in the fourth quarter. Lazard Asset Management LLC now owns 3,115 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 506 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth $76,000. Finally, Verition Fund Management LLC bought a new stake in ACADIA Pharmaceuticals during the third quarter worth $167,000. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

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

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

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