ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Expected to Post Q2 2022 Earnings of ($0.21) Per Share

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) – Research analysts at Jefferies Financial Group decreased their Q2 2022 earnings per share estimates for shares of ACADIA Pharmaceuticals in a research report issued on Wednesday, May 4th. Jefferies Financial Group analyst C. Howerton now expects that the biopharmaceutical company will earn ($0.21) per share for the quarter, down from their previous estimate of ($0.18). Jefferies Financial Group also issued estimates for ACADIA Pharmaceuticals’ Q4 2022 earnings at ($0.29) EPS, FY2022 earnings at ($1.31) EPS, FY2023 earnings at ($1.42) EPS, FY2024 earnings at ($0.14) EPS, FY2025 earnings at $1.86 EPS and FY2026 earnings at $4.05 EPS.

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

Other equities research analysts also recently issued research reports about the stock. JMP Securities reduced their price target 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. StockNews.com initiated coverage on ACADIA Pharmaceuticals in a report on Thursday, March 31st. They set a “hold” rating on the stock. The Goldman Sachs Group dropped their price objective on ACADIA Pharmaceuticals from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, March 7th. Mizuho decreased their target price on ACADIA Pharmaceuticals from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, April 19th. Finally, Citigroup raised their price target on shares of ACADIA Pharmaceuticals from $30.00 to $32.00 in a report on Tuesday, March 1st. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $29.41.

Shares of ACADIA Pharmaceuticals stock opened at $17.88 on Monday. The company has a 50-day simple moving average of $23.38 and a two-hundred day simple moving average of $22.68. The stock has a market capitalization of $2.89 billion, a PE ratio of -13.44 and a beta of 0.67. ACADIA Pharmaceuticals has a 52-week low of $15.68 and a 52-week high of $28.06.

Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its position in shares of ACADIA Pharmaceuticals by 319.2% during the third quarter. SG Americas Securities LLC now owns 61,655 shares of the biopharmaceutical company’s stock valued at $1,024,000 after buying an additional 46,947 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of ACADIA Pharmaceuticals by 8.7% during the 4th quarter. Russell Investments Group Ltd. now owns 138,950 shares of the biopharmaceutical company’s stock valued at $3,241,000 after purchasing an additional 11,172 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of ACADIA Pharmaceuticals by 21.4% during the third quarter. Rockefeller Capital Management L.P. now owns 281,228 shares of the biopharmaceutical company’s stock valued at $4,671,000 after purchasing an additional 49,644 shares in the last quarter. First Quadrant L P CA increased its holdings in shares of ACADIA Pharmaceuticals by 37.5% in the fourth quarter. First Quadrant L P CA now owns 16,500 shares of the biopharmaceutical company’s stock worth $385,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Balyasny Asset Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the third quarter worth about $2,142,000. Institutional investors and hedge funds own 91.74% of the company’s stock.

In other news, President Srdjan R. Stankovic sold 1,501 shares of the firm’s stock in a transaction 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 filing with the SEC, which is available through this hyperlink. Also, CEO Stephen Davis sold 3,928 shares of ACADIA Pharmaceuticals 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 disclosure for this sale can be found here. Insiders have sold 17,861 shares of company stock valued at $373,381 in the last three months. 28.50% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Company Profile (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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