ACADIA Pharmaceuticals Inc. Forecasted to Earn Q2 2024 Earnings of $0.17 Per Share (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Research analysts at Leerink Partnrs lowered their Q2 2024 earnings per share (EPS) estimates for shares of ACADIA Pharmaceuticals in a note issued to investors on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now forecasts that the biopharmaceutical company will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.19. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.63 per share. Leerink Partnrs also issued estimates for ACADIA Pharmaceuticals’ Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.21 EPS, FY2024 earnings at $0.62 EPS and FY2025 earnings at $1.11 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. During the same quarter last year, the firm posted ($0.26) EPS. The firm’s quarterly revenue was up 69.3% on a year-over-year basis.

Several other brokerages have also weighed in on ACAD. Oppenheimer reissued a “market perform” rating and issued a $25.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, February 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday. Mizuho cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $39.00 to $25.00 in a research note on Tuesday, March 12th. JMP Securities reiterated a “market outperform” rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 7th. Finally, StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $35.82.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $17.41 on Thursday. ACADIA Pharmaceuticals has a 1 year low of $17.34 and a 1 year high of $33.99. The firm’s 50-day simple moving average is $21.86 and its 200-day simple moving average is $23.96. The firm has a market cap of $2.87 billion, a PE ratio of -45.82 and a beta of 0.37.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the sale, the chief executive officer now owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Stephen Davis sold 5,577 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the sale, the chief executive officer now owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brendan Teehan sold 2,568 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $45,890.16. Following the completion of the sale, the chief operating officer now owns 38,796 shares of the company’s stock, valued at approximately $693,284.52. The disclosure for this sale can be found here. Insiders sold 69,383 shares of company stock valued at $1,291,362 in the last ninety days. Company insiders own 27.50% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in ACADIA Pharmaceuticals by 4.2% during the third quarter. Vanguard Group Inc. now owns 12,925,641 shares of the biopharmaceutical company’s stock valued at $211,463,000 after purchasing an additional 525,048 shares during the last quarter. RTW Investments LP lifted its position in shares of ACADIA Pharmaceuticals by 18.3% during the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after acquiring an additional 1,793,288 shares during the last quarter. BlackRock Inc. lifted its position in shares of ACADIA Pharmaceuticals by 1.7% during the 2nd quarter. BlackRock Inc. now owns 10,039,501 shares of the biopharmaceutical company’s stock valued at $240,446,000 after acquiring an additional 170,370 shares during the last quarter. State Street Corp boosted its stake in shares of ACADIA Pharmaceuticals by 2.8% during the 3rd quarter. State Street Corp now owns 6,778,871 shares of the biopharmaceutical company’s stock worth $110,902,000 after acquiring an additional 184,921 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of ACADIA Pharmaceuticals by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,550,906 shares of the biopharmaceutical company’s stock worth $85,649,000 after acquiring an additional 271,652 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

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.