Equities Analysts Offer Predictions for ACAD FY2024 Earnings

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – HC Wainwright decreased their FY2024 earnings per share (EPS) estimates for ACADIA Pharmaceuticals in a report released on Thursday, November 7th. HC Wainwright analyst A. Fein now anticipates that the biopharmaceutical company will earn $0.63 per share for the year, down from their previous forecast of $0.75. HC Wainwright currently has a “Buy” rating and a $27.00 price objective on the stock. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.51 per share. HC Wainwright also issued estimates for ACADIA Pharmaceuticals’ FY2026 earnings at $2.25 EPS and FY2027 earnings at $2.42 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 27.29%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.40) earnings per share.

Other analysts have also recently issued research reports about the stock. UBS Group cut their price target on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada cut their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald reduced their target price on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Stock Down 1.9 %

Shares of ACADIA Pharmaceuticals stock opened at $17.93 on Monday. ACADIA Pharmaceuticals has a 12-month low of $14.15 and a 12-month high of $32.59. The business’s 50 day moving average is $15.51 and its 200-day moving average is $15.99. The stock has a market cap of $2.97 billion, a P/E ratio of 22.99 and a beta of 0.38.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in ACADIA Pharmaceuticals by 246.7% in the first quarter. SG Americas Securities LLC now owns 84,956 shares of the biopharmaceutical company’s stock valued at $1,571,000 after buying an additional 60,452 shares in the last quarter. Swiss National Bank boosted its holdings in shares of ACADIA Pharmaceuticals by 0.4% during the 1st quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after acquiring an additional 800 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of ACADIA Pharmaceuticals by 6.2% during the 1st quarter. Sei Investments Co. now owns 34,752 shares of the biopharmaceutical company’s stock valued at $642,000 after acquiring an additional 2,034 shares in the last quarter. Headlands Technologies LLC bought a new stake in ACADIA Pharmaceuticals during the 1st quarter worth $48,000. Finally, Russell Investments Group Ltd. increased its holdings in ACADIA Pharmaceuticals by 12.3% in the 1st quarter. Russell Investments Group Ltd. now owns 20,689 shares of the biopharmaceutical company’s stock worth $383,000 after purchasing an additional 2,264 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the transaction, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at $2,850,560.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the transaction, the chief executive officer now owns 186,555 shares in the company, valued at approximately $2,850,560.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brendan Teehan sold 9,534 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,014 shares of company stock valued at $779,494. 28.30% of the stock is owned by corporate insiders.

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.