Zacks Research Has Strong Estimate for ACAD FY2024 Earnings

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Equities researchers at Zacks Research lifted their FY2024 EPS estimates for ACADIA Pharmaceuticals in a research note issued to investors on Wednesday, November 27th. Zacks Research analyst A. Chakraborty now anticipates that the biopharmaceutical company will post earnings of $0.57 per share for the year, up from their prior forecast of $0.50. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.73 per share. Zacks Research also issued estimates for ACADIA Pharmaceuticals’ Q4 2024 earnings at $0.07 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.21 EPS, Q1 2026 earnings at $0.19 EPS and Q3 2026 earnings at $0.38 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.40) EPS.

ACAD has been the subject of several other research reports. Citigroup cut their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. UBS Group dropped their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Trading Up 1.8 %

NASDAQ ACAD opened at $16.61 on Monday. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $32.59. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 20.69 and a beta of 0.38. The stock’s 50 day moving average is $15.61 and its two-hundred day moving average is $16.01.

Insider Activity at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the transaction, the chief financial officer now owns 53,302 shares in the company, valued at $896,006.62. The trade was a 16.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Kihara sold 4,073 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the transaction, the insider now owns 19,863 shares of the company’s stock, valued at $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,661 shares of company stock worth $414,551. 28.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in ACADIA Pharmaceuticals by 3.0% in the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after purchasing an additional 173,084 shares during the period. Fred Alger Management LLC raised its stake in shares of ACADIA Pharmaceuticals by 17.8% in the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock valued at $49,007,000 after purchasing an additional 481,950 shares during the period. Millennium Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 36.2% in the second quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock valued at $47,738,000 after purchasing an additional 781,070 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of ACADIA Pharmaceuticals by 11.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock worth $47,693,000 after buying an additional 292,906 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after buying an additional 30,826 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

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.