Analysts Offer Predictions for Acadia Pharmaceuticals Inc.’s Q3 2016 Earnings (ACAD)
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) – Leerink Swann issued their Q3 2016 earnings per share (EPS) estimates for Acadia Pharmaceuticals in a report issued on Tuesday. Leerink Swann analyst P. Matteis forecasts that the brokerage will post earnings of ($0.53) per share for the quarter. Leerink Swann currently has a “Market Perform” rating and a $34.00 target price on the stock. Leerink Swann also issued estimates for Acadia Pharmaceuticals’ Q4 2016 earnings at ($0.48) EPS, FY2016 earnings at ($2.08) EPS, FY2017 earnings at ($1.69) EPS, FY2018 earnings at ($1.02) EPS, FY2019 earnings at ($0.30) EPS and FY2020 earnings at $1.51 EPS.
A number of other research firms have also weighed in on ACAD. Vetr upgraded Acadia Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $45.04 price target for the company in a research report on Monday, June 13th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $44.00 price target on shares of Acadia Pharmaceuticals in a research report on Monday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $49.00 price target on shares of Acadia Pharmaceuticals in a research report on Friday, August 5th. Aegis lowered Acadia Pharmaceuticals from a “buy” rating to a “hold” rating and decreased their price target for the company from $54.00 to $41.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. Finally, Cowen and Company reiterated an “outperform” rating and issued a $42.00 price target on shares of Acadia Pharmaceuticals in a research report on Tuesday, July 26th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $45.70.
Acadia Pharmaceuticals (NASDAQ:ACAD) traded down 3.71% on Thursday, hitting $27.74. 1,784,666 shares of the stock were exchanged. The company’s 50-day moving average is $32.95 and its 200-day moving average is $33.00. Acadia Pharmaceuticals has a 52 week low of $16.64 and a 52 week high of $43.30. The company’s market cap is $3.16 billion.
Acadia Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.49) by $0.14. Acadia Pharmaceuticals had a negative net margin of 131,066.23% and a negative return on equity of 64.25%. The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.71 million. During the same period in the prior year, the company earned ($0.39) EPS. The company’s revenue was up 96900.0% compared to the same quarter last year.
Several large investors have recently bought and sold shares of ACAD. Tower Research Capital LLC TRC increased its stake in Acadia Pharmaceuticals by 1,529.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,205 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 3,947 shares during the period. Winslow Evans & Crocker Inc. raised its position in shares of Acadia Pharmaceuticals by 120.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,400 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 2,400 shares in the last quarter. BlackRock Inc. raised its position in shares of Acadia Pharmaceuticals by 139.5% in the first quarter. BlackRock Inc. now owns 5,414 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 3,153 shares in the last quarter. IFP Advisors Inc raised its position in shares of Acadia Pharmaceuticals by 28.7% in the first quarter. IFP Advisors Inc now owns 5,468 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 1,219 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new position in shares of Acadia Pharmaceuticals during the second quarter worth approximately $198,000. 92.10% of the stock is owned by institutional investors.
In other news, EVP Glenn Baity sold 4,057 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $35.00, for a total transaction of $141,995.00. Following the completion of the sale, the executive vice president now directly owns 66,978 shares of the company’s stock, valued at approximately $2,344,230. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bros. Advisors Lp Baker purchased 1,303,030 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were purchased at an average cost of $33.00 per share, with a total value of $42,999,990.00. The disclosure for this purchase can be found here. Insiders own 21.65% of the company’s stock.
Acadia Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system disorders. The Company’s lead drug candidate, NUPLAZID (pimavanserin), is under development for the treatment of Parkinson’s disease psychosis (PDP).
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