FY2016 Earnings Forecast for Acadia Pharmaceuticals Inc. (ACAD) Issued By Leerink Swann
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) – Stock analysts at Leerink Swann dropped their FY2016 earnings estimates for shares of Acadia Pharmaceuticals in a research note issued on Monday. Leerink Swann analyst P. Matteis now expects that the firm will post earnings of ($2.38) per share for the year, down from their prior forecast of ($2.08). Leerink Swann has a “Hold” rating and a $29.00 price objective on the stock. Leerink Swann also issued estimates for Acadia Pharmaceuticals’ Q4 2016 earnings at ($0.68) EPS, FY2017 earnings at ($2.36) EPS, FY2018 earnings at ($1.73) EPS, FY2019 earnings at ($1.03) EPS and FY2020 earnings at $0.17 EPS.
Other equities analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $49.00 price target on shares of Acadia Pharmaceuticals in a report on Friday, August 5th. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Acadia Pharmaceuticals in a report on Monday, August 8th. Vetr downgraded shares of Acadia Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $41.00 price target on the stock. in a report on Tuesday, July 26th. JMP Securities reiterated a “buy” rating and set a $45.00 price target on shares of Acadia Pharmaceuticals in a report on Wednesday, August 10th. Finally, Jefferies Group reiterated a “buy” rating on shares of Acadia Pharmaceuticals in a report on Wednesday, August 10th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $41.67.
Shares of Acadia Pharmaceuticals (NASDAQ:ACAD) opened at 28.81 on Thursday. The company’s market cap is $3.28 billion. Acadia Pharmaceuticals has a 12 month low of $16.64 and a 12 month high of $42.49. The company’s 50 day moving average is $26.65 and its 200 day moving average is $32.03.
Acadia Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by $0.05. The firm had revenue of $5.30 million for the quarter, compared to the consensus estimate of $2.90 million. Acadia Pharmaceuticals had a negative net margin of 4,427.79% and a negative return on equity of 58.46%. Acadia Pharmaceuticals’s revenue was up 13489.7% on a year-over-year basis. During the same period last year, the business earned ($0.39) EPS.
In other news, Director Edmund Harrigan bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was bought at an average price of $32.97 per share, with a total value of $32,970.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $32,970. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 21.65% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Morgan Stanley boosted its stake in Acadia Pharmaceuticals by 31.3% in the third quarter. Morgan Stanley now owns 217,680 shares of the biopharmaceutical company’s stock worth $6,925,000 after buying an additional 51,940 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Acadia Pharmaceuticals during the third quarter worth approximately $340,000. Sectoral Asset Management Inc boosted its stake in Acadia Pharmaceuticals by 89.0% in the third quarter. Sectoral Asset Management Inc now owns 55,897 shares of the biopharmaceutical company’s stock worth $1,778,000 after buying an additional 26,315 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Acadia Pharmaceuticals by 5.4% in the third quarter. Principal Financial Group Inc. now owns 20,045 shares of the biopharmaceutical company’s stock worth $638,000 after buying an additional 1,032 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Acadia Pharmaceuticals by 6.8% in the third quarter. Northern Trust Corp now owns 436,148 shares of the biopharmaceutical company’s stock worth $13,873,000 after buying an additional 27,821 shares during the last quarter. 92.08% of the stock is owned by institutional investors.
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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