ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Analysts at SVB Leerink reduced their Q2 2021 earnings per share estimates for ACADIA Pharmaceuticals in a report released on Monday, July 19th. SVB Leerink analyst M. Goodman now anticipates that the biopharmaceutical company will post earnings of ($0.29) per share for the quarter, down from their prior estimate of ($0.24). SVB Leerink has a “Outperform” rating on the stock. SVB Leerink also issued estimates for ACADIA Pharmaceuticals’ Q4 2021 earnings at ($0.31) EPS, FY2021 earnings at ($1.20) EPS, FY2022 earnings at ($0.75) EPS, FY2023 earnings at ($0.30) EPS and FY2024 earnings at $1.66 EPS.
A number of other research firms have also recently issued reports on ACAD. Jefferies Financial Group reiterated a “hold” rating and set a $21.00 price objective (down from $40.00) on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 13th. TheStreet cut shares of ACADIA Pharmaceuticals from a “c-” rating to a “d-” rating in a research report on Friday, April 9th. The Goldman Sachs Group reiterated a “neutral” rating and set a $25.00 price objective (down from $73.00) on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 13th. Canaccord Genuity upped their price target on shares of ACADIA Pharmaceuticals from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, May 12th. Finally, Needham & Company LLC decreased their price target on shares of ACADIA Pharmaceuticals from $44.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, April 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. ACADIA Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $31.82.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, May 4th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.53) by $0.11. The company had revenue of $106.55 million during the quarter, compared to the consensus estimate of $112.91 million. ACADIA Pharmaceuticals had a negative net margin of 56.74% and a negative return on equity of 41.17%.
In related news, CEO Stephen Davis sold 7,850 shares of the firm’s stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $20.33, for a total transaction of $159,590.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Srdjan R. Stankovic sold 4,230 shares of the firm’s stock in a transaction dated Friday, April 30th. The stock was sold at an average price of $20.33, for a total transaction of $85,995.90. Following the sale, the president now owns 40,664 shares of the company’s stock, valued at approximately $826,699.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,166 shares of company stock valued at $287,995. 28.50% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Retirement Group LLC purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $28,000. Captrust Financial Advisors bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $95,000. Allred Capital Management LLC bought a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at approximately $52,000. Fifth Third Bancorp bought a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at approximately $55,000. Finally, Tudor Investment Corp Et Al bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $229,000. Hedge funds and other institutional investors own 90.16% of the company’s stock.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; Trofinetide, a novel synthetic analog for the treatment of Rett syndrome; ACP-044, a novel first-in-class orally administered non-opioid analgesic for treating acute and chronic pain; and ACP-319, a positive allosteric modulator of the muscarinic receptor for treating cognition and schizophrenia.
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