ACADIA Pharmaceuticals Inc. to Post Q2 2024 Earnings of $0.17 Per Share, Leerink Partnrs Forecasts (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Research analysts at Leerink Partnrs reduced their Q2 2024 EPS estimates for shares of ACADIA Pharmaceuticals in a research note issued to investors on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now anticipates that the biopharmaceutical company will post earnings per share of $0.17 for the quarter, down from their prior estimate of $0.19. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.63 per share. Leerink Partnrs also issued estimates for ACADIA Pharmaceuticals’ Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.21 EPS, FY2024 earnings at $0.62 EPS and FY2025 earnings at $1.11 EPS.

Several other research firms have also recently issued reports on ACAD. JPMorgan Chase & Co. cut their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Robert W. Baird assumed coverage on ACADIA Pharmaceuticals in a report on Tuesday, January 30th. They issued an “outperform” rating and a $40.00 price target on the stock. Royal Bank of Canada reduced their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of ACADIA Pharmaceuticals in a report on Tuesday. Finally, HC Wainwright restated a “buy” rating and set a $33.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.82.

ACADIA Pharmaceuticals Stock Down 2.3 %

Shares of ACAD opened at $17.73 on Thursday. The business has a 50-day simple moving average of $22.04 and a two-hundred day simple moving average of $24.00. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -46.66 and a beta of 0.37. ACADIA Pharmaceuticals has a 52 week low of $17.55 and a 52 week high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The firm had revenue of $231.04 million for the quarter, compared to analysts’ expectations of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The firm’s revenue was up 69.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.26) EPS.

Institutional Trading of ACADIA Pharmaceuticals

A number of large investors have recently modified their holdings of ACAD. Qube Research & Technologies Ltd increased its holdings in ACADIA Pharmaceuticals by 757.2% in the third quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock valued at $4,437,000 after buying an additional 188,080 shares during the last quarter. RTW Investments LP lifted its position in ACADIA Pharmaceuticals by 18.3% during the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after acquiring an additional 1,793,288 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company’s stock valued at $22,363,000 after purchasing an additional 91,641 shares during the period. Northern Trust Corp raised its stake in shares of ACADIA Pharmaceuticals by 4.9% during the third quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock worth $25,439,000 after purchasing an additional 57,555 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 1,284.6% during the third quarter. SG Americas Securities LLC now owns 72,455 shares of the biopharmaceutical company’s stock worth $1,510,000 after purchasing an additional 67,222 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Stephen Davis sold 26,574 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38. Following the transaction, the chief executive officer now directly owns 144,267 shares in the company, valued at approximately $2,578,051.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 2,568 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $45,890.16. Following the transaction, the chief operating officer now directly owns 38,796 shares in the company, valued at $693,284.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 26,574 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $474,877.38. Following the transaction, the chief executive officer now owns 144,267 shares in the company, valued at $2,578,051.29. The disclosure for this sale can be found here. In the last three months, insiders sold 69,383 shares of company stock worth $1,291,362. Corporate insiders own 27.50% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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.