Zacks: Analysts Expect ACADIA Pharmaceuticals Inc. (ACAD) Will Announce Quarterly Sales of $59.24 Million

Wall Street analysts predict that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) will report $59.24 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for ACADIA Pharmaceuticals’ earnings, with estimates ranging from $57.50 million to $60.90 million. ACADIA Pharmaceuticals reported sales of $43.56 million during the same quarter last year, which indicates a positive year-over-year growth rate of 36%. The company is expected to issue its next earnings report on Tuesday, February 26th.

According to Zacks, analysts expect that ACADIA Pharmaceuticals will report full-year sales of $223.50 million for the current year, with estimates ranging from $221.80 million to $225.10 million. For the next financial year, analysts expect that the firm will report sales of $286.13 million, with estimates ranging from $265.90 million to $298.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.08. ACADIA Pharmaceuticals had a negative return on equity of 88.18% and a negative net margin of 119.62%. The company had revenue of $58.31 million during the quarter, compared to analyst estimates of $56.31 million. During the same quarter last year, the firm posted ($0.53) earnings per share. The firm’s revenue was up 63.9% on a year-over-year basis.

ACAD has been the subject of several recent research reports. Piper Jaffray Companies lowered ACADIA Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Monday, August 6th. Stifel Nicolaus initiated coverage on ACADIA Pharmaceuticals in a research report on Tuesday, August 7th. They set a “hold” rating and a $17.00 price objective for the company. BidaskClub lowered ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 9th. Finally, JMP Securities lowered their price objective on ACADIA Pharmaceuticals from $50.00 to $27.00 and set a “market outperform” rating for the company in a research report on Thursday, August 9th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. ACADIA Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $31.80.

In related news, Director Bros. Advisors Lp Baker purchased 1,210,776 shares of the stock in a transaction dated Thursday, September 20th. The stock was purchased at an average price of $18.70 per share, with a total value of $22,641,511.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.28% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth about $163,000. Centaurus Financial Inc. bought a new stake in ACADIA Pharmaceuticals in the 2nd quarter worth about $169,000. NEXT Financial Group Inc bought a new stake in ACADIA Pharmaceuticals in the 3rd quarter worth about $176,000. Russell Investments Group Ltd. increased its holdings in ACADIA Pharmaceuticals by 96.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,562 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 4,202 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in ACADIA Pharmaceuticals in the 2nd quarter worth about $179,000. 97.12% of the stock is owned by hedge funds and other institutional investors.

ACAD stock traded down $0.27 on Friday, reaching $18.51. The company’s stock had a trading volume of 694,898 shares, compared to its average volume of 2,542,826. ACADIA Pharmaceuticals has a 12-month low of $12.77 and a 12-month high of $32.99. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -7.84 and a beta of 3.35.

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.

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Earnings History and Estimates for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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