Analysts Expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Will Announce Quarterly Sales of $88.61 Million

Wall Street brokerages expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to announce $88.61 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for ACADIA Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $85.70 million and the highest estimate coming in at $91.53 million. ACADIA Pharmaceuticals posted sales of $58.31 million during the same quarter last year, which suggests a positive year over year growth rate of 52%. The firm is scheduled to announce its next earnings results on Tuesday, November 5th.

On average, analysts expect that ACADIA Pharmaceuticals will report full year sales of $326.72 million for the current financial year, with estimates ranging from $324.20 million to $329.77 million. For the next year, analysts expect that the firm will report sales of $487.55 million, with estimates ranging from $416.80 million to $693.18 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. ACADIA Pharmaceuticals had a negative net margin of 101.45% and a negative return on equity of 70.97%. The company had revenue of $83.21 million during the quarter, compared to the consensus estimate of $72.50 million. During the same period in the previous year, the firm posted ($0.51) EPS. The firm’s revenue was up 45.8% compared to the same quarter last year.

Several brokerages have recently issued reports on ACAD. Cantor Fitzgerald reiterated a “buy” rating and issued a $30.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, April 25th. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Raymond James raised their target price on shares of ACADIA Pharmaceuticals from $40.00 to $43.00 and gave the stock a “strong-buy” rating in a report on Friday, May 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, August 5th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.91.

Shares of ACAD stock traded down $0.47 during mid-day trading on Monday, reaching $29.36. The stock had a trading volume of 25,443 shares, compared to its average volume of 1,978,010. ACADIA Pharmaceuticals has a 52-week low of $13.17 and a 52-week high of $30.38. The company has a current ratio of 6.85, a quick ratio of 6.79 and a debt-to-equity ratio of 0.02. The stock’s 50-day moving average price is $27.20 and its two-hundred day moving average price is $25.77. The firm has a market capitalization of $4.28 billion, a PE ratio of -15.14 and a beta of 2.85.

Hedge funds have recently bought and sold shares of the stock. Clearbridge Investments LLC purchased a new position in ACADIA Pharmaceuticals in the 1st quarter worth about $27,000. Twin Tree Management LP purchased a new position in ACADIA Pharmaceuticals during the 1st quarter valued at about $29,000. Steward Partners Investment Advisory LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $42,000. Quantamental Technologies LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $57,000. Finally, First Quadrant L P CA purchased a new position in ACADIA Pharmaceuticals during the 1st quarter valued at about $59,000. 95.56% of the stock is currently owned by institutional investors.

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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