Analysts Expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to Announce -$0.24 EPS

Brokerages expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) to announce ($0.24) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for ACADIA Pharmaceuticals’ earnings, with estimates ranging from ($0.28) to ($0.20). ACADIA Pharmaceuticals reported earnings of ($0.27) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that ACADIA Pharmaceuticals will report full-year earnings of ($1.41) per share for the current financial year, with EPS estimates ranging from ($1.59) to ($1.30). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.75) per share, with EPS estimates ranging from ($1.42) to $0.09. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last posted its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27. The firm had revenue of $115.47 million for the quarter, compared to analysts’ expectations of $122.22 million. ACADIA Pharmaceuticals had a negative net margin of 43.50% and a negative return on equity of 40.52%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.42) earnings per share.

ACAD has been the topic of several analyst reports. The Goldman Sachs Group reduced their price objective on shares of ACADIA Pharmaceuticals from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, March 7th. Mizuho reduced their price objective on shares of ACADIA Pharmaceuticals from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 19th. HC Wainwright raised shares of ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $18.00 to $36.00 in a research note on Wednesday, February 9th. Morgan Stanley reissued a “hold” rating and issued a $24.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 18th. Finally, Citigroup boosted their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $32.00 in a research note on Tuesday, March 1st. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has an average rating of “Hold” and a consensus price target of $29.41.

Shares of NASDAQ ACAD traded up $0.82 during midday trading on Friday, reaching $16.85. 2,642,224 shares of the company were exchanged, compared to its average volume of 1,737,200. The stock’s 50-day moving average price is $22.56 and its 200-day moving average price is $22.56. The stock has a market cap of $2.72 billion, a P/E ratio of -12.67 and a beta of 0.67. ACADIA Pharmaceuticals has a one year low of $15.16 and a one year high of $28.06.

In other news, President Srdjan R. Stankovic sold 2,865 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $18.18, for a total transaction of $52,085.70. Following the completion of the sale, the president now owns 55,188 shares in the company, valued at $1,003,317.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Srdjan R. Stankovic sold 1,501 shares of the business’s stock in a transaction that occurred on Wednesday, February 23rd. The shares were sold at an average price of $23.80, for a total value of $35,723.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,861 shares of company stock valued at $373,381. 28.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACAD. Renaissance Technologies LLC purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at approximately $351,000. Charles Schwab Investment Management Inc. boosted its position in shares of ACADIA Pharmaceuticals by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 936,774 shares of the biopharmaceutical company’s stock valued at $22,689,000 after buying an additional 53,773 shares during the last quarter. Mariner LLC purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at approximately $277,000. Prudential Financial Inc. boosted its position in shares of ACADIA Pharmaceuticals by 140.4% during the first quarter. Prudential Financial Inc. now owns 23,731 shares of the biopharmaceutical company’s stock valued at $575,000 after buying an additional 13,861 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at approximately $218,000. Hedge funds and other institutional investors own 91.74% of the company’s stock.

ACADIA Pharmaceuticals Company Profile (Get Rating)

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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