Equities research analysts predict that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) will post $31.52 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for ACADIA Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $29.56 million and the highest estimate coming in at $32.61 million. ACADIA Pharmaceuticals reported sales of $5.27 million in the same quarter last year, which indicates a positive year over year growth rate of 498.1%. The company is scheduled to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that ACADIA Pharmaceuticals will report full-year sales of $31.52 million for the current year, with estimates ranging from $106.61 million to $115.60 million. For the next financial year, analysts forecast that the business will report sales of $230.41 million per share, with estimates ranging from $224.00 million to $233.94 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for ACADIA Pharmaceuticals.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.17. The business had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $20.02 million. ACADIA Pharmaceuticals had a negative net margin of 485.14% and a negative return on equity of 62.08%. The business’s quarterly revenue was up 30400.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.63) earnings per share.
Several analysts have recently weighed in on ACAD shares. Zacks Investment Research downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 10th. Needham & Company LLC restated a “buy” rating and set a $49.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Sunday. Finally, Cowen and Company restated an “outperform” rating and set a $46.00 price objective (up previously from $42.00) on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 10th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.23.
In related news, EVP Glenn Baity sold 14,322 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $34.88, for a total value of $499,551.36. Following the completion of the sale, the executive vice president now owns 78,578 shares in the company, valued at approximately $2,740,800.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 78,926 shares of company stock valued at $2,566,760. 22.25% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in ACADIA Pharmaceuticals by 0.5% in the 2nd quarter. FMR LLC now owns 18,306,966 shares of the biopharmaceutical company’s stock valued at $510,582,000 after buying an additional 95,823 shares during the period. Vanguard Group Inc. increased its stake in ACADIA Pharmaceuticals by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,604,605 shares of the biopharmaceutical company’s stock valued at $212,093,000 after buying an additional 134,820 shares during the period. BlackRock Inc. increased its stake in ACADIA Pharmaceuticals by 2.9% in the 2nd quarter. BlackRock Inc. now owns 5,590,706 shares of the biopharmaceutical company’s stock valued at $155,925,000 after buying an additional 157,497 shares during the period. OppenheimerFunds Inc. increased its stake in ACADIA Pharmaceuticals by 3.6% in the 1st quarter. OppenheimerFunds Inc. now owns 4,918,286 shares of the biopharmaceutical company’s stock valued at $169,090,000 after buying an additional 170,289 shares during the period. Finally, State Street Corp increased its stake in ACADIA Pharmaceuticals by 15.8% in the 2nd quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock valued at $104,551,000 after buying an additional 510,670 shares during the period. 97.10% of the stock is currently owned by institutional investors.
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ACADIA Pharmaceuticals (NASDAQ ACAD) traded up 2.12% on Monday, hitting $37.63. 1,202,671 shares of the company’s stock were exchanged. ACADIA Pharmaceuticals has a 12-month low of $20.68 and a 12-month high of $40.83. The company’s 50-day moving average price is $33.31 and its 200-day moving average price is $31.51. The company’s market cap is $4.61 billion.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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