Equities analysts expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to announce earnings of ($0.37) per share for the current quarter, Zacks reports. Six analysts have made estimates for ACADIA Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.34) and the lowest estimate coming in at ($0.40). ACADIA Pharmaceuticals reported earnings per share of ($0.50) in the same quarter last year, which would suggest a positive year-over-year growth rate of 26%. The business is expected to issue its next quarterly earnings report after the market closes on Wednesday, February 26th.
On average, analysts expect that ACADIA Pharmaceuticals will report full-year earnings of ($1.62) per share for the current year, with EPS estimates ranging from ($1.65) to ($1.59). For the next year, analysts anticipate that the firm will post earnings of ($1.29) per share, with EPS estimates ranging from ($2.11) to $0.45. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow ACADIA Pharmaceuticals.
Several research firms have commented on ACAD. HC Wainwright reissued a “buy” rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, December 5th. Zacks Investment Research downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, December 31st. Oppenheimer assumed coverage on ACADIA Pharmaceuticals in a research report on Thursday, October 24th. They set a “market perform” rating and a $44.00 target price on the stock. Cantor Fitzgerald boosted their price target on ACADIA Pharmaceuticals from $63.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Sunday, January 19th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $52.25.
In other news, EVP Michael J. Yang sold 105,479 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $44.46, for a total value of $4,689,596.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $52.34, for a total value of $7,851,000.00. Following the sale, the chief executive officer now directly owns 152,954 shares in the company, valued at $8,005,612.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 316,000 shares of company stock worth $15,482,986. Company insiders own 29.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ACAD. Assenagon Asset Management S.A. bought a new stake in ACADIA Pharmaceuticals during the third quarter valued at $713,000. Meeder Asset Management Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 2,051.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 6,176 shares of the biopharmaceutical company’s stock valued at $221,000 after buying an additional 5,889 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at about $383,000. Coastal Investment Advisors Inc. bought a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at about $36,000. Finally, Whittier Trust Co. bought a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 92.95% of the company’s stock.
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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