FY2024 Earnings Forecast for ACAD Issued By Leerink Partnrs

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Leerink Partnrs upped their FY2024 earnings per share estimates for shares of ACADIA Pharmaceuticals in a report released on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now expects that the biopharmaceutical company will post earnings per share of $0.62 for the year, up from their previous estimate of $0.59. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.70 per share. Leerink Partnrs also issued estimates for ACADIA Pharmaceuticals’ FY2026 earnings at $1.04 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. During the same period in the prior year, the firm earned ($0.40) EPS. The company’s revenue was up 18.3% compared to the same quarter last year.

A number of other equities analysts have also recently commented on ACAD. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.25.

ACADIA Pharmaceuticals Stock Down 0.2 %

ACADIA Pharmaceuticals stock opened at $18.66 on Friday. ACADIA Pharmaceuticals has a 52-week low of $14.15 and a 52-week high of $26.83. The company has a market cap of $3.10 billion, a P/E ratio of 23.92 and a beta of 0.37. The business has a 50-day simple moving average of $17.50 and a two-hundred day simple moving average of $16.64.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 10,259 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the completion of the sale, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at $896,006.62. The trade was a 16.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brendan Teehan sold 10,329 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $173,630.49. Following the completion of the transaction, the chief operating officer now directly owns 62,105 shares in the company, valued at approximately $1,043,985.05. This trade represents a 14.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,661 shares of company stock worth $414,551 over the last three months. 28.30% of the stock is owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ACAD. Envestnet Asset Management Inc. lifted its stake in ACADIA Pharmaceuticals by 1.9% in the second quarter. Envestnet Asset Management Inc. now owns 107,543 shares of the biopharmaceutical company’s stock worth $1,748,000 after acquiring an additional 1,964 shares during the period. Dimensional Fund Advisors LP purchased a new stake in shares of ACADIA Pharmaceuticals during the second quarter valued at about $10,550,000. Bank of Montreal Can bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $1,570,000. Truist Financial Corp grew its position in shares of ACADIA Pharmaceuticals by 16.0% in the 2nd quarter. Truist Financial Corp now owns 50,006 shares of the biopharmaceutical company’s stock worth $813,000 after buying an additional 6,887 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter worth approximately $1,535,000. Institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.