Zacks: Analysts Expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to Post -$0.26 EPS

Brokerages expect that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) will report ($0.26) earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for ACADIA Pharmaceuticals’ earnings. The highest EPS estimate is ($0.19) and the lowest is ($0.32). ACADIA Pharmaceuticals reported earnings per share of ($0.54) during the same quarter last year, which indicates a positive year over year growth rate of 51.9%. The business is scheduled to report its next earnings report on Wednesday, November 3rd.

On average, analysts expect that ACADIA Pharmaceuticals will report full year earnings of ($1.23) per share for the current year, with EPS estimates ranging from ($1.40) to ($1.13). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.90) per share, with EPS estimates ranging from ($1.28) to $0.34. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, August 3rd. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. ACADIA Pharmaceuticals had a negative net margin of 56.49% and a negative return on equity of 43.11%. The firm had revenue of $115.22 million during the quarter, compared to the consensus estimate of $124.94 million. During the same period in the prior year, the firm earned ($0.27) EPS. The business’s revenue was up 4.7% on a year-over-year basis.

Several research analysts recently commented on the company. SVB Leerink cut their price target on ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday, August 5th. Morgan Stanley dropped their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, August 5th. Raymond James set a $23.71 price target on shares of ACADIA Pharmaceuticals in a research report on Saturday, July 10th. Berenberg Bank initiated coverage on ACADIA Pharmaceuticals in a research note on Thursday, June 10th. They issued a “hold” rating and a $29.00 target price on the stock. Finally, Cantor Fitzgerald decreased their price target on ACADIA Pharmaceuticals from $33.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, August 5th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.32.

Shares of NASDAQ:ACAD traded down $0.13 during trading on Tuesday, hitting $17.28. 78,474 shares of the company’s stock were exchanged, compared to its average volume of 1,837,315. The business’s 50-day simple moving average is $18.28 and its 200 day simple moving average is $21.60. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -10.52 and a beta of 0.66. ACADIA Pharmaceuticals has a 52-week low of $15.68 and a 52-week high of $57.46.

A number of hedge funds have recently added to or reduced their stakes in ACAD. BlackRock Inc. grew its position in shares of ACADIA Pharmaceuticals by 37.0% during the 2nd quarter. BlackRock Inc. now owns 10,139,203 shares of the biopharmaceutical company’s stock worth $247,295,000 after buying an additional 2,737,601 shares during the period. Price T Rowe Associates Inc. MD boosted its position in ACADIA Pharmaceuticals by 22.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,198,831 shares of the biopharmaceutical company’s stock worth $248,749,000 after purchasing an additional 1,844,820 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at $36,386,000. First Trust Advisors LP increased its position in ACADIA Pharmaceuticals by 85.4% in the 2nd quarter. First Trust Advisors LP now owns 2,924,637 shares of the biopharmaceutical company’s stock valued at $71,332,000 after acquiring an additional 1,347,516 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 92.3% during the 1st quarter. Ameriprise Financial Inc. now owns 2,434,051 shares of the biopharmaceutical company’s stock worth $62,791,000 after purchasing an additional 1,168,541 shares during the period. 91.18% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals, Inc operates as a biopharmaceutical company. It focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. The firm’s products include Nuplazid, which is used 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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