Q1 2024 Earnings Estimate for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Issued By Zacks Research

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADFree Report) – Equities research analysts at Zacks Research lowered their Q1 2024 EPS estimates for ACADIA Pharmaceuticals in a report issued on Tuesday, March 19th. Zacks Research analyst A. Chakraborty now forecasts that the biopharmaceutical company will post earnings of $0.12 per share for the quarter, down from their previous forecast of $0.15. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.66 per share. Zacks Research also issued estimates for ACADIA Pharmaceuticals’ Q2 2024 earnings at $0.18 EPS, Q3 2024 earnings at $0.17 EPS, Q2 2025 earnings at $0.22 EPS, Q3 2025 earnings at $0.21 EPS and FY2026 earnings at $1.31 EPS.

Several other equities research analysts have also recently commented on the stock. Oppenheimer reaffirmed a “market perform” rating and issued a $25.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. Robert W. Baird started coverage on ACADIA Pharmaceuticals in a report on Tuesday, January 30th. They issued an “outperform” rating and a $40.00 target price for the company. Mizuho downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the stock from $39.00 to $25.00 in a research report on Tuesday, March 12th. Royal Bank of Canada dropped their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $36.35.

Read Our Latest Stock Report on ACAD

ACADIA Pharmaceuticals Trading Down 1.3 %

ACADIA Pharmaceuticals stock opened at $18.41 on Wednesday. The firm has a market cap of $3.03 billion, a P/E ratio of -48.45 and a beta of 0.40. ACADIA Pharmaceuticals has a 1-year low of $17.71 and a 1-year high of $33.99. The firm has a 50-day moving average of $24.71 and a 200-day moving average of $24.75.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). The company had revenue of $231.04 million for the quarter, compared to analysts’ expectations of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company’s revenue was up 69.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.26) earnings per share.

Insider Buying and Selling

In related news, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 12,500 shares of company stock worth $335,105 in the last 90 days. 27.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently bought and sold shares of ACAD. Raymond James Financial Services Advisors Inc. purchased a new position in ACADIA Pharmaceuticals during the first quarter worth approximately $572,000. HighTower Advisors LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at about $1,077,000. MetLife Investment Management LLC raised its position in shares of ACADIA Pharmaceuticals by 54.0% during the 1st quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock worth $1,607,000 after purchasing an additional 23,265 shares during the last quarter. Rhumbline Advisers lifted its stake in ACADIA Pharmaceuticals by 3.9% in the 1st quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock valued at $3,232,000 after buying an additional 5,011 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter worth about $1,380,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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