Zacks Research Has Bullish Estimate for ACAD FY2024 Earnings

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Zacks Research upped their FY2024 earnings per share (EPS) estimates for ACADIA Pharmaceuticals in a research report issued on Wednesday, November 27th. Zacks Research analyst A. Chakraborty now expects that the biopharmaceutical company will earn $0.57 per share for the year, up from their previous forecast of $0.50. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.73 per share. Zacks Research also issued estimates for ACADIA Pharmaceuticals’ Q4 2024 earnings at $0.07 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.21 EPS, Q1 2026 earnings at $0.19 EPS and Q3 2026 earnings at $0.38 EPS.

A number of other analysts have also issued reports on ACAD. Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $28.00 to $20.00 in a report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Cantor Fitzgerald reduced their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lowered their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD opened at $16.61 on Monday. ACADIA Pharmaceuticals has a 52 week low of $14.15 and a 52 week high of $32.59. The company has a market cap of $2.76 billion, a PE ratio of 20.69 and a beta of 0.38. The firm has a 50 day simple moving average of $15.61 and a 200 day simple moving average of $16.01.

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

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 10,329 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $173,630.49. Following the completion of the transaction, the chief operating officer now owns 62,105 shares of the company’s stock, valued at $1,043,985.05. The trade was a 14.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the sale, the chief financial officer now owns 53,302 shares of the company’s stock, valued at $896,006.62. This trade represents a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock valued at $414,551 over the last 90 days. 28.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ACAD. State Street Corp boosted its position in shares of ACADIA Pharmaceuticals by 3.0% in the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after acquiring an additional 173,084 shares during the period. Fred Alger Management LLC boosted its holdings in ACADIA Pharmaceuticals by 17.8% in the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock valued at $49,007,000 after purchasing an additional 481,950 shares during the period. Millennium Management LLC grew its position in ACADIA Pharmaceuticals by 36.2% in the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock worth $47,738,000 after purchasing an additional 781,070 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 11.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock worth $47,693,000 after purchasing an additional 292,906 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of ACADIA Pharmaceuticals by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after buying an additional 30,826 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

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.