Zacks Research Weighs in on ACADIA Pharmaceuticals Inc.’s Q3 2024 Earnings (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Equities researchers at Zacks Research cut their Q3 2024 earnings estimates for ACADIA Pharmaceuticals in a report released on Monday, August 26th. Zacks Research analyst A. Chakraborty now expects that the biopharmaceutical company will post earnings per share of $0.08 for the quarter, down from their previous forecast of $0.14. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.58 per share. Zacks Research also issued estimates for ACADIA Pharmaceuticals’ Q4 2024 earnings at $0.11 EPS and Q3 2025 earnings at $0.18 EPS.

Several other equities research analysts also recently commented on ACAD. Royal Bank of Canada lowered their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $28.00 to $20.00 in a research note on Wednesday, August 7th. Stifel Nicolaus lowered their price objective on shares of ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Finally, StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $25.56.

ACADIA Pharmaceuticals Stock Up 3.9 %

Shares of ACAD opened at $16.32 on Wednesday. ACADIA Pharmaceuticals has a twelve month low of $14.55 and a twelve month high of $32.59. The company has a 50 day moving average of $16.82 and a two-hundred day moving average of $17.85. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -1,632.00 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $241.96 million during the quarter, compared to the consensus estimate of $235.95 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. ACADIA Pharmaceuticals’s revenue was up 46.4% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at $797,264.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark C. Schneyer sold 9,733 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $148,720.24. Following the completion of the sale, the chief financial officer now owns 43,735 shares of the company’s stock, valued at $668,270.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,989 shares of company stock valued at $793,914. Corporate insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC boosted its position in ACADIA Pharmaceuticals by 36.2% during the second quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock worth $47,738,000 after acquiring an additional 781,070 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in ACADIA Pharmaceuticals by 11.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock worth $47,693,000 after acquiring an additional 292,906 shares during the last quarter. Marshall Wace LLP boosted its position in ACADIA Pharmaceuticals by 431.1% during the second quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock worth $45,083,000 after acquiring an additional 2,251,940 shares during the last quarter. Fred Alger Management LLC boosted its position in ACADIA Pharmaceuticals by 19.8% during the second quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock worth $43,947,000 after acquiring an additional 446,875 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in ACADIA Pharmaceuticals by 9.1% in the 4th quarter. First Trust Advisors LP now owns 1,777,307 shares of the biopharmaceutical company’s stock valued at $55,647,000 after purchasing an additional 148,526 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile

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.