HC Wainwright Has Negative Estimate for ACAD FY2024 Earnings

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Equities researchers at HC Wainwright lowered their FY2024 EPS estimates for ACADIA Pharmaceuticals in a research note issued on Thursday, November 7th. HC Wainwright analyst A. Fein now forecasts that the biopharmaceutical company will post earnings of $0.63 per share for the year, down from their prior estimate of $0.75. HC Wainwright currently has a “Buy” rating and a $27.00 target price on the stock. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.51 per share. HC Wainwright also issued estimates for ACADIA Pharmaceuticals’ FY2026 earnings at $2.25 EPS and FY2027 earnings at $2.42 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 27.29% and a net margin of 13.83%. The firm had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. During the same quarter in the previous year, the company posted ($0.40) EPS. The business’s revenue was up 18.3% on a year-over-year basis.

A number of other equities research analysts have also commented on ACAD. UBS Group reduced their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. Royal Bank of Canada lowered their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Citigroup cut their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $17.93 on Monday. The stock has a market capitalization of $2.97 billion, a PE ratio of 22.99 and a beta of 0.38. The business’s 50 day simple moving average is $15.51 and its 200 day simple moving average is $15.99. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $32.59.

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 directly owns 52,177 shares of the company’s stock, valued at $797,264.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Brendan Teehan sold 9,534 shares of the firm’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 transaction, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares in the company, valued at $2,850,560.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,014 shares of company stock valued at $779,494. Corporate insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACAD. M&G Plc purchased a new stake in ACADIA Pharmaceuticals during the 1st quarter worth about $5,622,000. SG Americas Securities LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 246.7% in the first quarter. SG Americas Securities LLC now owns 84,956 shares of the biopharmaceutical company’s stock worth $1,571,000 after buying an additional 60,452 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 19.8% in the second quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock valued at $43,947,000 after acquiring an additional 446,875 shares during the period. Sei Investments Co. increased its holdings in shares of ACADIA Pharmaceuticals by 6.2% in the first quarter. Sei Investments Co. now owns 34,752 shares of the biopharmaceutical company’s stock worth $642,000 after purchasing an additional 2,034 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at about $48,000. 96.71% of the stock is currently owned by institutional investors.

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.