ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Expected to Post Quarterly Sales of $128.69 Million

Analysts expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to announce sales of $128.69 million for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for ACADIA Pharmaceuticals’ earnings. The lowest sales estimate is $125.00 million and the highest is $134.30 million. ACADIA Pharmaceuticals reported sales of $110.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 16.9%. The firm is scheduled to issue its next earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that ACADIA Pharmaceuticals will report full year sales of $523.86 million for the current fiscal year, with estimates ranging from $511.90 million to $541.61 million. For the next financial year, analysts forecast that the business will post sales of $638.13 million, with estimates ranging from $559.00 million to $803.74 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, May 4th. The biopharmaceutical company reported ($0.42) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.53) by $0.11. The business had revenue of $106.55 million for the quarter, compared to the consensus estimate of $112.91 million. ACADIA Pharmaceuticals had a negative net margin of 56.74% and a negative return on equity of 41.17%.

ACAD has been the subject of several research reports. Cantor Fitzgerald upped their price target on shares of ACADIA Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 6th. They noted that the move was a valuation call. Oppenheimer lowered their price target on shares of ACADIA Pharmaceuticals from $42.00 to $28.00 and set a “market perform” rating for the company in a research report on Tuesday, March 9th. Royal Bank of Canada lowered their price target on shares of ACADIA Pharmaceuticals from $60.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, March 9th. Cowen lowered their price target on shares of ACADIA Pharmaceuticals from $66.00 to $57.00 and set an “outperform” rating for the company in a research report on Tuesday, March 9th. Finally, Guggenheim reissued a “neutral” rating on shares of ACADIA Pharmaceuticals in a research report on Monday, March 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. ACADIA Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $32.44.

Shares of ACAD traded up $1.17 during mid-day trading on Friday, hitting $27.30. The company’s stock had a trading volume of 1,681,508 shares, compared to its average volume of 2,029,807. The company has a 50-day moving average price of $21.69. ACADIA Pharmaceuticals has a 52-week low of $19.20 and a 52-week high of $58.72. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -15.84 and a beta of 0.74.

In other news, President Srdjan R. Stankovic sold 4,230 shares of the stock in a transaction on Friday, April 30th. The shares were sold at an average price of $20.33, for a total value of $85,995.90. Following the sale, the president now owns 40,664 shares in the company, valued at $826,699.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen Davis sold 7,850 shares of the stock in a transaction on Friday, April 30th. The stock was sold at an average price of $20.33, for a total transaction of $159,590.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,166 shares of company stock valued at $287,995. Corporate insiders own 28.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. purchased a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $28,000. Retirement Group LLC purchased a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $28,000. Charter Oak Capital Management LLC purchased a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $33,000. Perigon Wealth Management LLC purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $86,000. Finally, Captrust Financial Advisors purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $95,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; Trofinetide, a novel synthetic analog for the treatment of Rett syndrome; ACP-044, a novel first-in-class orally administered non-opioid analgesic for treating acute and chronic pain; and ACP-319, a positive allosteric modulator of the muscarinic receptor for treating cognition and schizophrenia.

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

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