ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Free Report) – Research analysts at HC Wainwright cut their Q3 2024 EPS estimates for ACADIA Pharmaceuticals in a note issued to investors on Wednesday, August 7th. HC Wainwright analyst A. Fein now anticipates that the biopharmaceutical company will earn $0.22 per share for the quarter, down from their prior forecast of $0.24. HC Wainwright has a “Buy” rating and a $27.00 price target on the stock. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.58 per share. HC Wainwright also issued estimates for ACADIA Pharmaceuticals’ FY2025 earnings at $1.21 EPS and FY2026 earnings at $2.22 EPS.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The company had revenue of $241.96 million for the quarter, compared to analysts’ expectations of $235.95 million. During the same quarter last year, the company posted $0.01 earnings per share. The firm’s quarterly revenue was up 46.4% on a year-over-year basis.
View Our Latest Analysis on ACAD
ACADIA Pharmaceuticals Price Performance
Shares of ACAD stock traded down $0.08 on Thursday, hitting $15.63. 3,837,068 shares of the stock traded hands, compared to its average volume of 1,826,404. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -1,563.00 and a beta of 0.38. ACADIA Pharmaceuticals has a 52 week low of $14.55 and a 52 week high of $32.59. The firm has a 50 day simple moving average of $16.64 and a two-hundred day simple moving average of $18.89.
Institutional Investors Weigh In On ACADIA Pharmaceuticals
Large investors have recently modified their holdings of the business. Covestor Ltd raised its holdings in shares of ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares in the last quarter. Quest Partners LLC bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $39,000. Headlands Technologies LLC bought a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $48,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $100,000. Finally, Acadian Asset Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter worth approximately $111,000. Institutional investors own 96.71% of the company’s stock.
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.
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