FY2024 Earnings Estimate for ACAD Issued By HC Wainwright

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) - Stock analysts at HC Wainwright decreased their FY2024 EPS estimates for ACADIA Pharmaceuticals in a research report issued to clients and investors on Thursday, November 7th. HC Wainwright analyst A. Fein now expects that the biopharmaceutical company will earn $0.63 per share for the year, down from their previous forecast 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.

Several other equities research analysts have also issued reports on ACAD. Morgan Stanley lowered shares of ACADIA Pharmaceuticals from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $28.00 to $20.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald cut their target price on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada lowered their price target 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. StockNews.com upgraded ACADIA Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, September 13th. Finally, Citigroup lowered their price objective on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.56.

ACADIA Pharmaceuticals Stock Up 3.5 %

NASDAQ:ACAD traded up $0.61 during trading hours on Monday, reaching $18.27. The company had a trading volume of 1,490,243 shares, compared to its average volume of 1,689,055. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 22.64 and a beta of 0.38. The business's 50-day simple moving average is $15.45 and its two-hundred day simple moving average is $15.97. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $248.83 million. During the same quarter last year, the business earned ($0.40) EPS. The company's quarterly revenue was up 18.3% compared to the same quarter last year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, COO Brendan Teehan sold 9,534 shares of the firm'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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the transaction, the chief operating officer now directly owns 52,177 shares of the company's stock, valued at approximately $797,264.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen Davis sold 31,747 shares of the company's stock in a transaction dated 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 sale, 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. In the last quarter, insiders have sold 51,014 shares of company stock valued at $779,494. Company insiders own 28.30% of the company's stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Park Place Capital Corp purchased a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $25,000. Values First Advisors Inc. acquired a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at about $27,000. Covestor Ltd increased its stake in ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company's stock worth $38,000 after buying an additional 840 shares during the period. Headlands Technologies LLC purchased a new stake in ACADIA Pharmaceuticals during the 1st quarter worth about $48,000. Finally, Quest Partners LLC boosted its stake in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock valued at $54,000 after buying an additional 1,047 shares during the period. 96.71% of the stock is owned by hedge funds and other 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.