Leerink Partnrs Brokers Increase Earnings Estimates for ACAD

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) - Equities research analysts at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for shares of ACADIA Pharmaceuticals in a research note issued to investors on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now anticipates that the biopharmaceutical company will post earnings of $0.62 per share for the year, up from their prior estimate of $0.59. The consensus estimate for ACADIA Pharmaceuticals' current full-year earnings is $0.70 per share. Leerink Partnrs also issued estimates for ACADIA Pharmaceuticals' FY2026 earnings at $1.04 EPS.

A number of other analysts have also commented on the company. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. HC Wainwright restated a "buy" rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Guggenheim cut shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their target price for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. StockNews.com lowered shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Finally, Raymond James reiterated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $25.25.

ACADIA Pharmaceuticals Stock Up 1.4 %

ACAD stock traded up $0.27 during trading on Friday, reaching $18.78. The stock had a trading volume of 503,640 shares, compared to its average volume of 3,479,731. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 24.09 and a beta of 0.37. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $26.78. The company's 50 day moving average is $17.54 and its two-hundred day moving average is $16.62.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) 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 25.83% and a net margin of 13.83%. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. During the same period in the prior year, the firm posted ($0.40) EPS. ACADIA Pharmaceuticals's quarterly revenue was up 18.3% compared to the same quarter last year.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Park Place Capital Corp purchased a new stake in ACADIA Pharmaceuticals during the third quarter valued at about $25,000. Values First Advisors Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at about $27,000. R Squared Ltd purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter worth approximately $47,000. Quest Partners LLC boosted its stake in ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 1,047 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after acquiring an additional 2,044 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

Insider Buying and Selling

In related news, CFO Mark C. Schneyer sold 10,259 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the sale, the chief financial officer now directly owns 53,302 shares of the company's stock, valued at $896,006.62. This trade represents a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James Kihara sold 4,073 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the sale, the insider now owns 19,863 shares of the company's stock, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,661 shares of company stock worth $414,551. Corporate insiders own 28.30% 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.