Leerink Partnrs Issues Pessimistic Outlook for ACAD Earnings

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) - Equities research analysts at Leerink Partnrs reduced their FY2027 earnings per share estimates for shares of ACADIA Pharmaceuticals in a report issued on Sunday, November 17th. Leerink Partnrs analyst M. Goodman now forecasts that the biopharmaceutical company will post earnings of $1.50 per share for the year, down from their previous estimate of $1.60. The consensus estimate for ACADIA Pharmaceuticals' current full-year earnings is $0.72 per share. Leerink Partnrs also issued estimates for ACADIA Pharmaceuticals' FY2028 earnings at $2.15 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced 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 net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $250.40 million during the quarter, compared to analysts' expectations of $248.83 million. During the same quarter last year, the company posted ($0.40) earnings per share. The company's revenue for the quarter was up 18.3% compared to the same quarter last year.

Several other research analysts have also issued reports on ACAD. HC Wainwright restated a "buy" rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Cantor Fitzgerald cut their price target 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. Citigroup lowered their price target on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. UBS Group reduced their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.56.

ACADIA Pharmaceuticals Price Performance

ACAD traded up $0.06 during trading on Wednesday, hitting $16.27. 1,083,494 shares of the stock traded hands, compared to its average volume of 1,677,519. The business has a 50 day moving average price of $15.60 and a 200 day moving average price of $15.99. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 20.78 and a beta of 0.38. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $32.59.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ACAD. M&G Plc boosted its position in ACADIA Pharmaceuticals by 12.4% during the 2nd quarter. M&G Plc now owns 351,115 shares of the biopharmaceutical company's stock worth $5,618,000 after acquiring an additional 38,790 shares during the period. 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 worth $43,947,000 after buying an additional 446,875 shares during the period. US Bancorp DE boosted its position in ACADIA Pharmaceuticals by 2,084.0% during the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company's stock worth $507,000 after acquiring an additional 31,426 shares during the period. Sei Investments Co. grew its position in ACADIA Pharmaceuticals by 6.2% during the first quarter. Sei Investments Co. now owns 34,752 shares of the biopharmaceutical company's stock valued at $642,000 after purchasing an additional 2,034 shares in the last quarter. Finally, Hohimer Wealth Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 828.8% in the second quarter. Hohimer Wealth Management LLC now owns 159,133 shares of the biopharmaceutical company's stock worth $2,586,000 after acquiring an additional 142,000 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

Insiders Place Their Bets

In related news, CFO Mark C. Schneyer sold 10,259 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $172,453.79. Following the completion of the sale, the chief financial officer now directly owns 53,302 shares in the company, valued at approximately $896,006.62. This represents a 16.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 4,073 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the transaction, the insider now owns 19,863 shares in the company, valued at $333,897.03. This represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock worth $414,551 in the last 90 days. Corporate insiders own 28.30% of the company's stock.

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.