Leerink Partnrs Issues Positive Estimate for ACAD Earnings

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) - Leerink Partnrs raised their Q4 2024 EPS estimates for shares of ACADIA Pharmaceuticals in a note issued to investors on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now forecasts that the biopharmaceutical company will post earnings per share of $0.12 for the quarter, up from their previous forecast of $0.10. The consensus estimate for ACADIA Pharmaceuticals' current full-year earnings is $0.70 per share. Leerink Partnrs also issued estimates for ACADIA Pharmaceuticals' FY2025 earnings at $0.75 EPS, FY2027 earnings at $1.44 EPS and FY2028 earnings at $2.13 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. ACADIA Pharmaceuticals's revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the company earned ($0.40) EPS.

Several other equities research analysts have also recently weighed in on the stock. StockNews.com cut shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 14th. 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. Raymond James reissued a "market perform" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Guggenheim cut ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. Finally, HC Wainwright reissued a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.25.

ACADIA Pharmaceuticals Trading Down 0.8 %

NASDAQ:ACAD traded down $0.15 on Thursday, reaching $18.51. 1,497,752 shares of the stock traded hands, compared to its average volume of 3,621,460. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 23.73 and a beta of 0.37. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $26.78. The company's 50 day moving average is $17.50 and its 200-day moving average is $16.62.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after purchasing an additional 1,966,607 shares in the last quarter. Iron Triangle Partners LP purchased a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $11,535,000. Dimensional Fund Advisors LP bought a new position in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $10,550,000. Eventide Asset Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the third quarter valued at approximately $8,882,000. Finally, Fred Alger Management LLC lifted its holdings in ACADIA Pharmaceuticals by 17.8% during the third quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company's stock worth $49,007,000 after acquiring an additional 481,950 shares during the period. Hedge funds and other institutional investors own 96.71% of the company's stock.

Insiders Place Their Bets

In related news, insider James Kihara sold 4,073 shares of ACADIA Pharmaceuticals stock in a transaction that occurred 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 transaction, the insider now owns 19,863 shares of the company's stock, valued at $333,897.03. The trade was a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark C. Schneyer sold 10,259 shares of the company's 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 sale, the chief financial officer now owns 53,302 shares of the company's stock, valued at $896,006.62. This trade represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,661 shares of company stock valued at $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.