$122.87 Million in Sales Expected for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) This Quarter

Wall Street brokerages expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to report sales of $122.87 million for the current quarter, according to Zacks. Seven analysts have made estimates for ACADIA Pharmaceuticals’ earnings. The highest sales estimate is $127.14 million and the lowest is $120.50 million. ACADIA Pharmaceuticals posted sales of $98.33 million during the same quarter last year, which would indicate a positive year over year growth rate of 25%. The company is expected to announce its next quarterly earnings results on Wednesday, February 24th.

On average, analysts expect that ACADIA Pharmaceuticals will report full-year sales of $443.81 million for the current financial year, with estimates ranging from $441.20 million to $447.89 million. For the next financial year, analysts forecast that the company will report sales of $679.69 million, with estimates ranging from $593.08 million to $777.25 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Monday, November 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.16). ACADIA Pharmaceuticals had a negative return on equity of 40.35% and a negative net margin of 63.92%. The company had revenue of $120.58 million during the quarter, compared to analysts’ expectations of $118.82 million. During the same period in the prior year, the firm earned ($0.29) EPS. ACADIA Pharmaceuticals’s quarterly revenue was up 27.5% on a year-over-year basis.

A number of equities analysts have commented on the stock. SVB Leerink cut their price target on shares of ACADIA Pharmaceuticals from $56.00 to $52.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Oppenheimer restated a “hold” rating and issued a $42.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, August 6th. Raymond James upgraded shares of ACADIA Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a report on Monday, November 16th. Morgan Stanley boosted their price objective on shares of ACADIA Pharmaceuticals from $57.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Finally, HC Wainwright restated a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, August 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. ACADIA Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $59.59.

In other ACADIA Pharmaceuticals news, President Srdjan R. Stankovic sold 2,728 shares of the stock in a transaction that occurred on Friday, November 20th. The stock was sold at an average price of $53.50, for a total transaction of $145,948.00. Following the transaction, the president now owns 19,256 shares of the company’s stock, valued at approximately $1,030,196. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Austin D. Kim sold 8,750 shares of the stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $45.10, for a total value of $394,625.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,982 shares of company stock worth $774,823. 27.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Evolution Wealth Advisors LLC raised its holdings in shares of ACADIA Pharmaceuticals by 61.7% during the third quarter. Evolution Wealth Advisors LLC now owns 655 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 250 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of ACADIA Pharmaceuticals by 3.9% during the third quarter. SG Americas Securities LLC now owns 8,485 shares of the biopharmaceutical company’s stock worth $350,000 after acquiring an additional 317 shares in the last quarter. Xponance Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 3.0% during the third quarter. Xponance Inc. now owns 11,567 shares of the biopharmaceutical company’s stock worth $477,000 after acquiring an additional 338 shares in the last quarter. Spearhead Capital Advisors LLC raised its holdings in shares of ACADIA Pharmaceuticals by 7.3% during the third quarter. Spearhead Capital Advisors LLC now owns 5,383 shares of the biopharmaceutical company’s stock worth $222,000 after acquiring an additional 364 shares in the last quarter. Finally, Boenning & Scattergood Inc. raised its holdings in ACADIA Pharmaceuticals by 1.2% during the third quarter. Boenning & Scattergood Inc. now owns 33,875 shares of the biopharmaceutical company’s stock valued at $1,397,000 after buying an additional 400 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

ACAD stock opened at $53.57 on Thursday. ACADIA Pharmaceuticals has a one year low of $30.02 and a one year high of $58.72. The stock has a market cap of $8.52 billion, a PE ratio of -31.15 and a beta of 1.42. The firm has a 50 day simple moving average of $45.90 and a two-hundred day simple moving average of $45.57.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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Earnings History and Estimates for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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