$131.19 Million in Sales Expected for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) This Quarter

Equities research analysts predict that ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) will report sales of $131.19 million for the current quarter, according to Zacks. Eight analysts have made estimates for ACADIA Pharmaceuticals’ earnings, with the highest sales estimate coming in at $135.50 million and the lowest estimate coming in at $126.00 million. ACADIA Pharmaceuticals reported sales of $115.22 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.9%. The firm is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that ACADIA Pharmaceuticals will report full year sales of $530.64 million for the current year, with estimates ranging from $512.60 million to $544.91 million. For the next financial year, analysts expect that the business will post sales of $698.46 million, with estimates ranging from $602.30 million to $778.18 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) last announced its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.27. The company had revenue of $115.47 million during the quarter, compared to the consensus estimate of $122.22 million. ACADIA Pharmaceuticals had a negative return on equity of 40.52% and a negative net margin of 43.50%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.42) earnings per share.

ACAD has been the topic of several recent research reports. Cantor Fitzgerald upped their price target on ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 10th. The Goldman Sachs Group reduced their price target on ACADIA Pharmaceuticals from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, March 7th. Zacks Investment Research raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating and set a $28.00 price target on the stock in a research note on Wednesday, March 23rd. HC Wainwright raised ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price target for the stock from $18.00 to $36.00 in a research note on Wednesday, February 9th. Finally, Canaccord Genuity Group raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the stock from $30.00 to $31.00 in a research note on Wednesday, March 16th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has an average rating of “Hold” and an average target price of $29.41.

Shares of ACADIA Pharmaceuticals stock traded up $0.82 during midday trading on Monday, reaching $16.85. 2,642,224 shares of the company’s stock traded hands, compared to its average volume of 1,737,200. The company has a market cap of $2.72 billion, a PE ratio of -12.67 and a beta of 0.67. The stock has a 50 day moving average of $22.56 and a 200-day moving average of $22.56. ACADIA Pharmaceuticals has a 12 month low of $15.16 and a 12 month high of $28.06.

In related news, President Srdjan R. Stankovic sold 2,865 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $18.18, for a total transaction of $52,085.70. Following the completion of the sale, the president now directly owns 55,188 shares in the company, valued at $1,003,317.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Kihara sold 1,025 shares of the business’s stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $27.05, for a total transaction of $27,726.25. Following the sale, the insider now owns 2,433 shares of the company’s stock, valued at $65,812.65. The disclosure for this sale can be found here. Insiders sold 17,861 shares of company stock valued at $373,381 over the last quarter. Company insiders own 28.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 19.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,115 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 506 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of ACADIA Pharmaceuticals by 74.8% during the fourth quarter. Parallel Advisors LLC now owns 1,365 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 584 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 1.4% during the third quarter. Voya Investment Management LLC now owns 47,779 shares of the biopharmaceutical company’s stock worth $794,000 after acquiring an additional 644 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of ACADIA Pharmaceuticals by 2.2% during the first quarter. Principal Financial Group Inc. now owns 40,349 shares of the biopharmaceutical company’s stock worth $977,000 after acquiring an additional 884 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of ACADIA Pharmaceuticals by 1,081.3% during the fourth quarter. Allworth Financial LP now owns 1,075 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 984 shares during the last quarter. Institutional investors own 91.74% of the company’s stock.

ACADIA Pharmaceuticals Company Profile (Get Rating)

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.

Read More

Get a free copy of the Zacks research report on ACADIA Pharmaceuticals (ACAD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for ACADIA Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.