FY2024 Earnings Estimate for ACAD Issued By Leerink Partnrs

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Analysts at Leerink Partnrs decreased their FY2024 earnings per share estimates for shares of ACADIA Pharmaceuticals in a research report issued on Sunday, November 17th. Leerink Partnrs analyst M. Goodman now forecasts that the biopharmaceutical company will earn $0.59 per share for the year, down from their prior forecast of $0.60. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.72 per share.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping 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 company had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. The business’s revenue was up 18.3% on a year-over-year basis.

ACAD has been the topic of several other reports. Cantor Fitzgerald decreased their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. UBS Group lowered their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Finally, Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $28.00 to $20.00 in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Stock Up 1.6 %

Shares of NASDAQ:ACAD opened at $17.03 on Tuesday. The firm has a market cap of $2.83 billion, a P/E ratio of 21.83 and a beta of 0.38. ACADIA Pharmaceuticals has a 12 month low of $14.15 and a 12 month high of $32.59. The company’s 50-day moving average price is $15.59 and its two-hundred day moving average price is $15.99.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Large investors have recently modified their holdings of the business. Park Place Capital Corp acquired a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at approximately $25,000. Values First Advisors Inc. bought a new position in ACADIA Pharmaceuticals in the third quarter valued at approximately $27,000. Covestor Ltd boosted its holdings in shares of ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 840 shares during the period. Quest Partners LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 1,047 shares during the period. Finally, Stonepine Capital Management LLC bought a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth $81,000. 96.71% of the stock is currently owned by institutional investors.

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.