$73.07 Million in Sales Expected for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) This Quarter

Wall Street brokerages predict that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) will announce sales of $73.07 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for ACADIA Pharmaceuticals’ earnings, with estimates ranging from $69.25 million to $76.50 million. ACADIA Pharmaceuticals reported sales of $57.06 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 28.1%. The business is expected to report its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that ACADIA Pharmaceuticals will report full year sales of $292.84 million for the current fiscal year, with estimates ranging from $285.18 million to $299.40 million. For the next fiscal year, analysts expect that the company will post sales of $416.22 million, with estimates ranging from $358.50 million to $582.53 million. Zacks’ sales averages are an average based on a survey of research firms that cover ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.05). The business had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.93 million. ACADIA Pharmaceuticals had a negative return on equity of 79.74% and a negative net margin of 116.10%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period last year, the firm earned ($0.44) earnings per share.

A number of brokerages recently issued reports on ACAD. ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, July 1st. Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, May 6th. HC Wainwright restated a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Friday, May 3rd. Finally, Cantor Fitzgerald restated a “buy” rating and set a $30.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $32.31.

NASDAQ ACAD traded up $0.34 during trading on Thursday, reaching $27.07. 39,040 shares of the stock traded hands, compared to its average volume of 988,717. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -14.03 and a beta of 2.88. The firm’s 50-day moving average is $25.75. The company has a current ratio of 6.35, a quick ratio of 6.29 and a debt-to-equity ratio of 0.02. ACADIA Pharmaceuticals has a fifty-two week low of $12.77 and a fifty-two week high of $28.67.

Several institutional investors have recently added to or reduced their stakes in ACAD. FMR LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 14.9% in the fourth quarter. FMR LLC now owns 21,543,893 shares of the biopharmaceutical company’s stock valued at $348,364,000 after buying an additional 2,792,885 shares during the period. Great Point Partners LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 130.1% in the fourth quarter. Great Point Partners LLC now owns 2,752,256 shares of the biopharmaceutical company’s stock valued at $44,504,000 after buying an additional 1,556,158 shares during the period. Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $15,717,000. Artisan Partners Limited Partnership boosted its holdings in shares of ACADIA Pharmaceuticals by 348.2% in the first quarter. Artisan Partners Limited Partnership now owns 1,131,829 shares of the biopharmaceutical company’s stock valued at $30,390,000 after buying an additional 879,311 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals by 16.4% in the first quarter. First Trust Advisors LP now owns 4,815,776 shares of the biopharmaceutical company’s stock valued at $129,304,000 after buying an additional 677,051 shares during the period. Institutional investors own 93.35% of the company’s stock.

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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