ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Expected to Post Quarterly Sales of $112.91 Million

Equities analysts predict that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) will report sales of $112.91 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for ACADIA Pharmaceuticals’ earnings. The lowest sales estimate is $105.30 million and the highest is $126.00 million. ACADIA Pharmaceuticals reported sales of $90.07 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.4%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, May 5th.

On average, analysts expect that ACADIA Pharmaceuticals will report full-year sales of $532.74 million for the current year, with estimates ranging from $511.90 million to $545.40 million. For the next financial year, analysts forecast that the firm will post sales of $661.42 million, with estimates ranging from $573.60 million to $803.74 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for ACADIA Pharmaceuticals.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, February 23rd. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.05. ACADIA Pharmaceuticals had a negative return on equity of 40.35% and a negative net margin of 63.92%. The firm had revenue of $121.01 million during the quarter, compared to analyst estimates of $122.87 million.

ACAD has been the subject of a number of research analyst reports. SVB Leerink cut their target price on shares of ACADIA Pharmaceuticals from $63.00 to $31.00 and set an “outperform” rating for the company in a research report on Tuesday, April 6th. Cowen dropped their price target on ACADIA Pharmaceuticals from $66.00 to $57.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 9th. Jefferies Financial Group reissued a “hold” rating and issued a $21.00 price objective (down from $40.00) on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 13th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reaffirmed a “neutral” rating and set a $35.00 target price (down previously from $66.00) on shares of ACADIA Pharmaceuticals in a research report on Monday, March 15th. Finally, Royal Bank of Canada reduced their price target on shares of ACADIA Pharmaceuticals from $60.00 to $36.00 and set an “outperform” rating for the company in a report on Tuesday, March 9th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. ACADIA Pharmaceuticals has a consensus rating of “Hold” and an average price target of $33.78.

Shares of NASDAQ ACAD traded down $0.73 during trading hours on Thursday, hitting $19.52. 2,501,953 shares of the stock were exchanged, compared to its average volume of 2,139,473. ACADIA Pharmaceuticals has a one year low of $19.34 and a one year high of $58.72. The company’s 50 day moving average is $23.32 and its 200 day moving average is $43.54. The firm has a market capitalization of $3.12 billion, a P/E ratio of -11.47 and a beta of 1.44.

In other ACADIA Pharmaceuticals news, President Srdjan R. Stankovic sold 8,429 shares of the business’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $50.61, for a total value of $426,591.69. Following the transaction, the president now directly owns 39,478 shares in the company, valued at $1,997,981.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stephen Davis sold 14,195 shares of the company’s stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $50.61, for a total transaction of $718,408.95. Following the sale, the chief executive officer now directly owns 43,059 shares in the company, valued at $2,179,215.99. The disclosure for this sale can be found here. Insiders have sold 40,948 shares of company stock valued at $1,643,432 over the last quarter. Corporate insiders own 27.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $28,000. Retirement Group LLC bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $28,000. Capstone Triton Financial Group LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $30,000. Charter Oak Capital Management LLC bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $33,000. Finally, Perigon Wealth Management LLC acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth $86,000. Institutional investors and hedge funds own 93.54% 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; Trofinetide, a novel synthetic analog for the treatment of Rett syndrome; ACP-044, a novel first-in-class orally administered non-opioid analgesic for treating acute and chronic pain; and ACP-319, a positive allosteric modulator of the muscarinic receptor for treating cognition and schizophrenia.

See Also: Dividend Reinvestment Plan (DRIP)

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.