HC Wainwright Analysts Decrease Earnings Estimates for ACAD

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Equities research analysts at HC Wainwright cut their Q4 2024 EPS estimates for shares of ACADIA Pharmaceuticals in a report released on Thursday, November 7th. HC Wainwright analyst A. Fein now forecasts that the biopharmaceutical company will post earnings of $0.14 per share for the quarter, down from their previous estimate of $0.23. HC Wainwright currently has a “Buy” rating and a $27.00 target price on the stock. The consensus estimate for ACADIA Pharmaceuticals’ current full-year earnings is $0.51 per share. HC Wainwright also issued estimates for ACADIA Pharmaceuticals’ FY2028 earnings at $2.54 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.40) EPS.

Other analysts also recently issued research reports about the stock. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $28.00 to $20.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reduced 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 report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday. Finally, Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $17.20 on Friday. The company has a 50-day moving average of $15.43 and a two-hundred day moving average of $15.97. The firm has a market cap of $2.85 billion, a PE ratio of 95.56 and a beta of 0.38. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $32.59.

Insider Activity at ACADIA Pharmaceuticals

In other news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the sale, the chief operating officer now owns 52,177 shares in the company, valued at approximately $797,264.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Stephen Davis sold 31,747 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $485,094.16. Following the transaction, the chief executive officer now owns 186,555 shares of the company’s stock, valued at $2,850,560.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Brendan Teehan sold 9,534 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,014 shares of company stock valued at $779,494 in the last ninety days. Insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Arizona State Retirement System raised its position in ACADIA Pharmaceuticals by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after buying an additional 655 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of ACADIA Pharmaceuticals by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 778 shares during the period. Swiss National Bank raised its holdings in ACADIA Pharmaceuticals by 0.4% during the first quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock worth $3,894,000 after purchasing an additional 800 shares in the last quarter. Covestor Ltd lifted its position in 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 purchasing an additional 840 shares during the period. Finally, Quest Partners LLC boosted its holdings in ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

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.