ACADIA Pharmaceuticals (ACAD) to Release Earnings on Wednesday

ACADIA Pharmaceuticals (NASDAQ:ACAD) is set to issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.17 per share for the quarter. ACADIA Pharmaceuticals has set its FY 2024 guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The company had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company’s revenue was up 69.3% on a year-over-year basis. During the same period last year, the firm posted ($0.26) EPS. On average, analysts expect ACADIA Pharmaceuticals to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

ACADIA Pharmaceuticals Price Performance

ACAD opened at $17.05 on Monday. The business has a 50 day simple moving average of $19.15 and a two-hundred day simple moving average of $23.33. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -44.87 and a beta of 0.42. ACADIA Pharmaceuticals has a one year low of $16.16 and a one year high of $33.99.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Morgan Stanley lowered their price target on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 13th. JMP Securities reiterated a “market outperform” rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.75.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark C. Schneyer sold 3,503 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the sale, the chief financial officer now owns 32,053 shares in the company, valued at $542,977.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,116 shares of company stock worth $1,625,639. Insiders own 27.50% of the company’s stock.

About ACADIA Pharmaceuticals

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.