HC Wainwright Weighs in on ACADIA Pharmaceuticals Inc.’s Q3 2024 Earnings (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – HC Wainwright lowered their Q3 2024 earnings per share (EPS) estimates for ACADIA Pharmaceuticals in a research report issued on Wednesday, August 7th. HC Wainwright analyst A. Fein now expects that the biopharmaceutical company will post earnings per share of $0.22 for the quarter, down from their prior forecast of $0.24. 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 $0.58 per share. HC Wainwright also issued estimates for ACADIA Pharmaceuticals’ FY2025 earnings at $1.21 EPS and FY2026 earnings at $2.22 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The company had revenue of $241.96 million during the quarter, compared to analysts’ expectations of $235.95 million. During the same period last year, the firm posted $0.01 earnings per share. The business’s revenue was up 46.4% on a year-over-year basis.

Other analysts have also recently issued reports about the company. Oppenheimer reissued a “market perform” rating and set a $19.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, May 6th. UBS Group dropped their price target on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday. StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Bank of America lowered their price objective on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Finally, Citigroup dropped their price objective on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $25.56.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD traded down $0.08 during mid-day trading on Thursday, hitting $15.63. 3,837,068 shares of the stock were exchanged, compared to its average volume of 1,826,404. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -1,563.00 and a beta of 0.38. The firm’s 50-day simple moving average is $16.64 and its 200 day simple moving average is $18.89. ACADIA Pharmaceuticals has a fifty-two week low of $14.55 and a fifty-two week high of $32.59.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP increased its holdings in ACADIA Pharmaceuticals by 9.1% in the 4th quarter. First Trust Advisors LP now owns 1,777,307 shares of the biopharmaceutical company’s stock worth $55,647,000 after purchasing an additional 148,526 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in ACADIA Pharmaceuticals by 21.3% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,603,774 shares of the biopharmaceutical company’s stock worth $29,654,000 after purchasing an additional 281,410 shares in the last quarter. Norges Bank acquired a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $45,187,000. Charles Schwab Investment Management Inc. increased its holdings in ACADIA Pharmaceuticals by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,127,907 shares of the biopharmaceutical company’s stock worth $35,315,000 after purchasing an additional 54,814 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in ACADIA Pharmaceuticals by 8.7% in the 4th quarter. Frontier Capital Management Co. LLC now owns 823,586 shares of the biopharmaceutical company’s stock worth $25,786,000 after purchasing an additional 65,973 shares in the last quarter. Institutional investors and hedge funds own 96.71% 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.