ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Free Report) – 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 – Get Free Report) 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.
Check Out Our Latest Stock Report on ACAD
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.
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