$46.52 Million in Sales Expected for Acadia Pharmaceuticals (ACAD) This Quarter

Analysts forecast that Acadia Pharmaceuticals (NASDAQ:ACAD) will announce sales of $46.52 million for the current quarter, Zacks reports. Two analysts have provided estimates for Acadia Pharmaceuticals’ earnings. The highest sales estimate is $47.05 million and the lowest is $45.98 million. Acadia Pharmaceuticals reported sales of $15.29 million during the same quarter last year, which would suggest a positive year over year growth rate of 204.3%. The firm is expected to report its next earnings results on Tuesday, May 8th.

On average, analysts expect that Acadia Pharmaceuticals will report full year sales of $46.52 million for the current fiscal year, with estimates ranging from $257.13 million to $262.77 million. For the next fiscal year, analysts anticipate that the firm will report sales of $383.10 million per share, with estimates ranging from $329.75 million to $436.45 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Acadia Pharmaceuticals.

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Acadia Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.03. The company had revenue of $43.56 million for the quarter, compared to the consensus estimate of $45.30 million. Acadia Pharmaceuticals had a negative return on equity of 73.02% and a negative net margin of 231.71%.

Several brokerages have recently issued reports on ACAD. ValuEngine downgraded Acadia Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, March 23rd. BidaskClub downgraded Acadia Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 2nd. Finally, Zacks Investment Research downgraded Acadia Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $49.50.

Shares of NASDAQ:ACAD traded down $5.03 on Monday, hitting $16.50. The company had a trading volume of 23,841,179 shares, compared to its average volume of 2,374,738. Acadia Pharmaceuticals has a 52-week low of $15.74 and a 52-week high of $41.20. The company has a market capitalization of $2,684.83, a P/E ratio of -6.99 and a beta of 3.43.

In related news, EVP Glenn Baity sold 36,558 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $32.39, for a total value of $1,184,113.62. Following the completion of the transaction, the executive vice president now directly owns 83,734 shares in the company, valued at $2,712,144.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel B. Soland bought 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was acquired at an average price of $23.91 per share, with a total value of $167,370.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $47,820. The disclosure for this purchase can be found here. Corporate insiders own 22.25% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Acadia Pharmaceuticals by 43.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,670 shares of the biopharmaceutical company’s stock worth $214,000 after acquiring an additional 1,710 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Acadia Pharmaceuticals by 56.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,509 shares of the biopharmaceutical company’s stock worth $247,000 after acquiring an additional 2,358 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Acadia Pharmaceuticals by 11.8% during the third quarter. BNP Paribas Arbitrage SA now owns 23,626 shares of the biopharmaceutical company’s stock worth $890,000 after acquiring an additional 2,489 shares during the last quarter. Sei Investments Co. increased its stake in Acadia Pharmaceuticals by 15.1% during the third quarter. Sei Investments Co. now owns 19,571 shares of the biopharmaceutical company’s stock worth $737,000 after acquiring an additional 2,565 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Acadia Pharmaceuticals by 1.9% during the third quarter. California Public Employees Retirement System now owns 153,200 shares of the biopharmaceutical company’s stock worth $5,771,000 after acquiring an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 96.24% of the company’s stock.

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About Acadia Pharmaceuticals

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.

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Earnings History and Estimates for Acadia Pharmaceuticals (NASDAQ:ACAD)

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