ACADIA Pharmaceuticals (NASDAQ:ACAD) Announces Earnings Results

ACADIA Pharmaceuticals (NASDAQ:ACAD) released its quarterly earnings data on Wednesday. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06, Briefing.com reports. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The business had revenue of $250.40 million for the quarter, compared to the consensus estimate of $248.83 million. During the same period in the prior year, the firm earned ($0.40) EPS. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. ACADIA Pharmaceuticals updated its FY 2024 guidance to EPS.

ACADIA Pharmaceuticals Stock Up 2.7 %

Shares of ACAD opened at $17.66 on Friday. The company has a market cap of $2.93 billion, a P/E ratio of 98.11 and a beta of 0.38. ACADIA Pharmaceuticals has a fifty-two week low of $14.15 and a fifty-two week high of $32.59. The firm’s 50 day moving average price is $15.45 and its 200 day moving average price is $15.98.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the sale, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares in the company, valued at approximately $2,850,560.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark C. Schneyer sold 9,733 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $148,720.24. Following the completion of the sale, the chief financial officer now directly owns 43,735 shares of the company’s stock, valued at approximately $668,270.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,014 shares of company stock valued at $779,494. 28.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on ACAD. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday. Royal Bank of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Morgan Stanley lowered shares of 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. Six equities research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.56.

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.