ACADIA Pharmaceuticals (ACAD) to Release Quarterly Earnings on Tuesday

ACADIA Pharmaceuticals (NASDAQ:ACAD) is set to issue its quarterly earnings data after the market closes on Tuesday, August 6th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. ACADIA Pharmaceuticals has set its FY 2024 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The business had revenue of $205.83 million for the quarter, compared to analysts’ expectations of $208.31 million. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The firm’s revenue was up 73.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. 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 Stock Down 1.7 %

ACAD traded down $0.32 during trading on Tuesday, reaching $18.43. The stock had a trading volume of 400,369 shares, compared to its average volume of 1,755,232. ACADIA Pharmaceuticals has a one year low of $14.55 and a one year high of $32.59. The business has a 50-day moving average of $16.20 and a 200-day moving average of $19.42.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 3,477 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $58,900.38. Following the completion of the sale, the chief operating officer now directly owns 42,133 shares in the company, valued at $713,733.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Stephen Davis sold 11,427 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $193,573.38. Following the completion of the transaction, the chief executive officer now directly owns 155,231 shares in the company, valued at $2,629,613.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brendan Teehan sold 3,477 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $58,900.38. Following the transaction, the chief operating officer now owns 42,133 shares of the company’s stock, valued at $713,733.02. The disclosure for this sale can be found here. Insiders sold 20,708 shares of company stock worth $348,697 over the last three months. Company insiders own 28.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ACAD shares. Morgan Stanley reduced their price objective on ACADIA Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, May 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, June 25th. Citigroup reduced their price objective on ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Oppenheimer reaffirmed a “market perform” rating and set a $19.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, May 6th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.59.

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.