ACADIA Pharmaceuticals (NASDAQ:ACAD) Releases Earnings Results, Beats Expectations By $0.02 EPS

ACADIA Pharmaceuticals (NASDAQ:ACAD) issued its earnings results on Tuesday. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02, Briefing.com reports. The business had revenue of $241.96 million for the quarter, compared to analysts’ expectations of $235.95 million. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The company’s quarterly revenue was up 46.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. ACADIA Pharmaceuticals updated its FY 2024 guidance to EPS.

ACADIA Pharmaceuticals Stock Down 0.2 %

Shares of ACAD traded down $0.03 during midday trading on Friday, reaching $15.69. 51,345 shares of the stock were exchanged, compared to its average volume of 1,801,687. ACADIA Pharmaceuticals has a 12-month low of $14.55 and a 12-month high of $32.59. The firm has a 50 day simple moving average of $16.63 and a 200-day simple moving average of $18.97. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -1,571.50 and a beta of 0.38.

Analyst Upgrades and Downgrades

ACAD has been the subject of a number of recent analyst reports. Oppenheimer reiterated a “market perform” rating and issued a $19.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, May 6th. UBS Group decreased their price target on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets initiated coverage on ACADIA Pharmaceuticals in a research report on Thursday, June 27th. They issued an “outperform” rating and a $31.00 price target for the company. Needham & Company LLC decreased their price target on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $25.56.

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.