ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Research analysts at Svb Leerink boosted their FY2021 earnings per share (EPS) estimates for ACADIA Pharmaceuticals in a report issued on Thursday, December 5th. Svb Leerink analyst M. Goodman now anticipates that the biopharmaceutical company will post earnings per share of $0.65 for the year, up from their previous estimate of $0.40. Svb Leerink has a “Outperform” rating and a $50.00 price objective on the stock. Svb Leerink also issued estimates for ACADIA Pharmaceuticals’ FY2022 earnings at $3.50 EPS and FY2023 earnings at $6.10 EPS.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.11. ACADIA Pharmaceuticals had a negative net margin of 82.48% and a negative return on equity of 50.15%. The company had revenue of $94.59 million during the quarter, compared to the consensus estimate of $88.49 million. During the same period last year, the firm earned ($0.50) EPS. The firm’s revenue for the quarter was up 62.2% compared to the same quarter last year.
NASDAQ:ACAD opened at $47.93 on Monday. The firm has a market capitalization of $7.92 billion, a PE ratio of -24.71 and a beta of 2.81. The company has a quick ratio of 10.89, a current ratio of 10.96 and a debt-to-equity ratio of 0.01. ACADIA Pharmaceuticals has a 12-month low of $14.01 and a 12-month high of $53.70. The firm has a 50-day moving average price of $44.87 and a 200 day moving average price of $33.72.
In other news, Director Bros. Advisors Lp Baker bought 1,562,500 shares of the stock in a transaction dated Friday, September 20th. The stock was bought at an average cost of $40.00 per share, with a total value of $62,500,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric Alejandro Miller sold 4,645 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $41.18, for a total value of $191,281.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,635 shares of company stock worth $9,533,963. 29.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Alps Advisors Inc. bought a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth $8,039,000. Millennium Management LLC lifted its stake in ACADIA Pharmaceuticals by 98.8% in the third quarter. Millennium Management LLC now owns 1,020,864 shares of the biopharmaceutical company’s stock valued at $36,740,000 after buying an additional 507,354 shares during the period. Aperio Group LLC boosted its holdings in ACADIA Pharmaceuticals by 23.9% during the second quarter. Aperio Group LLC now owns 21,384 shares of the biopharmaceutical company’s stock worth $572,000 after buying an additional 4,127 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in ACADIA Pharmaceuticals during the second quarter worth about $42,000. Finally, Castleark Management LLC bought a new position in ACADIA Pharmaceuticals during the third quarter worth about $6,913,000. 94.49% of the stock is currently owned by institutional investors and hedge funds.
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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