ACADIA Pharmaceuticals (NASDAQ:ACAD) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

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

ACADIA Pharmaceuticals Trading Up 2.7 %

Shares of ACADIA Pharmaceuticals stock opened at $17.66 on Friday. ACADIA Pharmaceuticals has a 1 year low of $14.15 and a 1 year high of $32.59. The stock has a 50-day moving average price of $15.45 and a 200 day moving average price of $15.98. The company has a market cap of $2.93 billion, a P/E ratio of 98.11 and a beta of 0.38.

Insider Activity

In other news, COO Brendan Teehan sold 9,534 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 $145,679.52. Following the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at $797,264.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen Davis sold 31,747 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was 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 $2,850,560.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,014 shares of company stock worth $779,494 in the last 90 days. Company insiders own 28.30% of the company’s stock.

Analysts Set New Price Targets

ACAD has been the topic of several recent analyst reports. StockNews.com upgraded ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. Royal Bank of Canada decreased their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $28.00 to $20.00 in a research report on Wednesday, August 7th. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Finally, Citigroup cut their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.