$45.30 Million in Sales Expected for ACADIA Pharmaceuticals Inc. (ACAD) This Quarter
Equities research analysts expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to report $45.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for ACADIA Pharmaceuticals’ earnings. The highest sales estimate is $45.60 million and the lowest is $45.09 million. ACADIA Pharmaceuticals reported sales of $11.96 million in the same quarter last year, which would suggest a positive year over year growth rate of 278.8%. The firm is expected to report its next earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that ACADIA Pharmaceuticals will report full year sales of $45.30 million for the current fiscal year, with estimates ranging from $125.40 million to $126.90 million. For the next fiscal year, analysts anticipate that the company will report sales of $259.79 million per share, with estimates ranging from $240.93 million to $275.44 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow ACADIA Pharmaceuticals.
A number of equities analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, November 8th. ValuEngine lowered ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Zacks Investment Research lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. BidaskClub lowered ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Finally, Cowen reiterated a “buy” rating and issued a $46.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. ACADIA Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $48.86.
In other news, EVP Glenn Baity sold 36,558 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $32.39, for a total transaction of $1,184,113.62. Following the completion of the sale, the executive vice president now directly owns 83,734 shares in the company, valued at approximately $2,712,144.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Laura Brege sold 25,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $30.06, for a total value of $751,500.00. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $450,900. The disclosure for this sale can be found here. Insiders have sold a total of 135,879 shares of company stock valued at $4,175,649 over the last 90 days. Corporate insiders own 22.25% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,604,605 shares of the biopharmaceutical company’s stock valued at $212,093,000 after buying an additional 134,820 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 5.0% during the 4th quarter. BlackRock Inc. now owns 6,710,697 shares of the biopharmaceutical company’s stock valued at $202,060,000 after buying an additional 321,950 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of ACADIA Pharmaceuticals by 62.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,958,548 shares of the biopharmaceutical company’s stock valued at $224,459,000 after buying an additional 2,295,881 shares during the last quarter. State Street Corp lifted its holdings in shares of ACADIA Pharmaceuticals by 15.8% during the 2nd quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock valued at $104,551,000 after buying an additional 510,670 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of ACADIA Pharmaceuticals by 25.8% during the 4th quarter. First Trust Advisors LP now owns 1,523,112 shares of the biopharmaceutical company’s stock valued at $45,861,000 after buying an additional 312,671 shares during the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.
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ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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