ACADIA Pharmaceuticals (NASDAQ:ACAD) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

ACADIA Pharmaceuticals (NASDAQ:ACAD) issued its quarterly earnings results on Wednesday. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04, Zacks reports. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock traded down $0.06 during mid-day trading on Wednesday, hitting $18.96. 1,284,434 shares of the company traded hands, compared to its average volume of 2,791,392. The stock has a fifty day moving average price of $18.28 and a 200-day moving average price of $16.78. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $26.56. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 24.30 and a beta of 0.37.

Analyst Ratings Changes

Several research analysts recently weighed in on ACAD shares. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, Guggenheim downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

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.