ACADIA Pharmaceuticals (NASDAQ:ACAD) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

ACADIA Pharmaceuticals (NASDAQ:ACAD) posted its earnings results on Wednesday. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.08, Briefing.com reports. The business had revenue of $83.21 million during the quarter, compared to the consensus estimate of $72.50 million. ACADIA Pharmaceuticals had a negative return on equity of 79.74% and a negative net margin of 116.10%. The business’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) EPS. ACADIA Pharmaceuticals updated its FY 2019 guidance to EPS.

NASDAQ ACAD opened at $28.74 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.35 and a quick ratio of 6.29. The stock’s 50 day simple moving average is $25.82. ACADIA Pharmaceuticals has a 12-month low of $12.77 and a 12-month high of $29.32. The firm has a market cap of $3.60 billion, a PE ratio of -14.81 and a beta of 2.87.

Several research firms have commented on ACAD. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective (down from $40.00) on shares of ACADIA Pharmaceuticals in a research note on Tuesday, July 23rd. BidaskClub raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed a “buy” rating and set a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, April 25th. Raymond James upped their price objective on ACADIA Pharmaceuticals from $40.00 to $43.00 and gave the company a “strong-buy” rating in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. set a $32.00 price objective on ACADIA Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $32.08.

ACADIA Pharmaceuticals Company Profile

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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Earnings History for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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