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35500.0 | 2023-11-17 00:00:00 UTC | Are Medical Stocks Lagging ACADIA Pharmaceuticals (ACAD) This Year? | ACAD | https://www.nasdaq.com/articles/are-medical-stocks-lagging-acadia-pharmaceuticals-acad-this-year | nan | nan | The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Acadia Pharmaceuticals (ACAD) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Acadia Pharmaceuticals is a member of our Medical group, which includes 1087 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Acadia Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ACAD's full-year earnings has moved 17% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ACAD has moved about 38.6% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -8.9% on a year-to-date basis. This means that Acadia Pharmaceuticals is performing better than its sector in terms of year-to-date returns.
Another stock in the Medical sector, Medpace (MEDP), has outperformed the sector so far this year. The stock's year-to-date return is 32.5%.
The consensus estimate for Medpace's current year EPS has increased 5.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Acadia Pharmaceuticals belongs to the Medical - Biomedical and Genetics industry, a group that includes 528 individual companies and currently sits at #51 in the Zacks Industry Rank. This group has lost an average of 22.3% so far this year, so ACAD is performing better in this area.
On the other hand, Medpace belongs to the Medical Services industry. This 65-stock industry is currently ranked #82. The industry has moved -12.2% year to date.
Investors with an interest in Medical stocks should continue to track Acadia Pharmaceuticals and Medpace. These stocks will be looking to continue their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals (ACAD) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Acadia Pharmaceuticals is a member of our Medical group, which includes 1087 different companies and currently sits at #2 in the Zacks Sector Rank. Acadia Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy). | To break things down more, Acadia Pharmaceuticals belongs to the Medical - Biomedical and Genetics industry, a group that includes 528 individual companies and currently sits at #51 in the Zacks Industry Rank. Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals (ACAD) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? | Acadia Pharmaceuticals is a member of our Medical group, which includes 1087 different companies and currently sits at #2 in the Zacks Sector Rank. To break things down more, Acadia Pharmaceuticals belongs to the Medical - Biomedical and Genetics industry, a group that includes 528 individual companies and currently sits at #51 in the Zacks Industry Rank. Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. | Investors with an interest in Medical stocks should continue to track Acadia Pharmaceuticals and Medpace. Acadia Pharmaceuticals (ACAD) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Acadia Pharmaceuticals is a member of our Medical group, which includes 1087 different companies and currently sits at #2 in the Zacks Sector Rank. |
35501.0 | 2023-11-17 00:00:00 UTC | Dermata (DRMA) Up on FDA Nod to Begin Pivotal Study of Acne Drug | ACAD | https://www.nasdaq.com/articles/dermata-drma-up-on-fda-nod-to-begin-pivotal-study-of-acne-drug | nan | nan | Dermata Therapeutics, Inc. DRMA, a clinical-stage company, announced reaching an agreement with the FDA regarding the protocols of a phase III study of DMT310 in the treatment of acne. The agreement allows the company to begin a late-stage pivotal clinical program for DMT310 in treating acne.
DRMA is gearing up to begin enrolling patients in the first phase III STAR-1 study of the pivotal clinical program in December 2023. Shares of Dermata rose 6.9% on Thursday in response to the encouraging regulatory update.
The company’s novel, once-weekly and topical product candidate, DMT310, is derived from a freshwater sponge and being developed for the treatment of multiple skin diseases. DMT310 has several mechanisms of action that include mechanical and chemical compounds to help treat inflammatory skin diseases like acne.
Year to date, shares of Dermata have plunged 89.4% compared with the industry’s 22.5% decline.
Image Source: Zacks Investment Research
Per Dermata, the pivotal phase III clinical program for DMT310 will include two late-stage studies to evaluate the efficacy, safety and tolerability of DMT310 in patients with moderate-to-severe facial acne. The company plans to enroll about 550 acne patients aged nine years and older in the United States and Latin America in each phase III study.
The total patient populations in both studies will be randomly divided into two cohorts in the ratio of 2:1. The patients will be treated once weekly for 12 weeks with either DMT310 or placebo and evaluated monthly.
The primary endpoints of the DMT301 pivotal clinical program are the mean change from baseline in inflammatory and noninflammatory lesion counts and the Investigator Global Assessment (IGA) response rate. IGA is a metric in the assessment of treatment response.
Subject to positive results from the phase III STAR-1 study, the company plans to use the data to support a regulatory filing with the FDA for the approval of DMT301 in the acne indication.
Dermata also reported that DMT310 has previously shown positive treatment effects in moderate-to-severe acne in a phase IIb study. Once-weekly, topical administration of DMT310 achieved statistically significant results at all time points for all primary and secondary endpoints.
Furthermore, it was observed that almost 45% of patients achieved an IGA score of clear or almost clear upon treatment with DMT310 compared with less than 18% of placebo patients achieving the same at the end of 12 weeks.
Acne is a kind of skin condition, which, although not fatal, can take a serious toll on the quality of life of people suffering from it.
Dermata Therapeutics, Inc. Price and Consensus
Dermata Therapeutics, Inc. price-consensus-chart | Dermata Therapeutics, Inc. Quote
Zacks Rank and Stocks to Consider
Dermata currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks worth mentioning are Ligand Pharmaceuticals LGND, Acadia Pharmaceuticals ACAD and Anixa Biosciences ANIX. While LGND sports a Zacks Rank #1 (Strong Buy), ACAD and ANIX carry a Zacks Rank #2 (Buy) each at present.
You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 30 days, the Zacks Consensus Estimate for Ligand’s 2023 earnings per share has remained constant at $5.10. During the same time frame, the estimate for Ligand’s 2024 earnings per share has remained constant at $4.59. Year to date, shares of LGND have lost 14.5%.
LGND’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 67.19%.
In the past 30 days, the Zacks Consensus Estimate for Acadia’s 2023 loss per share has narrowed from 37 cents to 34 cents. The estimate for Acadia’s 2024 earnings per share is pegged at 90 cents. Year to date, shares of ACAD have gained 38.6%.
ACAD beat estimates in two of the trailing four quarters, missing the mark on the other two occasions, delivering an average earnings surprise of 20.69%.
In the past 30 days, the Zacks Consensus Estimate for Anixa Biosciences’ 2023 loss per share has remained constant at 32 cents. During the same time frame, the estimate for Anixa Biosciences’ 2024 loss per share has remained constant at 37 cents. Year to date, shares of ANIX have lost 32.2%.
ANIX beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 26.29%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
ANIXA BIOSCIENCES INC (ANIX) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks worth mentioning are Ligand Pharmaceuticals LGND, Acadia Pharmaceuticals ACAD and Anixa Biosciences ANIX. While LGND sports a Zacks Rank #1 (Strong Buy), ACAD and ANIX carry a Zacks Rank #2 (Buy) each at present. In the past 30 days, the Zacks Consensus Estimate for Acadia’s 2023 loss per share has narrowed from 37 cents to 34 cents. | Click to get this free report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report ANIXA BIOSCIENCES INC (ANIX) : Free Stock Analysis Report Dermata Therapeutics, Inc. (DRMA) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks worth mentioning are Ligand Pharmaceuticals LGND, Acadia Pharmaceuticals ACAD and Anixa Biosciences ANIX. While LGND sports a Zacks Rank #1 (Strong Buy), ACAD and ANIX carry a Zacks Rank #2 (Buy) each at present. | Click to get this free report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report ANIXA BIOSCIENCES INC (ANIX) : Free Stock Analysis Report Dermata Therapeutics, Inc. (DRMA) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks worth mentioning are Ligand Pharmaceuticals LGND, Acadia Pharmaceuticals ACAD and Anixa Biosciences ANIX. While LGND sports a Zacks Rank #1 (Strong Buy), ACAD and ANIX carry a Zacks Rank #2 (Buy) each at present. | Some better-ranked stocks worth mentioning are Ligand Pharmaceuticals LGND, Acadia Pharmaceuticals ACAD and Anixa Biosciences ANIX. While LGND sports a Zacks Rank #1 (Strong Buy), ACAD and ANIX carry a Zacks Rank #2 (Buy) each at present. In the past 30 days, the Zacks Consensus Estimate for Acadia’s 2023 loss per share has narrowed from 37 cents to 34 cents. |
35502.0 | 2023-11-17 00:00:00 UTC | Ardelyx (ARDX) Up on Xphozah's Orphan Tag for Hyperphosphatemia | ACAD | https://www.nasdaq.com/articles/ardelyx-ardx-up-on-xphozahs-orphan-tag-for-hyperphosphatemia | nan | nan | Ardelyx, Inc. ARDX announced that the FDA has granted orphan drug designation to Xphozah (tenapanor) for the treatment of pediatric hyperphosphatemia. Xphozah is Ardelyx’s twice-daily oral tablet with a novel mechanism of action that blocks phosphate absorption through its primary pathway.
Hyperphosphatemia is a serious condition resulting in an elevated level of phosphate in the blood, which affects most chronic kidney disease (CKD) patients on maintenance dialysis. Per ARDX, approximately 550,000 patients in the United States suffer from CKD.
The orphan drug designation will grant Ardelyx market exclusivity for Xphozah for a predefined time period in the above indication, along with the exemption of FDA application fees and tax credits for qualified clinical studies, all subject to approval. This designation is granted to support the development of medicines for rare disorders that affect fewer than 200,000 patients in the United States.
The company’s stock rose 4.1% on Thursday in response to the encouraging news. Year to date, shares of Ardelyx have shot up 41.4% against the industry’s 13.5% fall.
Image Source: Zacks Investment Research
Xphozah was approved in October 2023 as an add-on therapy for the treatment of adult patients with CKD who have an inadequate response to phosphate binders or are intolerant of any dose of phosphate binder therapy.
Ardelyx’s Xphozah is the first and only phosphate absorption inhibitor that is indicated to reduce serum phosphorus in adult CKD patients on dialysis.
Xphozah is Ardelyx's second FDA-approved drug. Ardelyx’s first commercial product, Ibsrela (tenapanor), received FDA approval in September 2019 for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults.
Ibsrela is a twice-daily 50 mg oral pill that inhibits the sodium-hydrogen exchanger in the gastrointestinal tract, resulting in an increase in bowel movements and a decrease in abdominal pain for IBS-C patients.
Ardelyx, Inc. Price and Consensus
Ardelyx, Inc. price-consensus-chart | Ardelyx, Inc. Quote
Zacks Rank and Stocks to Consider
Ardelyx currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks worth mentioning are Ligand Pharmaceuticals LGND, Acadia Pharmaceuticals ACAD and Anixa Biosciences ANIX. While LGND sports a Zacks Rank #1 (Strong Buy), ACAD and ANIX carry a Zacks Rank #2 (Buy) each at present.
You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 30 days, the Zacks Consensus Estimate for Ligand’s 2023 earnings per share has remained constant at $5.10. During the same time frame, the estimate for Ligand’s 2024 earnings per share has remained constant at $4.59. Year to date, shares of LGND have lost 14.5%.
LGND’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 67.19%.
In the past 30 days, the Zacks Consensus Estimate for Acadia’s 2023 loss per share has narrowed from 37 cents to 34 cents. The estimate for Acadia’s 2024 earnings per share is pegged at 90 cents. Year to date, shares of ACAD have gained 38.6%.
ACAD beat estimates in two of the trailing four quarters, missing the mark on the other two occasions, delivering an average earnings surprise of 20.69%.
In the past 30 days, the Zacks Consensus Estimate for Anixa Biosciences’ 2023 loss per share has remained constant at 32 cents. During the same time frame, the estimate for Anixa Biosciences’ 2024 loss per share has remained constant at 37 cents. Year to date, shares of ANIX have lost 32.2%.
ANIX beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 26.29%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
Ardelyx, Inc. (ARDX) : Free Stock Analysis Report
ANIXA BIOSCIENCES INC (ANIX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks worth mentioning are Ligand Pharmaceuticals LGND, Acadia Pharmaceuticals ACAD and Anixa Biosciences ANIX. While LGND sports a Zacks Rank #1 (Strong Buy), ACAD and ANIX carry a Zacks Rank #2 (Buy) each at present. In the past 30 days, the Zacks Consensus Estimate for Acadia’s 2023 loss per share has narrowed from 37 cents to 34 cents. | Some better-ranked stocks worth mentioning are Ligand Pharmaceuticals LGND, Acadia Pharmaceuticals ACAD and Anixa Biosciences ANIX. Click to get this free report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Ardelyx, Inc. (ARDX) : Free Stock Analysis Report ANIXA BIOSCIENCES INC (ANIX) : Free Stock Analysis Report To read this article on Zacks.com click here. While LGND sports a Zacks Rank #1 (Strong Buy), ACAD and ANIX carry a Zacks Rank #2 (Buy) each at present. | Click to get this free report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Ardelyx, Inc. (ARDX) : Free Stock Analysis Report ANIXA BIOSCIENCES INC (ANIX) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks worth mentioning are Ligand Pharmaceuticals LGND, Acadia Pharmaceuticals ACAD and Anixa Biosciences ANIX. While LGND sports a Zacks Rank #1 (Strong Buy), ACAD and ANIX carry a Zacks Rank #2 (Buy) each at present. | The estimate for Acadia’s 2024 earnings per share is pegged at 90 cents. Some better-ranked stocks worth mentioning are Ligand Pharmaceuticals LGND, Acadia Pharmaceuticals ACAD and Anixa Biosciences ANIX. While LGND sports a Zacks Rank #1 (Strong Buy), ACAD and ANIX carry a Zacks Rank #2 (Buy) each at present. |
35503.0 | 2023-11-16 00:00:00 UTC | Implied Volatility Surging for On ACADIA Pharmaceuticals (ACAD) Stock Options | ACAD | https://www.nasdaq.com/articles/implied-volatility-surging-for-on-acadia-pharmaceuticals-acad-stock-options | nan | nan | Investors in ACADIA Pharmaceuticals Inc. ACAD need to pay close attention to the stock based on moves in the options market lately. That is because the Jan 19, 2024 $8.00 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for ACADIA Pharmaceuticals shares, but what is the fundamental picture for the company? Currently, ACADIA Pharmaceuticals is a Zacks Rank #2 (Buy) in the Medical - Biomedical and Genetics industry that ranks in the Top 23% of our Zacks Industry Rank. Over the last 60 days, five analyst have increased their earnings estimates for the current quarter, while one has revised the estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 28 cents per share to 32 cents in that period.
Given the way analysts feel ACADIA Pharmaceuticals right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
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ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors in ACADIA Pharmaceuticals Inc. ACAD need to pay close attention to the stock based on moves in the options market lately. Clearly, options traders are pricing in a big move for ACADIA Pharmaceuticals shares, but what is the fundamental picture for the company? Currently, ACADIA Pharmaceuticals is a Zacks Rank #2 (Buy) in the Medical - Biomedical and Genetics industry that ranks in the Top 23% of our Zacks Industry Rank. | Clearly, options traders are pricing in a big move for ACADIA Pharmaceuticals shares, but what is the fundamental picture for the company? Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Investors in ACADIA Pharmaceuticals Inc. ACAD need to pay close attention to the stock based on moves in the options market lately. | Investors in ACADIA Pharmaceuticals Inc. ACAD need to pay close attention to the stock based on moves in the options market lately. Clearly, options traders are pricing in a big move for ACADIA Pharmaceuticals shares, but what is the fundamental picture for the company? Currently, ACADIA Pharmaceuticals is a Zacks Rank #2 (Buy) in the Medical - Biomedical and Genetics industry that ranks in the Top 23% of our Zacks Industry Rank. | Investors in ACADIA Pharmaceuticals Inc. ACAD need to pay close attention to the stock based on moves in the options market lately. Given the way analysts feel ACADIA Pharmaceuticals right now, this huge implied volatility could mean there’s a trade developing. Clearly, options traders are pricing in a big move for ACADIA Pharmaceuticals shares, but what is the fundamental picture for the company? |
35504.0 | 2023-11-14 00:00:00 UTC | ACAD Makes Bullish Cross Above Critical Moving Average | ACAD | https://www.nasdaq.com/articles/acad-makes-bullish-cross-above-critical-moving-average | nan | nan | In trading on Tuesday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed above their 200 day moving average of $23.24, changing hands as high as $23.26 per share. Acadia Pharmaceuticals Inc shares are currently trading up about 3.2% on the day. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average:
Looking at the chart above, ACAD's low point in its 52 week range is $14.45 per share, with $33.99 as the 52 week high point — that compares with a last trade of $23.14.
Click here to find out which 9 other stocks recently crossed above their 200 day moving average »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed above their 200 day moving average of $23.24, changing hands as high as $23.26 per share. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $14.45 per share, with $33.99 as the 52 week high point — that compares with a last trade of $23.14. Acadia Pharmaceuticals Inc shares are currently trading up about 3.2% on the day. | In trading on Tuesday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed above their 200 day moving average of $23.24, changing hands as high as $23.26 per share. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $14.45 per share, with $33.99 as the 52 week high point — that compares with a last trade of $23.14. Acadia Pharmaceuticals Inc shares are currently trading up about 3.2% on the day. | In trading on Tuesday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed above their 200 day moving average of $23.24, changing hands as high as $23.26 per share. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $14.45 per share, with $33.99 as the 52 week high point — that compares with a last trade of $23.14. Acadia Pharmaceuticals Inc shares are currently trading up about 3.2% on the day. | In trading on Tuesday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed above their 200 day moving average of $23.24, changing hands as high as $23.26 per share. Acadia Pharmaceuticals Inc shares are currently trading up about 3.2% on the day. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $14.45 per share, with $33.99 as the 52 week high point — that compares with a last trade of $23.14. |
35505.0 | 2023-11-09 00:00:00 UTC | Guru Fundamental Report for ACAD | ACAD | https://www.nasdaq.com/articles/guru-fundamental-report-for-acad-0 | nan | nan | Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ACADIA PHARMACEUTICALS INC (ACAD) is a mid-cap stock in the Biotechnology & Drugs industry. The rating using this strategy is 66% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: FAIL
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: FAIL
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: PASS
Detailed Analysis of ACADIA PHARMACEUTICALS INC
ACAD Guru Analysis
ACAD Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ACADIA PHARMACEUTICALS INC (ACAD) is a mid-cap stock in the Biotechnology & Drugs industry. | Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ACADIA PHARMACEUTICALS INC ACAD Guru Analysis ACAD Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. | Of the 22 guru strategies we follow, ACAD rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ACADIA PHARMACEUTICALS INC ACAD Guru Analysis ACAD Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). | Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ACADIA PHARMACEUTICALS INC ACAD Guru Analysis ACAD Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
35506.0 | 2023-11-08 00:00:00 UTC | Esperion (ESPR) Q3 Earnings Beat, Stock Up on Strong Revenues | ACAD | https://www.nasdaq.com/articles/esperion-espr-q3-earnings-beat-stock-up-on-strong-revenues | nan | nan | Esperion Therapeutics, Inc. ESPR incurred a loss of 37 cents per share in the third quarter of 2023, narrower than the Zacks Consensus Estimate of a loss of 42 cents. The company incurred a loss of 81 cents per share in the year-ago quarter.
Esperion generated revenues of $34.0 million, up 79% year over year. The reported figure beat the Zacks Consensus Estimate of $30.8 million.
Quarter in Detail
Esperion has two FDA-approved drugs — Nexletol and Nexlizet — in its commercial portfolio that are approved for treating elevated LDL-C (bad cholesterol). These two oral drugs are marketed as Nilemdo and Nustendi in Europe and several other ex-U.S. markets in partnership with Daiichi Sankyo. The company records royalties on sales of its drugs in Europe and other ex-U.S. markets.
In Japan, Esperion has an agreement for the development and commercialization of Nexletol and Nexlizet tablets with Otsuka Pharmaceuticals.
Product revenues, solely from the United States, totaled $20.3 million in the third quarter, up 45% year over year. The upside was driven by continued prescription growth. During the quarter, the drugs’ retail prescription grew 33% year over year and 8% quarter over quarter.
The reported product revenues missed the Zacks Consensus Estimate and our model estimate of $23.5 million and $22.5 million, respectively.
Esperion recorded collaboration revenues, which include combined royalty and partner revenues, of $13.7 million during the reported quarter, up 174% year over year. The upside can be attributed to increased royalty revenue and tablet shipments to international partners.
Collaboration revenues missed the Zacks Consensus Estimate and our model estimate of $6.6 million and $7.1 million, respectively.
Shares of the company rallied 7.7% on Tuesday in response to the better-than-expected collaboration revenue performance. Yet, the stock has plunged 83.5% year to date compared with the industry’s 15.1% fall.
Research and development (R&D) expenses declined 49% from the year-ago period’s level to $14.9 million, primarily related to the close-out of the company’s CLEAR Outcomes study.
Selling, general and administrative (SG&A) expenses were up 33% year over year to $33.2 million, thanks to higher legal and promotional costs.
As of Sep 30, 2023, Esperion had cash, cash equivalents, restricted cash and investment securities of $114.8 million compared with $138.5 million as of Jun 30, 2023.
2023 Guidance
Esperion reiterated its financial outlook for 2023. The company still expects operating expenses in the range of $225-$245 million, including $25 million in non-cash expenses related to stock compensation. Guidance for total operating expenses includes $100-$110 million in R&D expenses and $125-$135 million in SG&A expenses.
Recent Updates
In June, Esperion submitted supplemental new drug applications to the FDA for the label expansion of Nexletol ((bempedoic acid) and Nexlizet ((bempedoic acid and ezetimibe). The company also submitted a type II(a) variation application for expanded use of Nilemdo and Nustendi to the European Medicines Agency.
These applications aim to seek approval for expanded use of bempedoic acid for reducing cardiovascular risk in patients with or at high risk for atherosclerotic cardiovascular disease. Management expects to get the label expansion approval in the United States before the end of first-quarter 2024 and in Europe by first-half 2024.
Zacks Rank & Stocks to Consider
Esperion currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Allogene Therapeutics ALLO and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 35 cents. During the same period, the earnings estimates per share for 2024 have risen from 60 cents to 79 cents. Shares of ACAD are up 47.6% in the year-to-date period.
Earnings of Acadia beat estimates in two of the last four quarters while missing the mark on the other two occasions, witnessing an average earnings surprise of 20.33%. In the last reported quarter, Acadia’s earnings beat estimates by 108.33%.
Allogene’s loss estimate has narrowed from $2.25 to $2.19 per share in the past 30 days. During the same period, the loss estimates per share for 2024 have narrowed from $2.21 to $2.13. Shares of ALLO have plunged 47.9% in the year-to-date period.
The earnings of Allogene beat estimates in three of the last four quarters while missing the mark on one occasion, witnessing an average earnings surprise of 3.93%. Allogene’s earnings beat estimates by 10.17%.
Apellis Pharmaceuticals’ loss estimates for 2024 have narrowed from $2.41 to $1.94 per share in the past 30 days. Year to date, Apellis Pharmaceuticals’ shares have lost 8.5%.
Apellis Pharmaceuticals beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions, witnessing a negative earnings surprise of 3.91% on average. In the last reported quarter, APLS reported a negative earnings surprise of 39.29%.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Allogene Therapeutics ALLO and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 35 cents. Shares of ACAD are up 47.6% in the year-to-date period. | Some better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Allogene Therapeutics ALLO and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Esperion Therapeutics, Inc. (ESPR) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report Allogene Therapeutics, Inc. (ALLO) : Free Stock Analysis Report To read this article on Zacks.com click here. In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 35 cents. | Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Esperion Therapeutics, Inc. (ESPR) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report Allogene Therapeutics, Inc. (ALLO) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Allogene Therapeutics ALLO and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 35 cents. | Some better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Allogene Therapeutics ALLO and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 35 cents. Shares of ACAD are up 47.6% in the year-to-date period. |
35507.0 | 2023-11-08 00:00:00 UTC | Sage Therapeutics (SAGE) Q3 Earnings Lag Estimates, Down 5% | ACAD | https://www.nasdaq.com/articles/sage-therapeutics-sage-q3-earnings-lag-estimates-down-5 | nan | nan | Sage Therapeutics SAGE reported a loss of $3.37 per share for the third quarter of 2023, wider than the year-ago quarter’s loss of $2.31.
The reported loss included restructuring expenses of $33.6 million related to a reorganization plan implemented in August 2023. The adjusted loss per share in the quarter stood at $2.81 per share, missing the Zacks Consensus Estimate of a loss of $2.64.
Revenues in the quarter were $2.7 million, up 56% year over year. Sales missed the Zacks Consensus Estimate of $8.7 million.
Quarter in Detail
In the reported quarter, revenues were generated entirely from product revenues of the company’s first marketed drug, Zulresso (brexanolone), approved by the FDA in 2019 as the first-ever FDA-approved treatment for adults with postpartum depression (“PPD”).
Though the company received FDA approval for zuranolone, the first and only oral treatment for adults with PPD, it is yet to be commercially launched. The drug, which Sage has developed in collaboration with Biogen BIIB, is expected to be launched next month under the trade name Zurzuvae. It intends to price the drug at $15,900 for an entire 14-day treatment course.
Research & development (R&D) expenses were $101.9 million, up 25% from the year-ago quarter’s levels. The upside was primarily due to expenses related to canceling excess purchase commitments for manufacturing as a result of the complete response letter received from the FDA for zuranolone for the treatment of major depressive disorder (“MDD”).
Selling, general and administrative expenses (SG&A) rose 27% from the prior-year quarter’s figure to $78.1 million. This increase can be attributed to increased stock-based compensation expenses during the quarter.
Shares of Sage were down 4.8% on Nov 7, likely due to the dismal earnings results and higher-than-expected operating expenses during the quarter. Year to date, the stock has declined 48.5% compared with the industry’s 15.1% fall.
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The company had $0.9 billion in cash, cash equivalents and marketable securities as of Sep 30, 2023, compared with $1.0 billion on Jun 30, 2023. This cash balance, combined with expected funding from collaboration revenues, is expected to support the company’s operations into 2026.
Pipeline Updates
Currently, Sage is focused on developing its lead neuropsychiatric and neurology programs, SAGE-718 and SAGE-324, respectively. As part of the reorganization plan (implemented in August 2023), it has paused all early-stage pipeline programs with the intention of making evidence-driven investments.
The lead neuropsychiatric drug, SAGE-718, is being evaluated as a potential treatment for patients with cognition dysfunction associated with Huntington’s disease (“HD”) across three ongoing clinical studies — two phase II studies (DIMENSION and SURVEYOR) and a phase III study (PURVIEW). The candidate is also being evaluated in separate mid-stage studies for treating cognitive issues associated with Parkinson’s disease (“PD”) and Alzheimer’s disease (“AD”). Data readouts from these studies are expected next year.
Management is evaluating SAGE-324 in the mid-stage KINETIC 2 study as a potential treatment for patients with essential tremors. The top-line data from the KINETIC 2 study is expected in mid-2024.
Zurzuvae and SAGE-324 are being developed by Sage in partnership with Biogen, per a deal signed in 2020. Per the terms of the agreement, Sage and Biogen will jointly commercialize drugs in the United States. At the same time, Biogen has the sole rights to market in ex-U.S. territories (except for Zurzuvae in Japan, Taiwan and South Korea, where Shionogi holds the rights).
Sage Therapeutics, Inc. Price
Sage Therapeutics, Inc. price | Sage Therapeutics, Inc. Quote
Zacks Rank & Stocks to Consider
Sage currently has a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 35 cents. During the same period, the earnings estimates per share for 2024 have risen from 60 cents to 79 cents. Shares of ACAD are up 47.6% in the year-to-date period.
Earnings of Acadia beat estimates in two of the last four quarters while missing the mark on the other two occasions, witnessing an average earnings surprise of 20.33%. In the last reported quarter, Acadia’s earnings beat estimates by 108.33%.
Apellis Pharmaceuticals’ loss estimates for 2024 have narrowed from $2.41 to $1.94 per share in the past 30 days. Year to date, Apellis Pharmaceuticals’ stock has lost 8.5%.
Apellis Pharmaceuticals beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions, witnessing a negative earnings surprise of 3.91% on average. In the last reported quarter, APLS reported a negative earnings surprise of 39.29%.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
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Sage Therapeutics, Inc. (SAGE) : Free Stock Analysis Report
Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A couple of better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 35 cents. Shares of ACAD are up 47.6% in the year-to-date period. | A couple of better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). Click to get this free report Biogen Inc. (BIIB) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Sage Therapeutics, Inc. (SAGE) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report To read this article on Zacks.com click here. In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 35 cents. | Click to get this free report Biogen Inc. (BIIB) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Sage Therapeutics, Inc. (SAGE) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 35 cents. | A couple of better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 35 cents. Shares of ACAD are up 47.6% in the year-to-date period. |
35508.0 | 2023-11-08 00:00:00 UTC | Iovance's (IOVA) Meets Q3 Earnings, Lags Sales Estimates | ACAD | https://www.nasdaq.com/articles/iovances-iova-meets-q3-earnings-lags-sales-estimates | nan | nan | Iovance Biotherapeutics, Inc. IOVA incurred a loss of 46 cents per share in third-quarter 2023, in line with the Zacks Consensus Estimate. In the year-ago quarter, the company reported a loss of 63 cents.
During the quarter, the company generated total revenues of $0.5 million — entirely from product sales of its recently-acquired interleukin-2 (IL-2) product Proleukin (aldesleukin). The reported sales missed the Zacks Consensus Estimate of $3.8 million. In the year-ago quarter, Iovance did not record any revenues.
Quarter in Detail
Following the completion of worldwide rights to Proleukin from U.K.-based Clinigen Limited in May 2023, Iovance is now a commercial-stage company. Proleukin is approved by the FDA for treating two cancer indications in adults — metastatic renal cell carcinoma (mRCC) and metastatic melanoma.
The reported Proleukin sales of $0.5 million also missed our model estimates of $4 million.
Shares of Iovance were down 1.4% in after-market trading on Nov 7 | Iovance Biotherapeutics, Inc. IOVA incurred a loss of 46 cents per share in third-quarter 2023, in line with the Zacks Consensus Estimate. The reported sales missed the Zacks Consensus Estimate of $3.8 million. Quarter in Detail Following the completion of worldwide rights to Proleukin from U.K.-based Clinigen Limited in May 2023, Iovance is now a commercial-stage company. | In the year-ago quarter, the company reported a loss of 63 cents. The reported sales missed the Zacks Consensus Estimate of $3.8 million. The reported Proleukin sales of $0.5 million also missed our model estimates of $4 million. | Iovance Biotherapeutics, Inc. IOVA incurred a loss of 46 cents per share in third-quarter 2023, in line with the Zacks Consensus Estimate. During the quarter, the company generated total revenues of $0.5 million — entirely from product sales of its recently-acquired interleukin-2 (IL-2) product Proleukin (aldesleukin). The reported Proleukin sales of $0.5 million also missed our model estimates of $4 million. | Iovance Biotherapeutics, Inc. IOVA incurred a loss of 46 cents per share in third-quarter 2023, in line with the Zacks Consensus Estimate. In the year-ago quarter, the company reported a loss of 63 cents. The reported sales missed the Zacks Consensus Estimate of $3.8 million. |
35509.0 | 2023-11-07 00:00:00 UTC | Perrigo (PRGO) Lags on Q3 Earnings & Sales, Lowers '23 View | ACAD | https://www.nasdaq.com/articles/perrigo-prgo-lags-on-q3-earnings-sales-lowers-23-view | nan | nan | Perrigo Company plc PRGO reported adjusted earnings of 64 cents per share in third-quarter 2023, missing the Zacks Consensus Estimate of 65 cents. Earnings were up 14.3% year over year. The upside can be attributed to lower operating expenses incurred by the company during the quarter.
Net sales increased 2.2% year over year to $1.12 billion, missing the Zacks Consensus Estimate of $1.19 billion. The upside was driven by the acquisition of the U.S. & Canadian Good Start infant formula brand and favorable currency movement.
During the quarter, sales rose 2.1% on account of favorable currency movement. At constant currency (excluding foreign currency translation), sales rose 0.1%. Organic net sales (excluding the effects of acquisitions and divestitures and the impact of currency) were down 1.2% year over year.
Segment Discussion
Perrigo reports its results under the following segments — Consumer Self Care Americas (“CSCA”) and Consumer Self Care International (“CSCI”). Per management, the company gained market share in both business segments during the quarter compared with the year-ago period’s levels.
CSCA: The segment’s net sales in the third quarter of 2023 came in at $703.5 million, down 2.6% year over year. The downside was caused by purposeful SKU prioritization actions to enhance margins as part of the company's Supply Chain Reinvention Program undertaken last year and lower net sales of legacy Nutrition products in the United States. Strategic pricing actions and new product sales partially offset the downside.
CSCI: The segment reported net sales of $420.3 million, up 11.2% from the year-ago period’s levels. Segment revenues benefited from strategic pricing actions, new product sales and favorable currency movement. At constant-currency (cc) rates, sales were up 5.2% year over year. Organically, sales increased 6.2%.
2023 Guidance
Perrigo lowered its financial guidance for 2023. Management now expects to report net sales growth in the range of 4-6%, down from the previously issued guidance of 7-11%.
Adjusted earnings per share are now expected to be between $2.50 and $2.60 (previously $2.50 to $2.70). The Zacks Consensus Estimate for earnings stood at $2.60 per share.
Shares of Perrigo were down 5.2% in pre-market trading on Nov 7, likely due to the curtailed guidance. In the year so far, the stock has lost 15.7% compared with the industry’s 10.9% decline.
Image Source: Zacks Investment Research
The adjusted tax rate is expected to be around 14% (previously 17%). Perrigo expects to record interest expenses of about $180 million (maintained).
Perrigo Company plc Price
Perrigo Company plc price | Perrigo Company plc Quote
Zacks Rank & Stocks to Consider
Perrigo currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Alkermes ALKS and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 37 cents. During the same period, the earnings estimates per share for 2024 have risen from 60 cents to 68 cents. Shares of ACAD are up 51.2% in the year-to-date period.
Earnings of Acadia beat estimates in two of the last four quarters while missing the mark on the other two occasions, witnessing an average earnings surprise of 20.33%. In the last reported quarter, Acadia’s earnings beat estimates by 108.33%.
In the past 30 days, the estimate for Alkermes’ 2023 and 2024 EPS have increased from $1.61 to $1.63 and $1.93 to $2.14, respectively. Shares of ALKS are down 5.1% in the year-to-date period.
Earnings of Alkermes beat estimates in each of the last four quarters, witnessing an average earnings surprise of 93.34%. Alkermes’ earnings beat estimates by 45.45%.
Apellis Pharmaceuticals’ loss estimates for 2023 have narrowed from $4.89 to $4.60 per share in the past 30 days. During the same period, the loss estimates per share for 2024 have narrowed from $2.77 to $1.94. Year to date, Apellis Pharmaceuticals’ stock has lost 9.4%.
Apellis Pharmaceuticals beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions, witnessing a negative earnings surprise of 3.91% on average. In the last reported quarter, APLS reported a negative earnings surprise of 39.29%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Alkermes ALKS and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 37 cents. Shares of ACAD are up 51.2% in the year-to-date period. | Click to get this free report Alkermes plc (ALKS) : Free Stock Analysis Report Perrigo Company plc (PRGO) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Alkermes ALKS and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 37 cents. | Click to get this free report Alkermes plc (ALKS) : Free Stock Analysis Report Perrigo Company plc (PRGO) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Alkermes ALKS and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 37 cents. | Some better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Alkermes ALKS and Apellis Pharmaceuticals APLS, carrying a Zacks Rank #2 (Buy). In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 37 cents. Shares of ACAD are up 51.2% in the year-to-date period. |
35510.0 | 2023-11-07 00:00:00 UTC | CRISPR Therapeutics (CRSP) Q3 Loss Narrower Than Expected | ACAD | https://www.nasdaq.com/articles/crispr-therapeutics-crsp-q3-loss-narrower-than-expected | nan | nan | CRISPR Therapeutics CRSP reported a net loss per share of $1.41 in the third quarter of 2023, narrower than the Zacks Consensus Estimate of a loss of $1.98. In the year-ago period, the company had posted a loss of $2.24 per share.
In the absence of any marketed product, CRISPR Therapeutics did not record any revenues during the quarter. The Zacks Consensus Estimate for total revenues stood at $20.7 million. In the year-ago quarter, revenues were less than $0.1 million.
Quarter in Detail
In the reported quarter, research and development expenses fell 22% year over year to $90.7 million, owing to reduced variable external research and manufacturing costs.
Also, general and administrative expenses declined 32% to $18.3 million due to a fall in external professional costs.
Collaboration expenses in the quarter reached $23.4 million, down 40% year over year. The downside can be attributed to the fact that CRSP reached the $110.3 million deferral limit on costs related to the exa-cel program (being developed in collaboration with Vertex Pharmaceuticals [VRTX]) in third-quarter 2023. Last year, this limit was not reached until fourth-quarter 2022.
Shares of CRISPR Therapeutics have gained 25.4% year to date against the industry’s fall of 21.1%.
Image Source: Zacks Investment Research
As of Sep 30, 2023, CRISPR Therapeutics had cash, cash equivalents, marketable securities and accounts receivables of $1.74 billion compared with $1.84 billion as of Jun 30, 2023.
Pipeline Updates
CRISPR Therapeutics developed exa-cel — an investigational ex-vivo CRISPR gene-edited therapy for treating sickle cell disease (“SCD”) and transfusion-dependent beta-thalassemia (“TDT”) — in partnership with Vertex Pharmaceuticals.
In June, CRISPR Therapeutics and Vertex announced that the FDA accepted their biologics license application (BLA) submissions seeking approval for exa-cel in SCD and TDT indications and a final decision is expected by Dec 8, 2023, and Mar 30, 2024, respectively. The companies have filed similar regulatory submissions for exa-cel in Europe, which were validated in January.
Last month, an FDA advisory committee appeared satisfied with CRISPR/Vertex’s regulatory filing on exa-cel in SCD indication. This likely moves the gene therapy closer to gaining potential marketing approval from the agency.
Apart from exa-cel, CRISPR Therapeutics is developing two CAR-T cell therapy candidates — CTX110 and CTX130 — for hematological and solid-tumor cancers. The company has been enrolling patients in the phase II study evaluating CTX110 in relapsed/refractory B-cell malignancies. CRSP is enrolling patients in the ongoing phase I COBALT-LYM study evaluating CTX130 targeting CD70 to treat relapsed or refractory T-cell malignancies.
CRSP is advancing two next-generation CAR-T product candidates, CTX112 (targeting CD19-positive B-cell malignancies) and CTX131 (targeting relapsed or refractory solid tumors), in separate phase I/II studies. These candidates have been designed to enhance CAR-T potency.
Recently, management started a phase I study evaluating its lead in-vivo program, CTX310, designed to target ANGPTL3, which is responsible for the development of atherosclerotic cardiovascular disease (ASCVD). It also plans to move another in vivo program, CTX320, targeting lipoprotein(a) [Lp(a)], into clinical development in first-half 2024.
CRISPR Therapeutics AG Price
CRISPR Therapeutics AG price | CRISPR Therapeutics AG Quote
Zacks Rank & Other Stocks to Consider
CRISPR Therapeutics currently carries a Zacks Rank #2 (Buy). Some other better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD and Alkermes ALKS, also carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 37 cents. During the same period, the earnings estimates per share for 2024 have risen from 60 cents to 68 cents. Shares of ACAD are up 51.2% in the year-to-date period.
Earnings of Acadia beat estimates in two of the last four quarters while missing the mark on the other two occasions, witnessing an average earnings surprise of 20.33%. In the last reported quarter, Acadia’s earnings beat estimates by 108.33%.
In the past 30 days, the estimate for Alkermes’ 2023 and 2024 EPS have increased from $1.61 to $1.63 and $1.93 to $2.14, respectively. Shares of ALKS are down 5.1% in the year-to-date period.
Earnings of Alkermes beat estimates in each of the last four quarters, witnessing an average earnings surprise of 93.34%. Alkermes’ earnings beat estimates by 45.45%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD and Alkermes ALKS, also carrying a Zacks Rank #2. In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 37 cents. Shares of ACAD are up 51.2% in the year-to-date period. | Click to get this free report Alkermes plc (ALKS) : Free Stock Analysis Report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report CRISPR Therapeutics AG (CRSP) : Free Stock Analysis Report To read this article on Zacks.com click here. Some other better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD and Alkermes ALKS, also carrying a Zacks Rank #2. In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 37 cents. | Click to get this free report Alkermes plc (ALKS) : Free Stock Analysis Report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report CRISPR Therapeutics AG (CRSP) : Free Stock Analysis Report To read this article on Zacks.com click here. Some other better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD and Alkermes ALKS, also carrying a Zacks Rank #2. In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 37 cents. | Some other better-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD and Alkermes ALKS, also carrying a Zacks Rank #2. In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 37 cents. Shares of ACAD are up 51.2% in the year-to-date period. |
35511.0 | 2023-11-06 00:00:00 UTC | Mizuho Upgrades Acadia Pharmaceuticals (ACAD) | ACAD | https://www.nasdaq.com/articles/mizuho-upgrades-acadia-pharmaceuticals-acad | nan | nan | Fintel reports that on November 6, 2023, Mizuho upgraded their outlook for Acadia Pharmaceuticals (NASDAQ:ACAD) from Neutral to Buy .
Analyst Price Forecast Suggests 32.98% Upside
As of November 1, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.88. The forecasts range from a low of 13.13 to a high of $44.10. The average price target represents an increase of 32.98% from its latest reported closing price of 23.97.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acadia Pharmaceuticals is 597MM, a decrease of 5.51%. The projected annual non-GAAP EPS is -0.80.
For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 524 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 31 owner(s) or 6.29% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.23%, an increase of 13.25%. Total shares owned by institutions increased in the last three months by 1.49% to 166,184K shares.
The put/call ratio of ACAD is 0.88, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 42,865K shares representing 26.11% ownership of the company. In it's prior filing, the firm reported owning 41,938K shares, representing an increase of 2.16%. The firm increased its portfolio allocation in ACAD by 38.35% over the last quarter.
Rtw Investments holds 9,783K shares representing 5.96% ownership of the company. In it's prior filing, the firm reported owning 8,243K shares, representing an increase of 15.75%. The firm increased its portfolio allocation in ACAD by 38.08% over the last quarter.
Price T Rowe Associates holds 6,014K shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 4,551K shares, representing an increase of 24.33%. The firm increased its portfolio allocation in ACAD by 253.17% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.65% ownership of the company. No change in the last quarter.
D. E. Shaw holds 5,263K shares representing 3.21% ownership of the company. In it's prior filing, the firm reported owning 4,901K shares, representing an increase of 6.89%. The firm increased its portfolio allocation in ACAD by 65.62% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on November 6, 2023, Mizuho upgraded their outlook for Acadia Pharmaceuticals (NASDAQ:ACAD) from Neutral to Buy . For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. Analyst Price Forecast Suggests 32.98% Upside As of November 1, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.88. | Fintel reports that on November 6, 2023, Mizuho upgraded their outlook for Acadia Pharmaceuticals (NASDAQ:ACAD) from Neutral to Buy . Analyst Price Forecast Suggests 32.98% Upside As of November 1, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.88. The projected annual revenue for Acadia Pharmaceuticals is 597MM, a decrease of 5.51%. | Fintel reports that on November 6, 2023, Mizuho upgraded their outlook for Acadia Pharmaceuticals (NASDAQ:ACAD) from Neutral to Buy . Analyst Price Forecast Suggests 32.98% Upside As of November 1, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.88. The projected annual revenue for Acadia Pharmaceuticals is 597MM, a decrease of 5.51%. | Analyst Price Forecast Suggests 32.98% Upside As of November 1, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.88. The projected annual revenue for Acadia Pharmaceuticals is 597MM, a decrease of 5.51%. There are 524 funds or institutions reporting positions in Acadia Pharmaceuticals. |
35512.0 | 2023-11-03 00:00:00 UTC | Agios (AGIO) Reports Narrower-Than-Expected Q3 Loss, Lags Sales | ACAD | https://www.nasdaq.com/articles/agios-agio-reports-narrower-than-expected-q3-loss-lags-sales | nan | nan | Agios Pharmaceuticals, Inc. AGIO reported a loss per share of $1.64 in third-quarter 2023, narrower than the Zacks Consensus Estimate of a loss of $1.69. In the year-ago quarter, the company posted a loss of $1.49 per share.
The company reported revenues of $7.4 million, which missed the Zacks Consensus Estimate of $7.7 million. In the year-ago quarter, the company recorded total revenues of $3.5 million.
Quarter in Detail
In the reported quarter, revenues were generated entirely from product revenues of Agios’ only marketed drug, Pyrukynd (mitapivat), which the FDA approved for treating hemolytic anemia in adults with pyruvate kinase (PK) deficiency in February 2022.
Pyrukynd revenues in the United States were up 110% year over year and 10% sequentially. The top line missed our model estimate of $7.8 million.
Given the ultra-rare nature of the disease and long lead times | In the year-ago quarter, the company recorded total revenues of $3.5 million. Quarter in Detail In the reported quarter, revenues were generated entirely from product revenues of Agios’ only marketed drug, Pyrukynd (mitapivat), which the FDA approved for treating hemolytic anemia in adults with pyruvate kinase (PK) deficiency in February 2022. Given the ultra-rare nature of the disease and long lead times | Agios Pharmaceuticals, Inc. AGIO reported a loss per share of $1.64 in third-quarter 2023, narrower than the Zacks Consensus Estimate of a loss of $1.69. The company reported revenues of $7.4 million, which missed the Zacks Consensus Estimate of $7.7 million. Quarter in Detail In the reported quarter, revenues were generated entirely from product revenues of Agios’ only marketed drug, Pyrukynd (mitapivat), which the FDA approved for treating hemolytic anemia in adults with pyruvate kinase (PK) deficiency in February 2022. | Agios Pharmaceuticals, Inc. AGIO reported a loss per share of $1.64 in third-quarter 2023, narrower than the Zacks Consensus Estimate of a loss of $1.69. The company reported revenues of $7.4 million, which missed the Zacks Consensus Estimate of $7.7 million. Quarter in Detail In the reported quarter, revenues were generated entirely from product revenues of Agios’ only marketed drug, Pyrukynd (mitapivat), which the FDA approved for treating hemolytic anemia in adults with pyruvate kinase (PK) deficiency in February 2022. | In the year-ago quarter, the company posted a loss of $1.49 per share. The company reported revenues of $7.4 million, which missed the Zacks Consensus Estimate of $7.7 million. Quarter in Detail In the reported quarter, revenues were generated entirely from product revenues of Agios’ only marketed drug, Pyrukynd (mitapivat), which the FDA approved for treating hemolytic anemia in adults with pyruvate kinase (PK) deficiency in February 2022. |
35513.0 | 2023-11-03 00:00:00 UTC | Allogene's (ALLO) Q3 Loss Narrower Than Expected, Sales Miss | ACAD | https://www.nasdaq.com/articles/allogenes-allo-q3-loss-narrower-than-expected-sales-miss | nan | nan | Allogene Therapeutics, Inc. ALLO incurred a loss of 37 cents per share in third-quarter 2023, narrower than the Zacks Consensus Estimate of a loss of 53 cents. In the year-ago quarter, the company reported a loss of 58 cents.
ALLO recorded revenues of $0.04 million during the quarter, missing the Zacks Consensus Estimate of $0.05 million. Revenues were down 12% year over year.
Quarter in Detail
Research & development (R&D) expenses were $46.0 million, down 28% from the year-ago quarter’s level.
General and administrative (G&A) expenses declined 10.0% year over year to $17.0 million.
Shares of Allogene have plunged 52.8% in the year-to-date period compared with the industry’s 23.5% decline.
Image Source: Zacks Investment Research
Allogene had $497.7 million of cash, cash equivalents and investments as of Sep 30, 2023, compared with $544.5 million as of Jun 30, 2023.
Maintains 2023 Guidance
Allogene anticipates operating expenses for the full year to be approximately $340 million, which includes non-cash stock compensation expenses of around $80 million.
Cash burn for 2023 is expected to be approximately $230 million. Based on these projections, management expects the existing cash runway to be sufficient to fund operations into second-half 2025.
Pipeline Update
Allogene has six pipeline candidates in early-stage of clinical development, including five AlloCAR T cell product candidates, namely ALLO-501, ALLO-501A, ALLO-715, ALLO-605 and ALLO-316 and a monoclonal antibody (mAB) ALLO-647.
ALLO-501 is being evaluated in a phase I ALPHA study for r/r non-Hodgkin lymphoma (NHL) subtypes. A second-generation version of ALLO-501, ALLO-501A, is also being developed for NHL in the phase I/II ALPHA2 study.
Management is currently enrolling study participants in the phase II portion of the ALPHA2 study, which evaluates ALLO-501A in patients with relapsed/refractory (r/r) large B cell lymphoma (LBCL). The study is expected to complete enrolment in the first half of 2024, and a data readout is expected by 2024-end.
ALLO-316, the company’s first CAR T candidate for solid tumors, is being evaluated in the phase I TRAVERSE study in adults with advanced or metastatic renal cell carcinoma (ccRCC). Dose escalation in the TRAVERSE study is expected to be completed by early 2024. Allogene intends to target an academic forum in early 2024 to provide an update on this study.
Allogene Therapeutics, Inc. Price
Allogene Therapeutics, Inc. price | Allogene Therapeutics, Inc. Quote
Zacks Rank & Other Stocks to Consider
Allogene currently has a Zacks Rank #2 (Buy). Some other top-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Alkermes ALKS and Puma Biotechnology PBYI. While Puma Biotechnology sports a Zacks Rank #1 (Strong Buy), Acadia and Alkermes carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Puma Biotechnology’s earnings estimates for 2024 have increased from 55 cents to 56 cents per share in the past 30 days. Year to date, Puma Biotechnology’s stock has lost 41.1%.
Puma Biotechnology beat earnings estimates in three of the last four quarters while missing the mark on one occasion. On average, the company’s earnings witnessed a negative earnings surprise of 95.94%. In the last reported quarter, PBYI delivered an earnings surprise of 42.86%.
In the past 30 days, estimates for Acadia’s 2023 loss per share have narrowed from 41 cents to 37 cents. During the same period, the earnings estimates per share for 2024 have risen from 60 cents to 68 cents. Shares of ACAD are up 44.4% in the year-to-date period.
Earnings of Acadia beat estimates in two of the last four quarters while missing the mark on the other two occasions, witnessing an average earnings surprise of 20.33%. In the last reported quarter, Acadia’s earnings beat estimates by 108.33%.
In the past 30 days, the estimate for Alkermes’ 2023 and 2024 EPS have increased from $1.61 to $1.63 and $1.93 to $2.14, respectively. Shares of ALKS are down 6.1% in the year-to-date period.
Earnings of Alkermes beat estimates in each of the last four quarters, witnessing an average earnings surprise of 93.34%. Alkermes’ earnings beat estimates by 45.45%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other top-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Alkermes ALKS and Puma Biotechnology PBYI. Allogene intends to target an academic forum in early 2024 to provide an update on this study. While Puma Biotechnology sports a Zacks Rank #1 (Strong Buy), Acadia and Alkermes carry a Zacks Rank #2. | Some other top-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Alkermes ALKS and Puma Biotechnology PBYI. Click to get this free report Alkermes plc (ALKS) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Allogene Therapeutics, Inc. (ALLO) : Free Stock Analysis Report To read this article on Zacks.com click here. Allogene intends to target an academic forum in early 2024 to provide an update on this study. | Click to get this free report Alkermes plc (ALKS) : Free Stock Analysis Report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Allogene Therapeutics, Inc. (ALLO) : Free Stock Analysis Report To read this article on Zacks.com click here. Allogene intends to target an academic forum in early 2024 to provide an update on this study. Some other top-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Alkermes ALKS and Puma Biotechnology PBYI. | Allogene intends to target an academic forum in early 2024 to provide an update on this study. Some other top-ranked stocks in the overall healthcare sector include Acadia Pharmaceuticals ACAD, Alkermes ALKS and Puma Biotechnology PBYI. While Puma Biotechnology sports a Zacks Rank #1 (Strong Buy), Acadia and Alkermes carry a Zacks Rank #2. |
35514.0 | 2023-11-03 00:00:00 UTC | Acadia (ACAD) Q3 Earnings and Sales Beat Estimates, Stock Up | ACAD | https://www.nasdaq.com/articles/acadia-acad-q3-earnings-and-sales-beat-estimates-stock-up | nan | nan | Acadia Pharmaceuticals Inc. ACAD reported third-quarter 2023 loss of 40 cents per share, narrower than the Zacks Consensus Estimate of a loss of 43 cents. In the year-ago quarter, the company had incurred a loss of 17 cents per share.
The company recorded total revenues of $211.7 million in the reported quarter, surpassing the Zacks Consensus Estimate of $194 million. Acadia’s net product revenues comprise revenues generated from the sale of its two marketed products, Nuplazid (pimavanserin) and the newly-approved Daybue (trofinetide).
Nuplazid is an FDA-approved treatment for hallucinations and delusions associated with Parkinson’s disease psychosis. On the other hand, Acadia’s second product, Daybue, was approved by the FDA in March 2023 for the treatment of Rett syndrome in adult and pediatric patients aged two years and older.
Daybue was made available in the U.S. market in April 2023.
The company’s stock climbed 3.7% in the after-market hours following the better-than-expected third-quarter results. Year to date, shares of Acadia have shot up 44.4% against the industry’s 23.5% fall.
Image Source: Zacks Investment Research
Quarter in Detail
In the reported quarter, revenues from Nuplazid sales increased 10.8% year over year to $144.8 million. Nuplazid sales increased 2% sequentially in the third quarter. Per the company, the uptick in Nuplazid sales was primarily driven by a $7 million in-channel inventory reduction in the prior year that did not recur this year. The reported third-quarter figure beat our model estimate of $133.3 million.
In the first full quarter of commercialization following the April 2023 launch, Daybue recorded net product sales of $66.9 million.
Research and development (R&D) expenses in the quarter were $157 million, up 93% year over year. This uptick in R&D cost was driven by one-time expenses incurred due to the agreement with Neuren during the quarter.
In July 2023, Acadia announced expanding its current licensing agreement for trofinetidewith Neuren Pharmaceuticals. Under the agreement, ACAD acquired rights to market trofinetide outside North America along with exclusive global rights to Neuren’s development candidate, NNZ-2591, in Rett syndrome and Fragile X syndrome.
Selling, general and administrative (SG&A) expenses were $97.9 million, up 25.4% year over year. The increase in such expenses can be attributed to a rise in commercial costs associated with the Daybue launch, partially offset by efficiencies in Acadia’s commercial support of Nuplazid.
Acadia had cash, cash equivalents and investments worth $345.9 million as of Sep 30, 2023 compared with $375.4 million as of Jun 30, 2023. The decrease in cash balance was on account of a $100 million upfront payment made to Nueren in July for worldwide rights to Daybue.
2023 Sales Guidance Updated
Acadia expects fourth-quarter 2023 Daybue sales in the range of $80-$87.5 million.
ACAD also raised the lower end of its full-year 2023 Nuplazid net sales guidance. The company now expects Nuplazid revenues in the $537.5-$545 million range compared with the previously guided range of $530-$545 million.
Moreover, the company expects its full-year R&D expenses in the band of $340-$350 million compared with the previous guidance of $335-$355 million.
For SG&A expenses guidance, the company again raised the lower end of the guided range. Acadia now expects full-year SG&A expenses in the range of $390-$400 million compared with the previous guidance of $380-$400 million. The anticipated rise in SG&A expenses is on account of higher operating costs due to retaining employees and commercialization costs associated with Daybue launch.
Pipeline Updates
The company is currently evaluating pimavanserin in the phase III ADVANCE-2 study for treating negative symptoms of schizophrenia. The company has completed enrollment in the study and expects to announce top-line results from the same in the first quarter of 2024.
Acadia is also developing another pipeline candidate, ACP-204, as a potential treatment for Alzheimer’s disease psychosis (ADP). In the third-quarter earnings release, the company announced that it plans to initiate a phase II study on ACP-204 in the ADP indication in the fourth quarter of 2023.
Additionally, the company is also planning to initiate a phase III study on ACP-101for the treatment of hyperphagia in Prader-Willi syndrome in the fourth quarter of 2023.
ACADIA Pharmaceuticals Inc. Price and Consensus
ACADIA Pharmaceuticals Inc. price-consensus-chart | ACADIA Pharmaceuticals Inc. Quote
Zacks Rank and Other Stocks to Consider
Acadia currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks worth mentioning are Dynavax Technologies DVAX, Apellis Pharmaceuticals APLS and Adicet Bio, Inc. ACET. While DVAX sports a Zacks Rank #1 (Strong Buy), APLS and ACET carry a Zacks Rank #2 each at present.
You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 30 days, the Zacks Consensus Estimate for Dynavax’s 2023 loss per share has narrowed from 23 cents to 22 cents. The estimate for Dynavax’s 2024 earnings per share is currently pegged at 8 cents. Year to date, shares of DVAX have gained 32.2%.
DVAX’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 25.78%.
In the past 30 days, the Zacks Consensus Estimate for Apellis’ 2023 loss per share has narrowed from $4.89 to $4.32. During the same time frame, the estimate for Apellis’ 2024 loss per share has narrowed from $2.77 to $2.15. Year to date, shares of APLS have lost 4.6%.
APLS beat estimates in two of the trailing four quarters, missing the mark on the other two occasions, delivering an average negative earnings surprise of 3.91%.
In the past 30 days, the estimate for Adicet Bio’s 2023 loss per share has remained constant at $2.93. During the same period, the estimate for Adicet’s 2024 loss per share has remained constant at $2.40. Year to date, shares of ACET have fallen 83.4%.
ACET’s earnings beat estimates in two of the trailing four quarters, missing the mark on the other two occasions, delivering an average negative surprise of 7.70%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On the other hand, Acadia’s second product, Daybue, was approved by the FDA in March 2023 for the treatment of Rett syndrome in adult and pediatric patients aged two years and older. Acadia Pharmaceuticals Inc. ACAD reported third-quarter 2023 loss of 40 cents per share, narrower than the Zacks Consensus Estimate of a loss of 43 cents. Acadia’s net product revenues comprise revenues generated from the sale of its two marketed products, Nuplazid (pimavanserin) and the newly-approved Daybue (trofinetide). | Acadia Pharmaceuticals Inc. ACAD reported third-quarter 2023 loss of 40 cents per share, narrower than the Zacks Consensus Estimate of a loss of 43 cents. ACADIA Pharmaceuticals Inc. Price and Consensus ACADIA Pharmaceuticals Inc. price-consensus-chart | ACADIA Pharmaceuticals Inc. Quote Zacks Rank and Other Stocks to Consider Acadia currently carries a Zacks Rank #2 (Buy). Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Adicet Bio, Inc. (ACET) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report To read this article on Zacks.com click here. | ACADIA Pharmaceuticals Inc. Price and Consensus ACADIA Pharmaceuticals Inc. price-consensus-chart | ACADIA Pharmaceuticals Inc. Quote Zacks Rank and Other Stocks to Consider Acadia currently carries a Zacks Rank #2 (Buy). Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Adicet Bio, Inc. (ACET) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals Inc. ACAD reported third-quarter 2023 loss of 40 cents per share, narrower than the Zacks Consensus Estimate of a loss of 43 cents. | Acadia Pharmaceuticals Inc. ACAD reported third-quarter 2023 loss of 40 cents per share, narrower than the Zacks Consensus Estimate of a loss of 43 cents. Acadia’s net product revenues comprise revenues generated from the sale of its two marketed products, Nuplazid (pimavanserin) and the newly-approved Daybue (trofinetide). On the other hand, Acadia’s second product, Daybue, was approved by the FDA in March 2023 for the treatment of Rett syndrome in adult and pediatric patients aged two years and older. |
35515.0 | 2023-11-01 00:00:00 UTC | Is Medpace (MEDP) Outperforming Other Medical Stocks This Year? | ACAD | https://www.nasdaq.com/articles/is-medpace-medp-outperforming-other-medical-stocks-this-year | nan | nan | Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Medpace (MEDP) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Medpace is one of 1091 companies in the Medical group. The Medical group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Medpace is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for MEDP's full-year earnings has moved 5.2% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that MEDP has returned about 14.3% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -11.3% on a year-to-date basis. As we can see, Medpace is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Acadia Pharmaceuticals (ACAD). The stock is up 41.8% year-to-date.
For Acadia Pharmaceuticals, the consensus EPS estimate for the current year has increased 6.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Medpace belongs to the Medical Services industry, a group that includes 65 individual stocks and currently sits at #75 in the Zacks Industry Rank. On average, stocks in this group have lost 16.2% this year, meaning that MEDP is performing better in terms of year-to-date returns.
Acadia Pharmaceuticals, however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 529-stock industry is ranked #73. The industry has moved -23.3% so far this year.
Going forward, investors interested in Medical stocks should continue to pay close attention to Medpace and Acadia Pharmaceuticals as they could maintain their solid performance.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand-picked 7 your immediate attention.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Going forward, investors interested in Medical stocks should continue to pay close attention to Medpace and Acadia Pharmaceuticals as they could maintain their solid performance. One other Medical stock that has outperformed the sector so far this year is Acadia Pharmaceuticals (ACAD). For Acadia Pharmaceuticals, the consensus EPS estimate for the current year has increased 6.1% over the past three months. | Click to get this free report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. One other Medical stock that has outperformed the sector so far this year is Acadia Pharmaceuticals (ACAD). For Acadia Pharmaceuticals, the consensus EPS estimate for the current year has increased 6.1% over the past three months. | Click to get this free report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. One other Medical stock that has outperformed the sector so far this year is Acadia Pharmaceuticals (ACAD). For Acadia Pharmaceuticals, the consensus EPS estimate for the current year has increased 6.1% over the past three months. | One other Medical stock that has outperformed the sector so far this year is Acadia Pharmaceuticals (ACAD). For Acadia Pharmaceuticals, the consensus EPS estimate for the current year has increased 6.1% over the past three months. Acadia Pharmaceuticals, however, belongs to the Medical - Biomedical and Genetics industry. |
35516.0 | 2023-11-01 00:00:00 UTC | Novo Nordisk (NVO) to Report Q3 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/novo-nordisk-nvo-to-report-q3-earnings%3A-whats-in-the-cards | nan | nan | Novo Nordisk NVO is anticipated to beat estimates when it reports its third-quarter 2023 results on Nov 2, before the opening bell.
Let’s see how things are shaping up for the quarter to be reported.
Factors at Play
Novo Nordisk operates under two segments: Diabetes and Obesity Care and Rare disease.
The company’s revenues in the last reported quarter were driven by higher sales of Diabetes and Obesity Care products. Diabetes medicines like Ozempic, Rybelsus and Human insulin are expected to have put up a strong performance in the third quarter of 2023 as well.
Obesity Care (Saxenda and Wegovy) sales were up significantly year over year in the second quarter of 2023, primarily due to increased Wegovy sales. This was observed after a second contract manufacturer for Wegovy initiated production in April 2023 to meet the increasing demand for the drug. Hence, the strong sales trend of Wegovy is expected to have continued into the to-be-reported quarter, boosting revenues from this segment.
Net sales in the Rare disease segment were down in the last reported quarter due to a temporary reduction in manufacturing output. This trend is likely to have continued in the third quarter. In the Rare disease segment, only the Hemophilia A and B drugs witnessed year-over-year growth in the previous quarter. These drugs are also likely to have contributed to the company's revenues in the to-be-reported quarter.
Higher costs driven by clinical activity for late-stage studies are likely to have escalated research and development costs in the quarter to be reported.
Higher distribution costs, promotional activities and Obesity care market development activities are likely to have spiked Novo Nordisk’s sales and distribution costs in the third quarter of 2023.
We would like to remind the investors that last month, Novo Nordisk upped its sales and operating profit forecast for 2023 yet again on the back of higher demand for diabetes drug Ozempic and obesity drug Wegovy.
Sales for 2023 are projected to grow 32-38%, up from the earlier mentioned 27-33%. Operating profit growth is now estimated at 40-46%, up from the previous 31-37% estimate.
Please note that the company raised its annual guidance concurrent with second-quarter results earlier.
Earnings Surprise History
The company has a mixed earnings surprise history. Earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, matched once and missed on another occasion, the average negative earnings surprise being 0.28%.
Year to date, shares of Novo Nordisk have shot up 42.7% compared with the industry’s 2% rise.
Image Source: Zacks Investment Research
What Our Model Predicts
Our proven model predicts an earnings beat for Novo Nordisk this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: NVO has an Earnings ESP of +17.84%, as the Most Accurate Estimate currently exceeds the Zacks Consensus Estimate by 11 cents per share.
Zacks Rank: The company currently carries a Zacks Rank #2.
Novo Nordisk A/S Price and Consensus
Novo Nordisk A/S price-consensus-chart | Novo Nordisk A/S Quote
Other Stocks to Consider
Here are some other stocks in the same industry that too have the right combination of elements to beat on earnings this time around:
bluebird bio BLUE has an Earnings ESP of +19.13% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of bluebird have declined 57.4% year to date. It beat earnings estimates in each of the last four quarters. BLUE has an earnings surprise of 89.60%, on average.
ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2 at present.
Shares of ACADIA have gained 41.8% year to date. It beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. ACAD has an earnings surprise of 20.33%, on average.
Ligand Pharmaceuticals LGND has an Earnings ESP of +2.94% and a Zacks Rank #1 at present.
Shares of Ligand have decreased 21.7% year to date. It beat earnings estimates in three of the last four quarters while missing the mark on one occasion. LGND has a positive earnings surprise of 52.47%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
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Novo Nordisk A/S (NVO) : Free Stock Analysis Report
Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report
bluebird bio, Inc. (BLUE) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2 at present. Shares of ACADIA have gained 41.8% year to date. ACAD has an earnings surprise of 20.33%, on average. | Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report bluebird bio, Inc. (BLUE) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2 at present. Shares of ACADIA have gained 41.8% year to date. | Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report bluebird bio, Inc. (BLUE) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2 at present. Shares of ACADIA have gained 41.8% year to date. | ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2 at present. Shares of ACADIA have gained 41.8% year to date. ACAD has an earnings surprise of 20.33%, on average. |
35517.0 | 2023-10-31 00:00:00 UTC | Commit To Purchase Acadia Pharmaceuticals At $15, Earn 7.3% Using Options | ACAD | https://www.nasdaq.com/articles/commit-to-purchase-acadia-pharmaceuticals-at-%2415-earn-7.3-using-options | nan | nan | Investors considering a purchase of Acadia Pharmaceuticals Inc (Symbol: ACAD) stock, but cautious about paying the going market price of $22.49/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the January 2025 put at the $15 strike, which has a bid at the time of this writing of $1.10. Collecting that bid as the premium represents a 7.3% return against the $15 commitment, or a 6% annualized rate of return (at Stock Options Channel we call this the YieldBoost).
Selling a put does not give an investor access to ACAD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. And the person on the other side of the contract would only benefit from exercising at the $15 strike if doing so produced a better outcome than selling at the going market price. (Do options carry counterparty risk? This and six other common options myths debunked). So unless Acadia Pharmaceuticals Inc sees its shares fall 33.2% and the contract is exercised (resulting in a cost basis of $13.90 per share before broker commissions, subtracting the $1.10 from $15), the only upside to the put seller is from collecting that premium for the 6% annualized rate of return.
Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $15 strike is located relative to that history:
The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the January 2025 put at the $15 strike for the 6% annualized rate of return represents good reward for the risks. We calculate the trailing twelve month volatility for Acadia Pharmaceuticals Inc (considering the last 251 trading day closing values as well as today's price of $22.49) to be 49%. For other put options contract ideas at the various different available expirations, visit the ACAD Stock Options page of StockOptionsChannel.com.
In mid-afternoon trading on Tuesday, the put volume among S&P 500 components was 2.17M contracts, with call volume at 1.99M, for a put:call ratio of 1.09 so far for the day, which is unusually high compared to the long-term median put:call ratio of .65. In other words, there are lots more put buyers out there in options trading so far today than would normally be seen, as compared to call buyers. Find out which 15 call and put options traders are talking about today.
Top YieldBoost Puts of the S&P 500 »
Also see:
Manufacturing Dividend Stock List
CBCA Options Chain
Funds Holding MINV
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors considering a purchase of Acadia Pharmaceuticals Inc (Symbol: ACAD) stock, but cautious about paying the going market price of $22.49/share, might benefit from considering selling puts among the alternative strategies at their disposal. Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $15 strike is located relative to that history: The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the January 2025 put at the $15 strike for the 6% annualized rate of return represents good reward for the risks. We calculate the trailing twelve month volatility for Acadia Pharmaceuticals Inc (considering the last 251 trading day closing values as well as today's price of $22.49) to be 49%. | Selling a put does not give an investor access to ACAD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $15 strike is located relative to that history: The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the January 2025 put at the $15 strike for the 6% annualized rate of return represents good reward for the risks. We calculate the trailing twelve month volatility for Acadia Pharmaceuticals Inc (considering the last 251 trading day closing values as well as today's price of $22.49) to be 49%. | Selling a put does not give an investor access to ACAD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $15 strike is located relative to that history: The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the January 2025 put at the $15 strike for the 6% annualized rate of return represents good reward for the risks. Investors considering a purchase of Acadia Pharmaceuticals Inc (Symbol: ACAD) stock, but cautious about paying the going market price of $22.49/share, might benefit from considering selling puts among the alternative strategies at their disposal. | Investors considering a purchase of Acadia Pharmaceuticals Inc (Symbol: ACAD) stock, but cautious about paying the going market price of $22.49/share, might benefit from considering selling puts among the alternative strategies at their disposal. Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $15 strike is located relative to that history: The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the January 2025 put at the $15 strike for the 6% annualized rate of return represents good reward for the risks. Selling a put does not give an investor access to ACAD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. |
35518.0 | 2023-10-31 00:00:00 UTC | STERIS (STE) Set to Post Q2 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/steris-ste-set-to-post-q2-earnings%3A-whats-in-the-cards | nan | nan | STERIS plc STE is set to release second-quarter fiscal 2024 numbers on Nov 7 after the closing bell.
The company posted adjusted earnings per share (EPS) of $2.00 in the last reported quarter, which beat the Zacks Consensus Estimate by 7.5%. STERIS beat earnings estimates in two of the trailing four quarters and missed the same in two, posting a negative earnings surprise of 1.25% on average.
Let’s look at how things have shaped up before this announcement.
Factors at Play
Healthcare
The Healthcare arm of STERIS is likely to have generated strong organic revenues in the second quarter of fiscal 2024, as witnessed during the previous quarter’s months. The performance is expected to have witnessed growth in capital equipment and an improvement in consumables and service revenues.
With an improved supply chain environment, coupled with STE’s ability to reduce lead times, it is likely to register strong capital equipment shipments. Per the fiscal first-quarter update, hospital capital spending remains robust, as evidenced by the healthcare backlog, totaling almost $500 million at the end of the quarter despite strong shipments. We expect these trends to continue through the fiscal second quarter, leading to top-line growth.
Our model projects the segment’s revenues for the fiscal second quarter to improve 8.9% year over year to $797.7 million.
Applied Sterilization Technologies (AST)
Similar to the last reported quarter, the performance of this segment is likely to be driven by solid underlying demand from core medical device customers. With the steady recovery of procedure volumes in markets across the United States, we anticipate stronger growth in the AST segment in the to-be-reported quarters.
STERIS plc Price and EPS Surprise
STERIS plc price-eps-surprise | STERIS plc Quote
We expect the reduced demand for single-use bioprocessing disposables is likely to follow in second-quarter fiscal 2024 as well.
Per our model, the projected revenues of the AST segment for the fiscal second quarter is pegged at $239.4 million, which suggests an increase of 3% year over year.
Life Sciences
In second-quarter fiscal 2024, we expect the Life Science segment to have benefited from an improvement in consumable revenues, capital equipment revenues and service revenues. The company had a record quarter of capital shipments last time due to the execution of a delayed capital shipment of about $10 million.
On the consumable side, STERIS had a strong finish in fiscal 2023, having worked through supply-chain challenges, including more normalized shipping to the Asia Pacific. Growth in service revenues for the year was backed by solid performance, equipment maintenance and the installation of new capital equipment. We believe the company is likely to have benefitted from all these trends in the fiscal second quarter.
Our model projects the segment’s revenues for the fiscal second quarter to rise 10.3% year over year to $138.7 million.
At the end of fiscal 2023, Life Science’s capital equipment backlog remained at just more than $100 million. While we expect the company to return to the normal cadence of shipments in the latter part of fiscal 2024, they may not have fully materialized in the fiscal second quarter.
Dental
We expect the Dental business is likely to post lower or flat organic revenues in the fiscal second quarter of 2024, similar to the last reported one. On the first quarter’searnings call management noted that it is witnessing patient volumes to improve for the first time post-COVID. We believe this improving scenario will benefit the company in the fiscal second quarter.
Per our model, the projected revenues of the Dental segment for the fiscal second quarter is pegged at $107.9 million, indicating a year-over-year decline of 1.5%.
Q2 Estimates
The Zacks Consensus Estimate for STERIS’ second quarter fiscal 2024 revenues is pegged at $1.29 billion. This suggests an increase of 7.3% from the year-ago reported figure.
The Zacks Consensus Estimate for its second-quarter fiscal 2024 EPS of $2.05 indicates a year-over-year rise of 3%.
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, has a higher chance of beating estimates, which is not the case here.
Earnings ESP: STERIS has an Earnings ESP of -0.49%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this quarter.
Insulet PODD has an Earnings ESP of +6.61% and a Zacks Rank #2. The company will release third-quarter 2023 results on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Insulet has a long-term expected earnings growth rate of 35.7%. PODD has an earnings yield of 1.13% against the industry’s -2.58%.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. The company is scheduled to release third-quarter 2023 results on Nov 2.
ACAD has an expected long-term earnings growth rate of 43.4%. In the trailing four quarters, the company delivered an average earnings surprise of 20.33%.
Medpace MEDP currently has an Earnings ESP of +2.29% and a Zacks Rank #2. The company recently released its third-quarter 2023 results on Oct 23.
Medpace has an expected earnings growth rate of 17.9% for the next year. MEDP’s earnings beat estimates in all the trailing four quarters, the average surprise being 14.62%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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STERIS plc (STE) : Free Stock Analysis Report
Insulet Corporation (PODD) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report STERIS plc (STE) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report STERIS plc (STE) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Click to get this free report STERIS plc (STE) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report STERIS plc (STE) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35519.0 | 2023-10-31 00:00:00 UTC | Perrigo (PRGO) to Report Q3 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/perrigo-prgo-to-report-q3-earnings%3A-whats-in-the-cards-0 | nan | nan | Perrigo Company plc PRGO is scheduled to report third-quarter 2023 results on Nov 7, before the opening bell. In the last reported quarter, the company posted an earnings surprise of 16.67%.
Let’s see how things have shaped up for this announcement.
Factors at Play
During the third quarter, the performance of Perrigo’s Consumer Self Care Americas (“CSCA”) and Consumer Self Care International (“CSCI”) segments is expected to have been aided by products added through its HRA Pharma acquisition. Significant sales growth of new products is likely to have boosted sales in the soon-to-be-reported quarter. Currency movements and loss of sales following the divestiture of Latin American businesses are likely to have affected the company’s ex-U.S. sales.
The Zacks Consensus Estimate and our model estimate for CSCA sales stand at $776 million and $774 million, respectively. For sales in the CSCI segment, the Zacks Consensus Estimate and our model estimate are both pegged at $419 million.
Higher demand for infant formula in the United States is also likely to have boosted the top line in the to-be-reported quarter.
Perrigo reported higher net price realization for its products through strategic price increases in recent quarters. The improving price trend will likely be reflected in third-quarter sales, benefiting the top line.
We expect macroeconomic factors like cost headwinds (including the higher cost of goods sold), the rising cost of capital and supply chain disruptionsin certain parts of the world amid the Russia-Ukraine and Israel-Hamas wars to have dented operating margins.
Investors are likely to ask questions about potential product launches this year. We also expect management to provide an update on the expected impact of macroeconomic pressures in 2023.
Earnings Surprise History
Perrigo’s shares have lost 20.5% year to date compared with the industry’s 15.5% fall.
Image Source: Zacks Investment Research
Perrigo’s earnings performance has been decent over the trailing four quarters. The company’s earnings beat estimates in three of the last four quarters and missed the mark on one occasion, registering an earnings surprise of 3.95% on average.
Perrigo Company plc Price and EPS Surprise
Perrigo Company plc price-eps-surprise | Perrigo Company plc Quote
Earnings Whispers
Our proven model does not predict an earnings beat for Perrigo this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not thecase here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Perrigo has an Earnings ESP of 0.00% as both the Most Accurate Estimate and Zacks Consensus Estimate are pegged at 65 cents.
Zacks Rank: Perrigo currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Dynavax Technologies DVAX has an Earnings ESP of +700.00% and a Zacks Rank #1.
In the year so far, Dynavax’s stock has gained 35.9%. Dynavax’s earnings beat estimates in two of the last four quarters while missing the mark on other two occasions, witnessing an average earnings surprise of 25.78%. Dynavaxis scheduled to release second-quarter results on Nov 2, after market close.
Ligand Pharmaceuticals LGND has an Earnings ESP of +2.94% and a Zacks Rank #1.
Ligand Pharmaceuticals’ stock has lost 23.9% in the year-to-date period. LGND beat earnings estimates in three of the last four quarters while missing the mark on one occasion. Ligand has delivered an earnings surprise of 52.47% on average. Ligand is scheduled to report its Q3 earnings on Nov 8, after the closing bell.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2.
Shares of Acadia Pharmaceuticals have gained 39.6% in the year-to-date period. Earnings of ACAD beat estimates in two of the last four quarters while missing the mark on other two occasions, witnessing an average earnings surprise of 20.33%. Acadia is scheduled to release third-quarter results on Nov 2, after market closes.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report
Perrigo Company plc (PRGO) : Free Stock Analysis Report
Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Shares of Acadia Pharmaceuticals have gained 39.6% in the year-to-date period. Earnings of ACAD beat estimates in two of the last four quarters while missing the mark on other two occasions, witnessing an average earnings surprise of 20.33%. | Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Perrigo Company plc (PRGO) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Shares of Acadia Pharmaceuticals have gained 39.6% in the year-to-date period. | Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Perrigo Company plc (PRGO) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Shares of Acadia Pharmaceuticals have gained 39.6% in the year-to-date period. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Shares of Acadia Pharmaceuticals have gained 39.6% in the year-to-date period. Earnings of ACAD beat estimates in two of the last four quarters while missing the mark on other two occasions, witnessing an average earnings surprise of 20.33%. |
35520.0 | 2023-10-30 00:00:00 UTC | Gilead (GILD) Gears Up to Report Q3 Earnings: What's in Store? | ACAD | https://www.nasdaq.com/articles/gilead-gild-gears-up-to-report-q3-earnings%3A-whats-in-store | nan | nan | Gilead Sciences Inc. GILD is set to report third-quarter 2023 results on Nov 7, after market close.
The biotech major has a mixed record, with earnings beating estimates in two of the last four quarters and missing in the remaining two, the average beat being 2.77%. In the last reported quarter, the company missed expectations by 16.25%.
Gilead Sciences, Inc. Price, Consensus and EPS Surprise
Gilead Sciences, Inc. price-consensus-eps-surprise-chart | Gilead Sciences, Inc. Quote
Factors to Note
Revenues in the third quarter have most likely been boosted by increased sales in oncology and HIV franchises, as in the first and second quarters. However, a decline in Veklury (remdesivir) sales is likely to have dented this growth slightly.
Sales in the HIV franchise are being driven by higher demand for the flagship HIV therapies, Biktarvy and Descovy. Biktarvy’s sales increased 17% year over year in the previous quarter due to higher demand and favorable pricing dynamics. The trend is likely to have continued in the to-be-reported quarter.
Descovy’s revenues were boosted by higher demand and favorable pricing dynamics in the previous quarter and the momentum is likely to have continued in the third quarter.
The Zacks Consensus Estimate and our model estimate for sales of Biktarvy and Descovy are pegged at $3 billion and $521 million, respectively.
The Liver Disease portfolio sales, including chronic hepatitis C virus, chronic hepatitis B virus and chronic hepatitis delta virus, increased in the previous quarter, driven by higher demand. The trend has most likely continued in the third quarter.
Sales of Veklury are likely to have seen a decline due to lower rates of COVID-19-related hospitalizations in all regions.
A strong increase in Cell Therapy product sales is likely to have boosted the top line in the third quarter. Yescarta sales are primarily being driven by increased demand for relapsed or refractory (“R/R”) large B-cell lymphoma in the United States and Europe. Tecartus (brexucabtagene autoleucel) sales are being fueled by increased demand in adult R/R B-cell precursor acute lymphoblastic leukemia and mantle cell lymphoma in the United States and Europe. Sales are likely to have experienced a sequential increase, driven by the label expansions of Yescarta and Tecartus.
The Zacks Consensus Estimate for Cell Therapy product sales is $498 million and our estimate for the same is $516 million.
Increased sales of Trodelvy, reflecting continued uptake in metastatic triple-negative breast cancer, have also likely boosted sales in the third quarter. The drug was also approved in Europe, which should positively impact sales. The Zacks Consensus Estimate for Trodelvy sales is $282 million and our estimate for the same is $278 million.
Operating expenses are also likely to have increased in the third quarter on higher R&D expenses.
Pipeline & Regulatory Updates
Apart from the regular top- and bottom-line numbers, we expect investors to focus on key pipeline updates when the company reports its to-be-reported quarter.
The FDA approved a label expansion of its anti-viral drug, Veklury. The drug is now approved in the United States without any dose adjustments for the treatment of COVID-19 in patients with mild, moderate or severe hepatic impairment.
The FDA has placed a partial clinical hold on new patient starts in studies evaluating magrolimab to treat acute myeloid leukemia(AML) in the United States. As a result of the hold, screening and enrollment of new study participants under the U.S. investigational new drug application (IND 147229) and U.S. Expanded Access Program will be paused. Nevertheless, patients already enrolled in AML studies may continue to receive treatment and be monitored according to the current study protocol.
The candidate is a potential first-in-class anti-CD47 immunotherapy and is being evaluated for several potential indications, including ongoing trials in solid tumors. Management stated that studies of magrolimab in solid tumors can continue without any impact from this hold.
The late-stage ENHANCE study on magrolimab in higher-risk myelodysplastic syndromes was discontinued previously.
Share Price Performance
Gilead’s stock has lost 2.3% in the past year compared with the industry's decline of 24.8%.
Image Source: Zacks Investment Research
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for Gilead this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: Earnings ESP for GILD is -1.14% as the Zacks Consensus Estimate is pinned at $1.91 per share and the Most Accurate Estimate is pegged at $1.89 per share. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are some drug and biotech stocks you may want to consider, as our model shows that they have the right combination of elements to post an earnings beat this season.
Ligand Pharmaceuticals LGND has an Earnings ESP of +2.94% and sports a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
LGND topped earnings estimates in three of the last four quarters and missed in the remaining one, with an earnings surprise of 52.47%, on average. Ligand is scheduled to release third-quarter 2023 results on Nov 6.
Acadia Pharmaceuticals ACAD currently has an Earnings ESP of +6.76% and a Zacks Rank #2.
Acadia beat earnings estimates in two of the trailing four quarters and missed in the remaining two. ACAD delivered an earnings surprise of 20.33%, on average. Year-to-date, shares of Acadia have gained 37.7%.
uniQure QURE has an Earnings ESP of +13.90% and a Zacks Rank #2 at present.
QURE beat earnings estimates in two of the trailing four quarters and missed in the remaining two. It delivered a negative earnings surprise of 17.83%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD currently has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia beat earnings estimates in two of the trailing four quarters and missed in the remaining two. ACAD delivered an earnings surprise of 20.33%, on average. | Click to get this free report Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report uniQure N.V. (QURE) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD currently has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia beat earnings estimates in two of the trailing four quarters and missed in the remaining two. | Click to get this free report Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report uniQure N.V. (QURE) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD currently has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia beat earnings estimates in two of the trailing four quarters and missed in the remaining two. | Acadia Pharmaceuticals ACAD currently has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia beat earnings estimates in two of the trailing four quarters and missed in the remaining two. ACAD delivered an earnings surprise of 20.33%, on average. |
35521.0 | 2023-10-30 00:00:00 UTC | Will Zimmer Biomet (ZBH) Beat Estimates This Earnings Season? | ACAD | https://www.nasdaq.com/articles/will-zimmer-biomet-zbh-beat-estimates-this-earnings-season-0 | nan | nan | Zimmer Biomet Holdings, Inc. ZBH is scheduled to report third-quarter 2023 results on Nov 7, before market open.
In the last reported quarter, the company’s earnings of $1.82 met the Zacks Consensus Estimate. Over the trailing four quarters, its earnings outperformed the consensus estimate on three occasions and met on one occasion, the average beat being 4.47%. Let’s take a look at how things have shaped up prior to this announcement.
Factors at Play
Like its industry competitors, Zimmer Biomet business too is currently entangled in several headwinds, including supply challenges, inflationary pressure, a tough labor market and the current geopolitical landscape. All these have been leading to significant revenue disruption. However, the company also assumes these headwinds to ease out, banking on ZBH’s strong pipeline and solid execution of its growth strategies. This is likely to be reflected in the third-quarter top-line results of the company. Yet, rising labor and raw material costs and FX headwinds might have impacted ZBH’s bottom line in the third quarter.
Further, the implementation of the volume-based procurement program brought down China’s orthopedic device prices, which might have otherwise impacted ZBH’s business in this region in the to-be-reported quarter.
Overall, Zimmer Biomet is expected to have particularly witnessed procedure recovery in its legacy business in the third quarter. Strong strategic execution and a solid momentum with innovations are expected to have driven third-quarter revenues within the Knee and Hip businesses.
We expect the company to have witnessed strength in its performances within its Hips and Knees product portfolio in the United States.
Zimmer Biomet Holdings, Inc. Price and EPS Surprise
Zimmer Biomet Holdings, Inc. price-eps-surprise | Zimmer Biomet Holdings, Inc. Quote
The company is expected to have witnessed strong performance acrossAvenir Complete hip. This flagship product along with G7 Revision System propels ZBH to a strong position within the direct anterior and revision submarkets of hip. Further, we are also hopeful aboutthe Triple Taper Stem, which completes the company’s direct interior approach portfolio. Zimmer Biomet earlier noted that, this new portfolio, combined with G7, is the most versatile acetabular component available and hence, will be unmatched in the industry. All these along with the continued solid Rosa pull-through in the hip category, especially in the United States, should significantly contribute to the top line within the Hip category.
Going by our model, the Hip business of Zimmer Biomet is projected to grow 2.1% in the third quarter on a year-over-year basis.
Within Knees, apart from a strong recovery in elective procedures, easy comparisons outside the United States, strong knee procedure recovery across most regions, continued global traction in the Persona knee system and continued increase in Rosa procedure penetration and pull-through are expected to have contributed to the company’s Knees business. The company is expected to have also gained from the Persona OsseoTi Keel Tibia for Cementless Knee Replacement.
Per our model, the Knee business is expected to grow 7% in the third quarter on a year-over-year basis.
Meanwhile, in the second quarter, the S.E.T. business (comprising Surgical, Sports Medicine, Foot and Ankle, Extremities and Trauma) witnessed pressure from reimbursement headwinds within the Restorative Therapies business. In addition, the company experienced more acute supply challenges within Sports and Trauma. These trends are still prevailing and once again are expected to have disrupted the company’s S.E.T. revenues in the third quarter. Yet, the company might report strong performance across key focus areas of CMFT, sports medicine and upper extremities. Zimmer Biomet is also likely to have gained from the launch of the Identity shoulder system in the United States.
For this business, our model shows a year-over-year expected revenue decline of 1.4% in the third quarter.
Q3 Estimates
The Zacks Consensus Estimate for third-quarter 2023 revenues is pegged at $1.74 billion, suggesting a 4.4% rise from the year-ago reported figure.
The Zacks Consensus Estimate for the company’s third-quarter 2023 earnings per share of $1.59 indicates a 0.6% rise from the year-ago adjusted earnings.
What Our Model Suggests
Per our proven model, a stock with a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has a higher chance of beating estimates. This is exactly the case, as you can see below.
Earnings ESP: Zimmer Biomet has an Earnings ESP of +0.56%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2.
Other Stocks to Consider
Here are some other medical stocks worth considering, as these have the right combination of elements to post an earnings beat this quarter.
Insulet PODD has an Earnings ESP of +6.61% and a Zacks Rank #2. The company will release third-quarter 2023 results on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Insulet has a long-term expected earnings growth rate of 35.7%. PODD has an earnings yield of 1.13% against the industry’s -2.58%.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. The company is scheduled to release third-quarter 2023 results on Nov 2.
ACAD has an expected long-term earnings growth rate of 43.4%. In the trailing four quarters, the company delivered an average earnings surprise of 20.33%.
Spero Therapeutics SPRO currently has an Earnings ESP of +60.00% and a Zacks Rank #2. The company is expected to release third-quarter 2023 results shortly.
SPRO’s earnings surpassed estimates in all the trailing four quarters, with the average surprise being 72.4%. The Zacks Consensus Estimate for Spero Therapeutics’ fiscal 2023 third-quarter loss per share indicates an improvement of 54.6% from the year-ago reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Spero Therapeutics, Inc. (SPRO) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Zimmer Biomet Holdings, Inc. (ZBH) : Free Stock Analysis Report Spero Therapeutics, Inc. (SPRO) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Zimmer Biomet Holdings, Inc. (ZBH) : Free Stock Analysis Report Spero Therapeutics, Inc. (SPRO) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Click to get this free report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Zimmer Biomet Holdings, Inc. (ZBH) : Free Stock Analysis Report Spero Therapeutics, Inc. (SPRO) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Zimmer Biomet Holdings, Inc. (ZBH) : Free Stock Analysis Report Spero Therapeutics, Inc. (SPRO) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35522.0 | 2023-10-30 00:00:00 UTC | Hologic (HOLX) Q4 Earnings Might Rise on 7.7% Breast Health Growth | ACAD | https://www.nasdaq.com/articles/hologic-holx-q4-earnings-might-rise-on-7.7-breast-health-growth | nan | nan | Hologic Inc. HOLX Breast Health segment is likely to have witnessed strong performance owing to improved semiconductor chip availability. Exceptional demand for clinically differentiated mammography instruments remains high.
The growing adoption of Panther instruments and an expanded Panther installed base are likely to have boosted the company’s growth.
We anticipate HOLX’s fourth-quarter fiscal 2023 performance, scheduled for release on Nov 9 after the closing bell, to reflect these aspects.
Click here to know how the company’s overall fiscal third-quarter performance is expected to be.
Breast Health
Bio-Rad is witnessing an improving trend in semiconductor chip availability, allowing the delivery of more gantries. Exceptional demand for clinically differentiated mammography instruments remains high. We believe these trends to have continued in the fiscal fourth quarter as well.
In the third quarter of fiscal 2023, the Breast Health arm registered strong growth primarily driven by increased volumes of digital mammography systems, especially 3D Dimensions systems and related workstation and workflow products, including software. Increased Trident systems unit sales and higher Faxitron breast-conserving surgery products aided growth. The upside can be attributed to improvement in supply chain constraints related to electronic components, primarily semiconductor chips. The company is also witnessing increased sales of its interventional breast solutions products, driven by Brevera systems and related needles. We believe these trends will continue through the fiscal fourth quarter as well, thus driving top-line growth.
In September 2023, Bio-Rad entered into an international collaboration with Bayer to offer contrast-enhanced mammography (CEM) solutions. The partnership will enhance the detection of breast cancer for women in multiple countries across the European, Canadian and Asia Pacific regions. We believe this collaboration to have boosted the company’s performance in the fourth quarter.
Per our model, Hologic’s Breast Health’s business revenues are projected at $296.3 million for the fiscal fourth quarter, up 7.7% year over year.
Diagnostics
In the quarter to be reported, Hologic is expected to have witnessed growth in the Diagnostics business (excluding COVID) from the growing adoption of Panther instruments and an expanded Panther installed base. The company’s expanded global installed base of more than 3,250 Panthers represents the catalyst for the division's sustained growth. The superior workflow of Panther, combined with a broad menu of nearly 20 FDA-approved assays across Panther and Panther Fusion systems, creates tremendous value for customers and differentiates it from competitors. We believe these growth catalysts to have driven the company’s performance in the quarter to be reported.
Hologic, Inc. Price and EPS Surprise
Hologic, Inc. price-eps-surprise | Hologic, Inc. Quote
Similar to the last reported quarter, the Diagnostics business is expected to have declined globally compared with the prior year’s levels due to significantly lower COVID testing.
Per our model, Hologic’s Diagnostic’s business revenues are projected at $488.3 million in Q4, a 6.2% decline year over year.
What Our Model Suggests
Our proven model does not conclusively predict an earnings beat for Hologic this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here.
Earnings ESP: Hologic has an Earnings ESP of +1.35%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently sports a Zacks Rank #4 (Sell).
Other Stocks to Consider
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this quarter.
Insulet PODD has an Earnings ESP of +6.61% and a Zacks Rank #2. The company will release third-quarter 2023 results on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Insulet has a long-term expected earnings growth rate of 35.7%. PODD has an earnings yield of 1.13% against the industry’s -2.58%.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. The company is scheduled to release third-quarter 2023 results on Nov 2.
ACAD has an expected long-term earnings growth rate of 43.4%. In the trailing four quarters, the company delivered an average earnings surprise of 20.33%.
Medpace MEDP currently has an Earnings ESP of +2.29% and a Zacks Rank #2. The company recently released its third-quarter 2023 results on Oct 23.
Medpace has an expected earnings growth rate of 17.9% for the next year. MEDP’s earnings beat estimates in all the trailing four quarters, the average surprise being 14.62%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
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Hologic, Inc. (HOLX) : Free Stock Analysis Report
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Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report Hologic, Inc. (HOLX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Hologic, Inc. (HOLX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Click to get this free report Hologic, Inc. (HOLX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report Hologic, Inc. (HOLX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35523.0 | 2023-10-30 00:00:00 UTC | Vertex (VRTX) to Report Q3 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/vertex-vrtx-to-report-q3-earnings%3A-whats-in-the-cards-0 | nan | nan | Vertex Pharmaceuticals Incorporated VRTX is anticipated to beat estimates when it reports its third-quarter 2023 results on Nov 6, after market close.
Factors to Consider
Vertex markets four cystic fibrosis (CF) products — Trikafta/Kaftrio, Symdeko (marketed as Symkevi in Europe), Orkambi and Kalydeco.
The company’s revenue growth in third-quarter 2023 is likely to have been driven by the rapid uptake of its blockbuster CF medicine, Trikafta/Kaftrio (Trikafta’s brand name in Europe). In the last reported quarter, international sales and expanded use in children (aged between two and five years) with CF in the United States drove up sales of the drug. This trend is likely to have continued in the to-be-reported quarter as well. The Zacks Consensus Estimate for Trikafta/Kaftrio sales is currently pegged at $2.26 million.
However, higher Trikafta sales are likely to have caused sales erosion of Vertex’s other CF drugs and existing combinations | Vertex Pharmaceuticals Incorporated VRTX is anticipated to beat estimates when it reports its third-quarter 2023 results on Nov 6, after market close. The company’s revenue growth in third-quarter 2023 is likely to have been driven by the rapid uptake of its blockbuster CF medicine, Trikafta/Kaftrio (Trikafta’s brand name in Europe). The Zacks Consensus Estimate for Trikafta/Kaftrio sales is currently pegged at $2.26 million. | Factors to Consider Vertex markets four cystic fibrosis (CF) products — Trikafta/Kaftrio, Symdeko (marketed as Symkevi in Europe), Orkambi and Kalydeco. In the last reported quarter, international sales and expanded use in children (aged between two and five years) with CF in the United States drove up sales of the drug. However, higher Trikafta sales are likely to have caused sales erosion of Vertex’s other CF drugs and existing combinations | Factors to Consider Vertex markets four cystic fibrosis (CF) products — Trikafta/Kaftrio, Symdeko (marketed as Symkevi in Europe), Orkambi and Kalydeco. In the last reported quarter, international sales and expanded use in children (aged between two and five years) with CF in the United States drove up sales of the drug. However, higher Trikafta sales are likely to have caused sales erosion of Vertex’s other CF drugs and existing combinations | Vertex Pharmaceuticals Incorporated VRTX is anticipated to beat estimates when it reports its third-quarter 2023 results on Nov 6, after market close. Factors to Consider Vertex markets four cystic fibrosis (CF) products — Trikafta/Kaftrio, Symdeko (marketed as Symkevi in Europe), Orkambi and Kalydeco. The company’s revenue growth in third-quarter 2023 is likely to have been driven by the rapid uptake of its blockbuster CF medicine, Trikafta/Kaftrio (Trikafta’s brand name in Europe). |
35524.0 | 2023-10-30 00:00:00 UTC | Henry Schein (HSIC) Set to Post Q3 Earnings: What Awaits? | ACAD | https://www.nasdaq.com/articles/henry-schein-hsic-set-to-post-q3-earnings%3A-what-awaits | nan | nan | Henry Schein, Inc. HSIC is expected to release third-quarter 2023 results soon.
The company posted adjusted earnings per share (EPS) of $1.31 in the last reported quarter, which surpassed the Zacks Consensus Estimate by 4.8%. Henry Schein beat earnings estimates in two of the trailing four quarters, missed once and was break-even in one quarter, the average surprise being 0.82%.
Let’s see how things have shaped up prior to this announcement.
Factors at Play
In the third quarter of 2023, we expect Henry Schein to have continued to progress in the 2022-2024 BOLD+1 Strategic Plan, which calls for the company to focus on internal growth and business development activities on high-growth, high-margin opportunities, particularly with innovative products and services.
Similar to the last reported quarter, the fundamentals of Henry Schein’s core business are likely to have remained solid. The sales growth of the North American Dental business is likely to have been driven by equipment and general merchandise sales. The demand environment for dental services is expected to have sustained as Henry Schein’s customers continue investing in their practices.
Henry Schein, Inc. Price and EPS Surprise
Henry Schein, Inc. price-eps-surprise | Henry Schein, Inc. Quote
In the third quarter of 2023, dental equipment sales in North America are likely to have been supported by a steady equipment backlog. The company is likely to have witnessed strong sales from traditional equipment, while digital equipment sales, which returned to growth last quarter, are also likely to have contributed. Meanwhile, the international equipment market is likely to have progressed in returning to pre-pandemic levels.
Within Henry Schein’s Dental Specialty business, we expect sales of dental implants and biomaterials are likely to have been key growth drivers. Similar to the last reported quarter, the endodontic business is expected to have complemented business growth, driven by the Brasseler and Edge brands in both North America and internationally.
The Orthodontic business is likely to have benefited from the steady progress in the clear aligner business despite being a relatively small component of global revenues. Henry Schein has been witnessing an increase in dental specialty practices being acquired by DSOs (Dental Service Organizations).
In addition, implant sales growth in North America is likely to have increased with the combined Biohorizons Camlog premium product line, which showed a sequential improvement in the second quarter with mid-single-digit growth. Further, sales of the product line offered by Medentis and bone regeneration materials are likely to reflect the demand for value-priced products in the to-be-reported quarter. Across international regions, we expect the demand for implant systems to have remained stable.
In April 2023, Henry Schein closed the Biotech Dental transaction, bringing its comprehensive, integrated suite of planning and diagnostic software to the company’s existing portfolio of digital dental solutions, as well as the fast-growing portfolio of implants and clear aligners. The company also highlighted its entry into the Brazilian implant market with the acquisition of S.I.N. Implant Systems business, having served dental practitioners in the country since 2014.
Biotech and S.I.N. deals provide a competitive advantage to Henry Schein in the implant and bone regeneration space, including the opportunity to expand their cost-competitive products to other geographies, including the United States. HSIC also became a majority investor in Large Practice Sales LLC — a leading advisor to independent dental practices on their sale or partnerships with larger general practice and dental specialists. All these strategic developments are likely to have favored the company’s top line in the third quarter of 2023.
On the medical business side, we also expect the business to have given a decent performance in the third quarter, excluding the sales of PPE products and COVID-19 test kits. Henry Schein’s recent announcement to acquire a majority stake in Shield Healthcare, Inc. represents a further investment in the homecare medical supplies market, delivering products directly to patients in their homes.
Per our model, projected global revenues from the Healthcare distribution segment (comprising the global dental and medical businesses) for the third quarter of 2023 stand at $3.01 billion, suggesting an increase of 4.2% from the prior-year reported figure.
Within the technology and value-added services business, the largest component — Henry Schein One — is likely to have delivered another solid quarter. The ongoing migration to cloud-based practice management software solutions, Dentrix Ascend and Dentally, is likely to have driven the segment’s performance and growth in the revenue cycle management business, resulting from increased patient traffic driving a higher volume of e-claims.
Apart from Henry Schein One’s technology solutions, the company currently offers a broad range of value-added services through its businesses, such as eAssist — which provides revenue cycle management — and Unitas, which offers advice on PPO agreements with insurance providers, along with other services such as financial services, practice transitions, staffing services, education and remote patient monitoring for office-based dental and medical practitioners. In the third quarter of 2023, we assume these services to have positively contributed to the company’s top line.
Our model projects global Technology and Value-Added Services business revenues for the third quarter of 2023 to be $187.2 million, suggesting a year-over-year improvement of 6.3%.
Q3 Estimates
The Zacks Consensus Estimate for HSIC’s third quarter 2023 revenues is pegged at $3.20 billion. This suggests an increase of 4.3% from the year-ago reported figure.
The Zacks Consensus Estimate for its third quarter 2023 EPS of $1.33 indicates a year-over-year rise of 15.7%
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, has a higher chance of beating estimates, which is not the case here.
Earnings ESP: Henry Schein has an Earnings ESP of -2.18%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
Insulet PODD has an Earnings ESP of +6.61% and a Zacks Rank #2. The company will release third-quarter 2023 results on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Insulet has a long-term expected earnings growth rate of 35.7%. PODD has an earnings yield of 1.13% against the industry’s -2.58%.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. The company is scheduled to release third-quarter 2023 results on Nov 2.
ACAD has an expected long-term earnings growth rate of 43.4%. In the trailing four quarters, the company delivered an average earnings surprise of 20.33%.
Medpace MEDP currently has an Earnings ESP of +2.29% and a Zacks Rank #2. The company recently released its third-quarter 2023 results on Oct 23.
Medpace has an expected earnings growth rate of 17.9% for the next year. MEDP’s earnings beat estimates in all the trailing four quarters, the average surprise being 14.62%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report Henry Schein, Inc. (HSIC) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Henry Schein, Inc. (HSIC) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Click to get this free report Henry Schein, Inc. (HSIC) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report Henry Schein, Inc. (HSIC) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35525.0 | 2023-10-27 00:00:00 UTC | Incyte (INCY) to Report Q3 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/incyte-incy-to-report-q3-earnings%3A-whats-in-the-cards-0 | nan | nan | Incyte Corporation INCY is scheduled to release third-quarter 2023 results on Oct 31, before the opening bell.
The company's earnings beat estimates in two of the trailing four quarters and missed the same in the other two, delivering an average negative surprise of 13.57%. In the last reported quarter, Incyte came up with an earnings surprise of 13.79%.
Let's see how things might have shaped up for the quarter to be reported.
Factors to Consider
Incyte primarily derives product revenues from sales of its lead drug, Jakafi (ruxolitinib), in the United States and its other marketed drugs.
An increase in sales of Jakafi, a first-in-class JAK1/JAK2 inhibitor in all approved indications (polycythemia vera, myelofibrosis and refractory acute graft-versus-host disease [GvHD]), is likely to have boosted revenues in the third quarter. Sales increased 14% year over year in the last reported quarter. The Zacks Consensus Estimate for Jakafi's sales is pegged at $677 million.
Incyte earns product royalty revenues from Novartis AG NVS for the commercialization of Jakafi in ex-U.S. markets. Novartis licensed ruxolitinib for its development and commercialization outside the United States.
While Incyte markets Jakafi in the United States, Novartis promotes the same drug as Jakavi outside the country. INCY is expected to have received higher royalties from NVS in the to-be-reported quarter on higher Jakavi sales.
Novartis reported strong performance of Jakavi during the third quarter, with sale of the drug witnessing a 9% increase.
Incyte also receives royalties from the sales of Tabrecta (capmatinib), which is approved for the treatment of adult patients with metastatic non-small cell lung cancer. Novartis has exclusive worldwide development and commercialization rights to Tabrecta.
While Jakafi’s sales and royalties are the key catalysts for INCY’s revenue growth, Iclusig’s sales and Olumiant’s royalties from Eli Lilly are also likely to have contributed to Incyte’s top line in the to-be-reported quarter.
Incremental sales from newly approved drugs like Opzelura and Zynyz are expected to have boosted sales in the third quarter. The Zacks Consensus Estimate for Opzelura sales stands at $101 million.
Also, the adoption of other newly approved drugs like Monjuvi and Pemazyre is likely to have bolstered the company’s top-line performance. The Zacks Consensus Estimate for Monjuvi and Pemazyre sales stands at $7.54 million and $23.87 million, respectively.
Shares of Incyte have plunged 32.4% in the year-to-date period compared with the industry’s decline of 22.7%.
Image Source: Zacks Investment Research
Higher research and development expenses, as well as increased selling, and general and administrative costs are likely to have escalated operating expenses in the to-be-reported quarter.
Owing to the strong uptake for Jakafi, INCY raised the sales guidance for the drug during the second quarter. On the upcomingearnings call investor focus is likely to be on whether Incyte raises its guidance again.
Earnings Whisper
Our proven model does not conclusively predict an earnings beat for Incyte this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below.
Earnings ESP: Incyte has an Earnings ESP of -6.92% as the Most Accurate Estimate of $1 per share is lower than the Zacks Consensus Estimate of $1.07. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: Incyte currently carries a Zacks Rank #3.
Incyte Corporation Price and EPS Surprise
Incyte Corporation price-eps-surprise | Incyte Corporation Quote
Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Acadia’s stock has surged 41.3% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. The company delivered an earnings surprise of 20.33%, on average. Acadia will report its third-quarter results on Nov 2.
Vertex Pharmaceuticals Incorporated VRTX has an Earnings ESP of +1.25% and a Zacks Rank #3.
Vertex’s stock has risen 24.6% in the year-to-date period. VRTX beat earnings estimates in each of the last four quarters. The company delivered an earnings surprise of 4.91%, on average. Vertex will report its third-quarter results on Nov 6.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 41.3% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. | Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 41.3% in the year-to-date period. | Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 41.3% in the year-to-date period. | Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 41.3% in the year-to-date period. |
35526.0 | 2023-10-27 00:00:00 UTC | How Much Upside is Left in Acadia (ACAD)? Wall Street Analysts Think 38.62% | ACAD | https://www.nasdaq.com/articles/how-much-upside-is-left-in-acadia-acad-wall-street-analysts-think-38.62-0 | nan | nan | Shares of Acadia Pharmaceuticals (ACAD) have gained 4.5% over the past four weeks to close the last trading session at $22.50, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $31.19 indicates a potential upside of 38.6%.
The mean estimate comprises 16 short-term price targets with a standard deviation of $6.99. While the lowest estimate of $13 indicates a 42.2% decline from the current price level, the most optimistic analyst expects the stock to surge 86.7% to reach $42. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
But, for ACAD, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Here's What You Should Know About Analysts' Price Targets
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in ACAD
Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 9.4%, as four estimates have moved higher compared to no negative revision.
Moreover, ACAD currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, while the consensus price target may not be a reliable indicator of how much ACAD could gain, the direction of price movement it implies does appear to be a good guide.
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ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shares of Acadia Pharmaceuticals (ACAD) have gained 4.5% over the past four weeks to close the last trading session at $22.50, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. But, for ACAD, an impressive average price target is not the only indicator of a potential upside. Here's Why There Could be Plenty of Upside Left in ACAD Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. | Shares of Acadia Pharmaceuticals (ACAD) have gained 4.5% over the past four weeks to close the last trading session at $22.50, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. But, for ACAD, an impressive average price target is not the only indicator of a potential upside. Here's Why There Could be Plenty of Upside Left in ACAD Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. | You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much ACAD could gain, the direction of price movement it implies does appear to be a good guide. Shares of Acadia Pharmaceuticals (ACAD) have gained 4.5% over the past four weeks to close the last trading session at $22.50, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. But, for ACAD, an impressive average price target is not the only indicator of a potential upside. | You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, while the consensus price target may not be a reliable indicator of how much ACAD could gain, the direction of price movement it implies does appear to be a good guide. Shares of Acadia Pharmaceuticals (ACAD) have gained 4.5% over the past four weeks to close the last trading session at $22.50, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. But, for ACAD, an impressive average price target is not the only indicator of a potential upside. |
35527.0 | 2023-10-27 00:00:00 UTC | Hologic (HOLX) to Report Q4 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/hologic-holx-to-report-q4-earnings%3A-whats-in-the-cards-0 | nan | nan | Hologic, Inc. HOLX is slated to report fourth-quarter fiscal 2023 results on Nov 9, after the closing bell.
In the last reported quarter, the company’s earnings of 93 cents per share surpassed the Zacks Consensus Estimate by 5.7%. Its earnings surpassed the consensus estimate in each of the trailing four quarters, the average surprise being 19.32%.
Let’s see how things have shaped up prior to the announcement.
Factors at Play
Diagnostics
In fourth-quarter fiscal 2023, Hologic is expected to have witnessed growth in the Diagnostics business (excluding COVID) from the growing adoption of Panther instruments and an expanded Panther installed base. The company’s expanded global installed base of more than 3,250 Panthers represents the catalyst for the division's sustained growth. The superior workflow of Panther, combined with a broad menu of nearly 20 FDA-approved assays across Panther and Panther Fusion systems, creates tremendous value for customers and differentiates it from competitors. We believe these growth catalysts to have driven the company’s performance in the quarter to be reported.
Molecular Diagnostics is likely to have registered strong growth in the fourth quarter, driven by a combination of both newer assays like BV, CV/TV and contributions from Amgen and HSV, each growing well into the double digits as well as strong growth from the longstanding women's health menu.
Similar to the last reported quarter, the Diagnostics business is expected to decline globally compared with the prior year’s levels due to significantly lower COVID testing.
Per our model, Hologic’s Diagnostic’s business revenues are projected at $488.3 million in Q4, a 6.2% decline year over year.
Breast Health
In the past few quarters, semiconductor chip availability has continued to improve, allowing the delivery of more gantries. Further, exceptional demand for clinically differentiated mammography instruments remains high. We believe these trends to have continued in the fiscal fourth quarter as well.
In the third quarter of fiscal 2023, the Breast Health arm registered strong growth primarily driven by increased volumes of digital mammography systems, especially 3D Dimensions systems and related workstation and workflow products, including software. Further, increased Trident systems unit sales and higher Faxitron breast-conserving surgery products aided growth. The increase in volume was driven by the improvement in supply chain constraints related to electronic components, primarily semiconductor chips. In addition, the company is also witnessing increased sales of its interventional breast solutions products driven by Brevera systems and related needles. We believe these trends will continue through the fiscal fourth quarter as well, thus driving top-line growth.
Hologic, Inc. Price and EPS Surprise
Hologic, Inc. price-eps-surprise | Hologic, Inc. Quote
Per our model, Hologic’s Breast Health’s business revenues are projected at $296.3 million for the fiscal fourth quarter, up 7.7% year over year.
GYN Surgical
Similar to the last reported quarter, Hologic’s GYN Surgical is expected to have registered vital contributions from a hysteroscopic portfolio of MyoSure, the Fluent fluid management system and NovaSure. Through the Acessa and Bolder acquisitions, the company integrated Acessa’s procedure and the Bolder’s advanced vessel sealing portfolio in its product line. Acessa is a unique radio frequency fibroid removal solution forming a new market. With Boulder, the company is entering an underdeveloped market by deploying its large surgical sales force. We believe these strategic efforts to have contributed to the company’s top line in the fiscal fourth quarter.
We note that similar to industry-wide trends, Hologic’s surgical business is likely to have been impacted by staffing shortages, which reduced hospital capacity. Choppy market conditions due to persistent foreign exchange impact are a concern. Moreover, Hologic’s mammography, related products and subsystems compete on a worldwide basis with products offered by a number of competitors, which is expected to have impacted the company’s sales in the quarter to be reported.
Per our model, Hologic’s GYN Surgical’s business revenues are projected at $129.7 million in the said quarter, suggesting a 4.7% decline year over year.
The Estimate Picture
The Zacks Consensus Estimate for total fiscal fourth-quarter revenues of $941.4 million suggests a decline of 1.3% from the prior-year quarter’s figure.
The consensus estimate for earnings per share is pegged at 85 cents, indicating a rise of 3.7% from the year-ago reported figure.
What Our Model Suggests
Our proven model does not conclusively predict an earnings beat for Hologic this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here.
Earnings ESP: Hologic has an Earnings ESP of +1.35%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Hologic currently carries a Zacks Rank #4 (Sell).
Stocks Worth a Look
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this quarter.
Insulet PODD has an Earnings ESP of +6.61% and a Zacks Rank #2. The company will release third-quarter 2023 results on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Insulet has a long-term expected earnings growth rate of 35.7%. PODD has an earnings yield of 1.13% against the industry’s -2.58%.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. The company is scheduled to release third-quarter 2023 results on Nov 2.
ACAD has an expected long-term earnings growth rate of 43.4%. In the trailing four quarters, the company delivered an average earnings surprise of 20.33%.
Dentsply Sirona XRAY currently has an Earnings ESP of +1.85% and a Zacks Rank #2. The company is scheduled to release its third-quarter 2023 results on Nov 2.
Dentsply Sirona has an expected earnings growth rate of 14.7% for the following year. XRAY’s earnings beat estimates in three of the trailing four quarters, the average surprise being 12.51%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report Hologic, Inc. (HOLX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report Hologic, Inc. (HOLX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report Hologic, Inc. (HOLX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report Hologic, Inc. (HOLX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35528.0 | 2023-10-27 00:00:00 UTC | Regeneron (REGN) to Report Q3 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/regeneron-regn-to-report-q3-earnings%3A-whats-in-the-cards | nan | nan | Regeneron Pharmaceuticals, Inc. REGN is scheduled to release third-quarter 2023 results on Nov 2, before the opening bell.
The company has an impressive track record, with an earnings streak in all the past four quarters. In the last reported quarter, it beat earnings expectations by 3.23%. REGN surpassed earnings estimates by 14.23%, on average, in all the trailing four quarters.
Regeneron Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Regeneron Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Regeneron Pharmaceuticals, Inc. Quote
Factors at Play
A major chunk of Regeneron’s revenues come from the sales of its lead drug, Eylea, which is approved for various ophthalmology indications (neovascular age-related macular degeneration, diabetic macular edema [“DME”] and macular edema, among others). Eylea was developed in collaboration with Bayer AG.
Regeneron records net product sales of Eylea in the United States, while Bayer records net product sales of the drug outside the country. Regeneron also records its share of profits/losses in connection with sales of Eylea outside the United States.
However, Eylea’s sales have been under pressure in the last few quarters due to competition from Avastin, Vabysmo and sale deductions. The third quarter is likely to have seen the same trend. The Zacks Consensus Estimate for Eylea’s sales in the United States is pegged at $1.55 billion.
In August 2023, the FDA finally approved aflibercept 8 mg for the treatment of patients with wet age-related macular degeneration, DME and diabetic retinopathy under the brand name Eylea HD.
Incremental revenues from Eylea HD have most likely boosted sales.
Apart from Eylea, investors will focus on the asthma drug Dupixent’s performance, sales of which are recorded by Sanofi SNY. Regeneron has a collaboration agreement with Sanofi for drugs like Dupixent and Kevzara. While Sanofi records sales, Regeneron records its share of profits/losses in connection with the global sales of Dupixent and Kevzara. Profits from Dupixent sales have been REGN’s primary growth driver in the last few quarters.
Sales of Dupixent were up 32.8% in the third quarter, as recorded by Sanofi and hence Regeneron is likely to have recorded incremental profits in the yet-to-be-reported quarter.
Dupixent has maintained its stellar performance, driven by continued strong demand in the approved indications, atopic dermatitis, asthma, chronic rhinosinusitis with nasal polyposis, eosinophilic esophagitis and prurigo nodularis. The label expansion of the drug in the past few months has boosted sales further and is likely to have resulted in incremental revenues for Regeneron in the second quarter.
Investors will focus on the performance of Libtayo and the PCSK9 inhibitor Praluent. Effective Jul 1, 2022, Regeneron records net product sales of Libtayo and pays Sanofi a royalty on such sales. Increased sales of Libtayo for indications of non-melanoma skin cancer and strong growth in lung cancer have most likely boosted the top line. The Zacks Consensus Estimate for Libtayo’s sales is pegged at $216 million.
Regeneron records net product sales of Praluent in the United States. Sanofi records net product sales of the drug outside the United States and pays Regeneron a royalty on such sales.
Recent Updates
The FDA approved pozelimab-bbfg for the treatment of adult and pediatric patients 1 year of age and older with CHAPLE disease, also known as CD55-deficient protein-losing enteropathy. The candidate has been approved under the brand name Veopoz. Per Regeneron, Veopoz is the first and only treatment indicated specifically for CHAPLE, an ultra-rare hereditary disease that can cause potentially life-threatening gastrointestinal and cardiovascular symptoms.
In September, Regeneron acquired Decibel Therapeutics, Inc., strengthening the company’s gene therapy and auditory programs. The most advanced pipeline candidate is DB-OTO, which is currently being studied in the global phase I/II CHORD study. DB-OTO is an investigational cell-selective, adeno-associated virus gene therapy designed to provide durable, physiological hearing to individuals with profound, congenital hearing loss caused by mutations of the otoferlin gene. Preclinical programs include AAV.103 for people with GJB2-related hearing loss and AAV.104 for people with stereocilin-related hearing loss.
Share Price Performance
Regeneron’s shares have gained 9.8% year-to-date against the industry’s decline of 22.7%.
Image Source: Zacks Investment Research
What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for Regeneron this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: Earnings ESP for REGN is -2.39% as the Zacks Consensus Estimate is currently pinned at $10.70 per share and the Most Accurate Estimate is pegged at $10.45 per share. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are some drug/biotech stocks that you may want to consider, as our model shows that they have the right combination of elements to post an earnings beat this season.
Ligand Pharmaceuticals LGND has an Earnings ESP of +2.94% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
LGND topped earnings estimates in three of the last four quarters and missed in the remaining one, with an earnings surprise of 52.47%, on average. Ligand is scheduled to release third-quarter 2023 results on Nov 6.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2.
Acadia beat earnings estimates in two of the trailing four quarters and missed in the remaining two. ACAD delivered an earnings surprise of 20.33%, on average. Year-to-date, shares of Acadia have gained 41.3%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Regeneron Pharmaceuticals, Inc. (REGN) : Free Stock Analysis Report
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Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia beat earnings estimates in two of the trailing four quarters and missed in the remaining two. ACAD delivered an earnings surprise of 20.33%, on average. | Click to get this free report Regeneron Pharmaceuticals, Inc. (REGN) : Free Stock Analysis Report Sanofi (SNY) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia beat earnings estimates in two of the trailing four quarters and missed in the remaining two. | Click to get this free report Regeneron Pharmaceuticals, Inc. (REGN) : Free Stock Analysis Report Sanofi (SNY) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia beat earnings estimates in two of the trailing four quarters and missed in the remaining two. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia beat earnings estimates in two of the trailing four quarters and missed in the remaining two. ACAD delivered an earnings surprise of 20.33%, on average. |
35529.0 | 2023-10-26 00:00:00 UTC | Notable Thursday Option Activity: CAVA, ACAD, PRGS | ACAD | https://www.nasdaq.com/articles/notable-thursday-option-activity%3A-cava-acad-prgs | nan | nan | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in CAVA Group Inc (Symbol: CAVA), where a total of 6,429 contracts have traded so far, representing approximately 642,900 underlying shares. That amounts to about 52.7% of CAVA's average daily trading volume over the past month of 1.2 million shares. Especially high volume was seen for the $45 strike put option expiring December 15, 2023, with 1,819 contracts trading so far today, representing approximately 181,900 underlying shares of CAVA. Below is a chart showing CAVA's trailing twelve month trading history, with the $45 strike highlighted in orange:
Acadia Pharmaceuticals Inc (Symbol: ACAD) saw options trading volume of 9,518 contracts, representing approximately 951,800 underlying shares or approximately 51.9% of ACAD's average daily trading volume over the past month, of 1.8 million shares. Especially high volume was seen for the $23 strike call option expiring November 17, 2023, with 5,579 contracts trading so far today, representing approximately 557,900 underlying shares of ACAD. Below is a chart showing ACAD's trailing twelve month trading history, with the $23 strike highlighted in orange:
And Progress Software Corp (Symbol: PRGS) options are showing a volume of 1,722 contracts thus far today. That number of contracts represents approximately 172,200 underlying shares, working out to a sizeable 48.9% of PRGS's average daily trading volume over the past month, of 352,430 shares. Particularly high volume was seen for the $50 strike put option expiring December 15, 2023, with 1,021 contracts trading so far today, representing approximately 102,100 underlying shares of PRGS. Below is a chart showing PRGS's trailing twelve month trading history, with the $50 strike highlighted in orange:
For the various different available expirations for CAVA options, ACAD options, or PRGS options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
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BBCP Insider Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Especially high volume was seen for the $23 strike call option expiring November 17, 2023, with 5,579 contracts trading so far today, representing approximately 557,900 underlying shares of ACAD. Below is a chart showing CAVA's trailing twelve month trading history, with the $45 strike highlighted in orange: Acadia Pharmaceuticals Inc (Symbol: ACAD) saw options trading volume of 9,518 contracts, representing approximately 951,800 underlying shares or approximately 51.9% of ACAD's average daily trading volume over the past month, of 1.8 million shares. Below is a chart showing ACAD's trailing twelve month trading history, with the $23 strike highlighted in orange: And Progress Software Corp (Symbol: PRGS) options are showing a volume of 1,722 contracts thus far today. | Below is a chart showing CAVA's trailing twelve month trading history, with the $45 strike highlighted in orange: Acadia Pharmaceuticals Inc (Symbol: ACAD) saw options trading volume of 9,518 contracts, representing approximately 951,800 underlying shares or approximately 51.9% of ACAD's average daily trading volume over the past month, of 1.8 million shares. Especially high volume was seen for the $23 strike call option expiring November 17, 2023, with 5,579 contracts trading so far today, representing approximately 557,900 underlying shares of ACAD. Below is a chart showing ACAD's trailing twelve month trading history, with the $23 strike highlighted in orange: And Progress Software Corp (Symbol: PRGS) options are showing a volume of 1,722 contracts thus far today. | Below is a chart showing CAVA's trailing twelve month trading history, with the $45 strike highlighted in orange: Acadia Pharmaceuticals Inc (Symbol: ACAD) saw options trading volume of 9,518 contracts, representing approximately 951,800 underlying shares or approximately 51.9% of ACAD's average daily trading volume over the past month, of 1.8 million shares. Especially high volume was seen for the $23 strike call option expiring November 17, 2023, with 5,579 contracts trading so far today, representing approximately 557,900 underlying shares of ACAD. Below is a chart showing ACAD's trailing twelve month trading history, with the $23 strike highlighted in orange: And Progress Software Corp (Symbol: PRGS) options are showing a volume of 1,722 contracts thus far today. | Below is a chart showing CAVA's trailing twelve month trading history, with the $45 strike highlighted in orange: Acadia Pharmaceuticals Inc (Symbol: ACAD) saw options trading volume of 9,518 contracts, representing approximately 951,800 underlying shares or approximately 51.9% of ACAD's average daily trading volume over the past month, of 1.8 million shares. Below is a chart showing PRGS's trailing twelve month trading history, with the $50 strike highlighted in orange: For the various different available expirations for CAVA options, ACAD options, or PRGS options, visit StockOptionsChannel.com. Especially high volume was seen for the $23 strike call option expiring November 17, 2023, with 5,579 contracts trading so far today, representing approximately 557,900 underlying shares of ACAD. |
35530.0 | 2023-10-26 00:00:00 UTC | Bristol-Myers (BMY) Q3 Earnings & Sales Beat, Opdivo Sales Grow | ACAD | https://www.nasdaq.com/articles/bristol-myers-bmy-q3-earnings-sales-beat-opdivo-sales-grow | nan | nan | Bristol-Myers Squibb Company BMY reported better-than-expected results for the third quarter of 2023 and updated its annual outlook for earnings. The company reported adjusted earnings per share of $2, which beat the Zacks Consensus Estimate of $1.76. In the year-ago quarter, BMY posted adjusted earnings per share of $1.99.
Total revenues of $10.97 billion surpassed the Zacks Consensus Estimate of $10.94 billion. However, revenues decreased by 2% from the year-ago period due to generic competition for the multiple myeloma (“MM”) drug Revlimid, partially offset by in-line products (primarily Opdivo) and new product portfolios (primarily Opdualag, Reblozyl and Zeposia).
The company’s shares have lost 21.3% year to date compared with the industry's decline of 22.7%.
Image Source: Zacks Investment Research
BMY stated that it now expects its current new-product portfolio to generate $10 billion in revenues by 2026. The company had earlier expected the same by 2025. Shares are trading down post-earnings release as investors are disappointed with the delay in the time frame by a year.
Quarterly Details
Revenues decreased 4% to $7.6 billion in the United States due to lower sales of Revlimid because of generic erosion and an increase in the number of patients receiving free drug products for Revlimid and, to a lesser extent, Pomalyst, from the company’s patient assistance program. International revenues increased by 2% to $3.3 billion. International revenues increased 1%, primarily due to Opdivo and the new product portfolio, partially offset by lower average net selling prices.
Revenues from in-line and new product portfolios increased by 8% to $9.3 billion.
Total in-line product revenues came in at $8.3 billion. Within this segment, Eliquis’ sales were up 2% to $2.7 billion but missed both the Zacks Consensus Estimate and our model estimate of $2.8 billion. Sales in the United States increased 4% to $1.8 billion. Revenues in international markets declined 2% to $906 million, primarily driven by generic erosion in Canada and the U.K.
Bristol-Myers has a collaboration agreement with Pfizer for Eliquis. The companies collaborated in 2007. Profits and losses are shared equally on a global basis, except in certain countries where Pfizer commercializes Eliquis and pays BMY a sales-based fee.
Sales of the immuno-oncology drug Opdivo, approved for multiple cancer indications, were up 11% year over year to $2.3 billion, beating the Zacks Consensus Estimate by 0.16% and our estimate of $2.2 billion. Sales in the United States grew by 9%. Revenues in the international markets were up 15%, driven by higher demand due to launches in additional indications and growth in core indications.
Another MM drug, Pomalyst, generated sales of $872 million, down 2% year over year.
Sales of the rheumatoid arthritis drug Orencia increased 5% to $925 million.
Leukemia drug Sprycel generated sales of $517 million, down 8% year over year due to a 30% decline in international sales.
Melanoma drug Yervoy contributed $579 million to the top line, up 11% year over year.
New product portfolio revenues were $928 million, up 68% year over year, driven by higher demand for Reblozyl (up 31% to $248 million), Abecma ($93 million), Opdualag ($166 million), Breyanzi ($92 million) and Zeposia ($123 million).
However, Revlimid revenues declined 41% to $1.4 billion from the year-ago quarter due to lower demand due to generic erosion. Revenues surpassed the Zacks Consensus Estimate and our estimate of $1.2 billion. Abraxane revenues were up 47% to $260 million.
Adjusted research and development expenses decreased by 4% to $2.2 billion in the quarter. Adjusted marketing, selling and administrative expenses increased by 4%. Gross margin fell to 77.3% from 79.8% in the quarter.
2023 Guidance Updated
Bristol-Myers expects adjusted earnings of $7.50-$7.65 per share in 2023 (previous guidance: $7.35 - $7.65). Revenues are still anticipated to decrease in low single digits. Revlimid sales are expected to reach $6 billion (previous guidance: $5.5 billion).
In August, BMY entered accelerated share repurchase agreements to repurchase, in aggregate, $4 billion of Bristol Myers Squibb’s common stock. The company anticipates that the final settlement of these transactions will occur during the fourth quarter of 2023.
Mirati Acquisition
BMY announced that it will acquire commercial-stage oncology company Mirati Therapeutics, Inc. MRTX for $58.00 per share in cash, amounting to a total equity value of $4.8 billion. In addition to cash, each Mirati stockholder will receive one non-tradeable Contingent Value Right for each share held. This, in turn, will entitle its holder to receive a one-time potential payment of $12.00 in cash, for a total value of approximately $1.0 billion.
The payment is contingent upon a potential FDA acceptance of a new drug application for MRTX1719 for treating either locally advanced or metastatic non-small cell lung cancer in patients who have received no more than two prior lines of systemic therapy within seven years after the merger's closing.
The acquisition will be completed by the first half of 2024, subject to the receipt of required regulatory approvals. The transaction is expected to dilute Bristol Myers’ bottom line (non-GAAP) by approximately $0.35 per share in the first 12 months after closing.
Our Take
Bristol-Myers reported better-than-expected third-quarter results. However, BMY stated that it now expects its current new-product portfolio to generate $10 billion in revenues by 2026. The company had earlier expected the same by 2025.
Zacks Rank & Stocks to Consider
Bristol-Myers currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. DVAX currently sports a Zacks Rank #1 (Strong Buy) and ACAD carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimate for Dynavax for 2023 has narrowed to a loss of 22 cents per share from a loss of 51 cents in the past 90 days. Earnings estimate for 2024 is pinned at 8 cents per share in the same time frame.
Estimate for Acadia for 2023 have narrowed to a loss of 37 cents per share from a loss of 41 cents in the past 60 days. Earnings estimate for 2024 is pegged at 68 cents per share in the same time frame. The stock has improved 41.8% year to date.
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Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report
Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
Mirati Therapeutics, Inc. (MRTX) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. DVAX currently sports a Zacks Rank #1 (Strong Buy) and ACAD carries a Zacks Rank #2 (Buy). Estimate for Acadia for 2023 have narrowed to a loss of 37 cents per share from a loss of 41 cents in the past 60 days. | Click to get this free report Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Mirati Therapeutics, Inc. (MRTX) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. DVAX currently sports a Zacks Rank #1 (Strong Buy) and ACAD carries a Zacks Rank #2 (Buy). | Click to get this free report Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Mirati Therapeutics, Inc. (MRTX) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. DVAX currently sports a Zacks Rank #1 (Strong Buy) and ACAD carries a Zacks Rank #2 (Buy). | A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. DVAX currently sports a Zacks Rank #1 (Strong Buy) and ACAD carries a Zacks Rank #2 (Buy). Estimate for Acadia for 2023 have narrowed to a loss of 37 cents per share from a loss of 41 cents in the past 60 days. |
35531.0 | 2023-10-26 00:00:00 UTC | Zoetis (ZTS) to Report Q3 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/zoetis-zts-to-report-q3-earnings%3A-whats-in-the-cards | nan | nan | Zoetis Inc. ZTS is scheduled to report third-quarter 2023 results on Nov 2, before market open.
Zoetis has a mixed earnings surprise history. The bottom line surpassed estimates in two of the trailing four quarters, missed in one and met in the other. The company delivered an average earnings surprise of 1.89% in the same time frame.
Shares of ZTS have gained 11.7% in the year-to-date period against the industry’s 14.3% fall.
Image Source: Zacks Investment Research
Let's see how things might have shaped up in the to-be-reported quarter.
Factors to Consider
The veterinary drugmaker derives most of its revenues from a diversified product portfolio of medicines and vaccines used to treat and protect livestock and companion animals. Zoetis’ remaining revenues are derived from its non-pharmaceutical product categories, such as nutritional and agribusiness, and products and services in biodevices, genetic tests and precision animal health.
The company reports business results under two geographical operating segments — the United States and International.
Third-quarter revenues in the United States segment are likely to have increased from the year-ago quarter, based on the rising sales of livestock products and new approvals. The Zacks Consensus estimate for this segment is pegged at $1.17 billion.
Revenues from the International segment are likely to have increased in the third quarter. The Zacks Consensus estimate for this segment is pinned at $974 million.
In the previous quarter, the increased sales of Zoetis’ key dermatology products, Apoquel and Cytopoint, boosted the sales of its companion animal products in the U.S. region, along with growth in the sales of vaccine portfolio and Solensia, a monoclonal antibody product for osteoarthritis pain in cats. This trend is likely to have continued in the third quarter as well.
In June 2023, the FDA approved Apoquel Chewable tablets in the United States for controlling pruritus related to allergic dermatitis and control of atopic dermatitis in dogs at least 12 months of age. Apoquel chewable marks the first and only chewable treatment for the control of allergic itch and inflammation in dogs in the United States. This is expected to have increased sales of the product in the to-be-reported quarter.
In the second quarter, the increased sales of livestock products (Draxxin and implant product Synovex) and poultry products (vaccine sales and medicated feed additives) also contributed to Zoetis’ U.S. revenues. Sales of these products are expected to have contributed to the company’s revenues in the United States in the upcoming earnings release.
Revenues in the International segment are likely to have been primarily driven by the company’s key companion animal products. These include monoclonal antibody products for osteoarthritis pain like Librela for dogs and Solensia for cats, dermatology products, such as Apoquel and Cytopoint, as well as Zoetis’ new parasiticide products like Revolution/Stronghold and the Simparica Trio.
Growth in ZTS’ livestock product sales and fish portfolio is also expected to have contributed to its International revenues, partially offset by declining swine product sales owing to supply constraints in certain regions.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Zoetis this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Zoetis has an Earnings ESP of 0.00% as both the Zacks Consensus Estimate and the Most Accurate Estimate are currently pegged at $1.35.
Zacks Rank: ZTS currently has a Zacks Rank #3.
Zoetis Inc. Price and Consensus
Zoetis Inc. price-consensus-chart | Zoetis Inc. Quote
Stocks to Consider
Here are some stocks in the same industry that have the right combination of elements to beat on earnings this time around:
bluebird bio BLUE has an Earnings ESP of +2.37% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of bluebird have declined 57.9% year to date. It beat earnings estimates in each of the last four quarters. BLUE has an earnings surprise of 89.60%, on average.
ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2 at present.
ACADIA’s stock has increased 41.9% year to date. It beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. ACAD has an earnings surprise of 20.33%, on average.
Ascendis Pharma ASND has an Earnings ESP of +13.03% and a Zacks Rank #2 at present.
Ascendis’ stock has decreased 29.3% year to date. It beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. ASND has a negative earnings surprise of 8.64%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Zoetis Inc. (ZTS) : Free Stock Analysis Report
bluebird bio, Inc. (BLUE) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
Ascendis Pharma A/S (ASND) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2 at present. ACADIA’s stock has increased 41.9% year to date. ACAD has an earnings surprise of 20.33%, on average. | Click to get this free report Zoetis Inc. (ZTS) : Free Stock Analysis Report bluebird bio, Inc. (BLUE) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Ascendis Pharma A/S (ASND) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2 at present. ACADIA’s stock has increased 41.9% year to date. | Click to get this free report Zoetis Inc. (ZTS) : Free Stock Analysis Report bluebird bio, Inc. (BLUE) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Ascendis Pharma A/S (ASND) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2 at present. ACADIA’s stock has increased 41.9% year to date. | ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2 at present. ACADIA’s stock has increased 41.9% year to date. ACAD has an earnings surprise of 20.33%, on average. |
35532.0 | 2023-10-26 00:00:00 UTC | Acadia Pharmaceuticals (ACAD) Expected to Beat Earnings Estimates: Should You Buy? | ACAD | https://www.nasdaq.com/articles/acadia-pharmaceuticals-acad-expected-to-beat-earnings-estimates%3A-should-you-buy-1 | nan | nan | Acadia Pharmaceuticals (ACAD) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on November 2, 2023, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on theearnings callwill mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus Estimate
This drugmaker is expected to post quarterly loss of $0.43 per share in its upcoming report, which represents a year-over-year change of -152.9%.
Revenues are expected to be $194.43 million, up 48.8% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 9.55% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Acadia?
For Acadia, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +6.76%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination indicates that Acadia will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Acadia would post a loss of $0.12 per share when it actually produced earnings of $0.01, delivering a surprise of +108.33%.
Over the last four quarters, the company has beaten consensus EPS estimates two times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Acadia appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected Results
uniQure (QURE), another stock in the Zacks Medical - Biomedical and Genetics industry, is expected to report earnings per share of $1.49 for the quarter ended September 2023. This estimate points to a year-over-year change of -46.1%. Revenues for the quarter are expected to be $3.33 million, up 129.7% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for uniQure has been revised 1.4% up to the current level. Nevertheless, the company now has an Earnings ESP of 13.90%, reflecting a higher Most Accurate Estimate.
When combined with a Zacks Rank of #2 (Buy), this Earnings ESP indicates that uniQure will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals (ACAD) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2023. How Have the Numbers Shaped Up for Acadia? For Acadia, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. | Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report uniQure N.V. (QURE) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals (ACAD) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2023. How Have the Numbers Shaped Up for Acadia? | For Acadia, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. Acadia Pharmaceuticals (ACAD) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2023. How Have the Numbers Shaped Up for Acadia? | So, this combination indicates that Acadia will most likely beat the consensus EPS estimate. Acadia Pharmaceuticals (ACAD) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2023. How Have the Numbers Shaped Up for Acadia? |
35533.0 | 2023-10-25 00:00:00 UTC | Bioventus (BVS) to Report Q3 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/bioventus-bvs-to-report-q3-earnings%3A-whats-in-the-cards | nan | nan | Bioventus Inc.’s BVS surgical solutions business unit sales are expected to be in focus when the company reports its third-quarter 2023 results.
Bioventus’ earnings beat estimates in one of the trailing four quarters while missing in the remaining three, the average negative surprise being 12.81%. In the last reported quarter, the company came up with an earnings surprise of 366.67%.
Let us see how things have shaped up for the quarter to be reported.
Factors to Note
Bioventus recognizes revenues under the following categories both in the United States and in ex-U.S. markets — pain treatments, restorative therapies and surgical solutions.
In the last reported quarter, the company’s total revenues witnessed a year-over-year decline, a trend that most likely continued in the third quarter. Total revenues did not include sales from the divesture of the Wound Business.
We note that BVS divested its Wound Business unit in May 2023 to enhance the company’s cash position and focus on the remaining business units.
Sales declined year over year at constant currency change in all three business units in the United States, a trend that most likely continued in the third quarter.
In the third quarter, we expect sales of surgical solutions to have risen in ex-U.S. markets.
On the second-quarterearnings call management stated that it expects double-digit growth in surgical solutions sales in the second half of the year.
Sales in the pain treatments unit declined year over year due to continued pricing pressure, while restorative therapies unit sales also fell year over year, driven largely by the divestiture of the Wound Business. It remains to be seen if sales in these units improved in the third quarter.
We expect management to provide a vivid picture of the company’s 2023 financial guidance for net sales on the upcomingearnings call The Zacks Consensus Estimate for total revenues in the to-be-reported quarter is pegged at $120.34 million.
Shares of Bioventus have rallied 23% so far this year against the industry’s decline of 16.1%.
Image Source: Zacks Investment Research
Earnings Whisper
Our proven model does not conclusively predict an earnings beat for Bioventus this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Bioventus has an Earnings ESP of 0.00% as the Zacks Consensus Estimate and the Most Accurate Estimate stand at earnings of 6 cents each.
Zacks Rank: BVS currently carries a Zacks Rank #2.
Bioventus Inc. Price and EPS Surprise
Bioventus Inc. price-eps-surprise | Bioventus Inc. Quote
Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these too have the right combination of elements to beat on earnings this reporting cycle.
Apellis Pharmaceuticals, Inc. APLS has an Earnings ESP of +5.75% and a Zacks Rank #1.
Apellis’ stock has lost 5.3% in the year-to-date period. APLS beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. Apellis delivered an earnings surprise of 1.36%, on average.
Vertex Pharmaceuticals Incorporated VRTX has an Earnings ESP of +1.25% and a Zacks Rank #3.
Vertex’s stock has increased 27.9% in the year-to-date period. VRTX beat earnings estimates in each of the last four quarters. The company delivered an earnings surprise of 4.91%, on average. Vertex will report its third-quarter results on Nov 6.
Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2.
Acadia’s stock has surged 44.3% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. The company delivered an earnings surprise of 20.33%, on average. Acadia will report its third-quarter results on Nov 2.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 44.3% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. | Click to get this free report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report Bioventus Inc. (BVS) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 44.3% in the year-to-date period. | Click to get this free report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report Bioventus Inc. (BVS) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 44.3% in the year-to-date period. | Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 44.3% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. |
35534.0 | 2023-10-24 00:00:00 UTC | Novartis (NVS) Tops Q3 Earnings, Ups Operating Income View | ACAD | https://www.nasdaq.com/articles/novartis-nvs-tops-q3-earnings-ups-operating-income-view | nan | nan | Swiss pharma giant Novartis AG NVS reported strong sales from key drugs in third-quarter 2023 and raised its guidance for core operating income. Core earnings (excluding one-time charges) of $1.74 per share beat the Zacks Consensus Estimate of $1.70. The figure was also up from $1.40 a year ago.
Revenues of $11.8 billion climbed 12% from the year-ago quarter. On a constant currency basis, sales improved 12% as well driven by momentum in Entresto, Kesimpta, Kisqali, Scemblix and the strong uptake of radioligand therapy, Pluvicto.
Shares of Novartis have gained 4.4% year to date compared with the industry’s growth of 4.2%.
Image Source: Zacks Investment Research
Earlier in the month, Novartis completed the spin-off of its generic and biosimilar unit, Sandoz, following which Sandoz became an independent company.
Quarter in Detail
All growth rates mentioned below are on a year-over-year basis and at constant exchange rates.
With the successful spin-off of the Sandoz business, Novartis operates as a single global operating segment, being a focused, innovative medicines company. It is now concentrating on four core therapeutic areas (cardiovascular, renal and metabolic; immunology; neuroscience and oncology).
Entresto’s sales gained 31% from the year-ago quarter to $1.48 billion due to sustained, robust demand-led growth boosted by adopting guideline-directed medical therapy across regions. Yet, Entresto’s sales missed the Zacks Consensus Estimate of $1.53 billion and our estimate of $1.5 billion.
Kesimpta (multiple sclerosis) sales came in at $657 million, surging 124% on increased demand and strong access, and benefiting from a one-time revenue deduction adjustment in Europe. Sales beat both the Zacks Consensus Estimate and our estimate of $531 million.
Kisqali’s stellar performance continued, with sales soaring 76% to $562 million. The figure outshined the Zacks Consensus Estimate of $530 million and grew strongly across all regions on the back of increasing recognition of consistent overall survival and quality of life benefits. Kisqali sales also beat our estimate of $528.6 million.
Cosentyx’s sales improved by 4% to $1.3 billion, given the continued demand growth across key regions partly offset by US revenue deduction fluctuations across periods. Sales surpassed the Zacks Consensus Estimate of $1.3 billion and our estimate of $1.29 billion.
Strong performances by Jakavi (up 9% to $427 million), Promacta/Revolade (up 10% to $576 million) and Tafinlar + Mekinist (up 8% to $482 million) also boosted the top line.
Pluvicto raked in sales of $256 million on the back of a solid launch in the United States. Novartis received approval for Pluvicto's expanded manufacturing capacity in the second quarter at Millburn, NJ, and demand picked up.
Xolair sales grew 13% year over year to $369 million. Novartis has a collaboration agreement with Roche RHHBY for Xolair. Novartis and Roche co-promote Xolair in the United States.
Scemblix generated sales of $106 million driven by sales growth across all regions.
However, generic competition affected sales, mainly for Gleevec/Glivec (down 19% to $144 million) and Gilenya (declined 47% to $270 million). Also, Lucentis’ sales plunged 20% to $363 million.
The results of the Sandoz division and selected portions of corporate activities attributable to Sandoz business are reported discontinued operations in the third quarter. Discontinued operations net sales were $2.5 billion, up 6% mainly driven by growth outside the United States.
Novartis AG Price, Consensus and EPS Surprise
Novartis AG price-consensus-eps-surprise-chart | Novartis AG Quote
2023 Guidance
Novartis now expects net sales for 2023 to grow in high-single digits.
Core operating income is now projected to grow in mid-to-high teens (previous guidance: low-double digits to mid-teens).
Key Updates
Novartis has appealed to reverse the negative decision of US District Court and to uphold the validity of its combination patent covering Entresto and other combinations of sacubitril and valsartan, which expires in 2025 (with pediatric exclusivity). No generics have tentative or final approval in the United States so far.
Our Take
Novartis’ better-than-expected third-quarter results were driven by strong performance of Kesimpta, Entresto, Kisqali and Pluvicto. Both Scemblix and Pluvicto saw very strong launches and the Leqvio launch continues to progress.
Zacks Rank
Novartis currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. While DVAX currently sports a Zacks Rank #1 (Strong Buy), ACAD carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimate for Dynavax for 2023 has narrowed to a loss of 22 cents per share from a loss of 51 cents in the past 90 days. Earnings estimate for 2024 is pinned at 8 cents per share in the same time frame.
Estimate for Acadia for 2023 have narrowed to a loss of 37 cents per share from a loss of 41 cents in the past 60 days. Earnings estimate for 2024 is pegged at 68 cents per share in the same time frame. The stock has improved 39.9% year to date.
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It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. While DVAX currently sports a Zacks Rank #1 (Strong Buy), ACAD carries a Zacks Rank #2 (Buy). Estimate for Acadia for 2023 have narrowed to a loss of 37 cents per share from a loss of 41 cents in the past 60 days. | While DVAX currently sports a Zacks Rank #1 (Strong Buy), ACAD carries a Zacks Rank #2 (Buy). Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Stocks to Consider A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. | Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Stocks to Consider A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. While DVAX currently sports a Zacks Rank #1 (Strong Buy), ACAD carries a Zacks Rank #2 (Buy). | Stocks to Consider A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. While DVAX currently sports a Zacks Rank #1 (Strong Buy), ACAD carries a Zacks Rank #2 (Buy). Estimate for Acadia for 2023 have narrowed to a loss of 37 cents per share from a loss of 41 cents in the past 60 days. |
35535.0 | 2023-10-24 00:00:00 UTC | InMode (INMD) to Post Q3 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/inmode-inmd-to-post-q3-earnings%3A-whats-in-the-cards | nan | nan | InMode INMD is scheduled to report third-quarter 2023 results on Nov 2, before market open.
In the last reported quarter, the company’s adjusted earnings per share of 72 cents surpassed the Zacks Consensus Estimate by 2.9%.
Let’s take a look at how things have shaped up prior to this announcement.
Factors to Note
Similar to the last reported quarter, In Mode is likely to have registered strong growth backed by robust disposable sales. In an update on July 27, the company noted that it had recorded sales of disposables in the second quarter. Sales from its platforms reached over 1,600 units and the number of disposables sold totaled over 270,000. This trend should have been reflected through the third-quarter performance, benefiting the top line.
During the second quarter, INMD established two new subsidiaries, one in Japan and one in Germany. We expect that this ongoing global expansion is likely to have benefited InMode’s third-quarter revenues.
In the third quarter, the company is expected to report strong consumable and service revenues, banking on a strong indication that its platforms are being used more frequently, signifying continued demand and increased brand recognition. In vision, the non-surgical ophthalmic platform is gaining significant traction in North America. The company plans to continue hiring product-specific sales reps to expand penetration into the ophthalmology market. We believe these developments to have contributed significantly to the company’s revenues in the to-be-reported quarter.
InMode Ltd. Price and EPS Surprise
InMode Ltd. price-eps-surprise | InMode Ltd. Quote
The Morpheus8 platform is expected to have gained traction and benefited from the company’s brand ambassadors, strong market awareness and positive patient results.
Overall, a strong commercial performance in the third quarter might have been largely dented by a challenging macroeconomic environment and currency headwinds.
Q3 Estimates
The Zacks Consensus Estimate for the company’s third-quarter 2023 revenues is pegged at $123 million, suggesting a 1.5% year-over-year rise.
The Zacks Consensus Estimate for the company’s third-quarter 2023 earnings per share is 60 cents, indicating a rise of 9.1% from the year-ago reported figure.
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) along with a positive Earnings ESP has higher chances of beating estimates. However, this is not the case here, as you can see:
Earnings ESP: The company has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #5 (Strong Sell).
Stocks Worth a Look
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this quarter.
Insulet PODD has an Earnings ESP of +6.61% and a Zacks Rank #2. The company will release third-quarter 2023 results on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Insulet has a long-term expected earnings growth rate of 35.7%. PODD has an earnings yield of 1.13% against the industry’s -2.58%.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. The company is scheduled to release third-quarter 2023 results on Nov 2.
ACAD has an expected long-term earnings growth rate of 43.4%. In the trailing four quarters, the company delivered an average earnings surprise of 20.33%.
Dentsply Sirona XRAY currently has an Earnings ESP of +1.85% and a Zacks Rank #2. The company is scheduled to release its third-quarter 2023 results on Nov 2.
Dentsply Sirona has an expected earnings growth rate of 14.7% for the next year. XRAY’s earnings beat estimates in three of the trailing four quarters, the average surprise being 12.51%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report InMode Ltd. (INMD) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report InMode Ltd. (INMD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report InMode Ltd. (INMD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report InMode Ltd. (INMD) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35536.0 | 2023-10-24 00:00:00 UTC | CVS Health (CVS) to Report Q3 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/cvs-health-cvs-to-report-q3-earnings%3A-whats-in-the-cards-0 | nan | nan | CVS Health Corporation CVS is scheduled to report third-quarter 2023 results on Nov 1, before the opening bell.
In the last reported quarter, the company’s adjusted earnings of $2.21 exceeded the Zacks Consensus Estimate by 4.3%. The company beat estimates in the trailing four quarters, the average surprise being 4.80%.
Let’s look at how things have shaped for CVS Health before this announcement.
Factors at Play
CVS Health’s newly-formed Pharmacy & Consumer Wellness segment (includes all the company’s omnichannel pharmacy capabilities, legacy retail pharmacy, specialty and mail order pharmacy fulfillment and infusion services along with CVS Health’s front store offerings) is likely to have benefited from increased prescription and front store volume, similar to the second quarter of 2023. The company’s efforts to provide a differentiated omnichannel pharmacy experience will likely have aided third-quarter performance.
CVS Health has been making noteworthy progress in expanding access to care through digital and virtual channels. During the second quarter of 2023, CVS Health’s unique digital customers increased to more than 53 million. The company’s digital sales increased 24% versus the prior year, including a meaningful increase of 65% in its over-the-counter health solution offering. We expect these developments to have benefited the company’s third-quarter 2023 revenues significantly.
The company also launched various new MinuteClinic virtual care services to support women's health that will be available 24/7. CVS Health’s continued efforts to expand digital health services and deepen engagement through personalization are expected to have broadened its customer base in the third quarter, thus adding to its top line.
However, challenging market conditions and normalizing COVID trends might have dented growth within the segment in the soon-to-be-reported quarter.
Per our model, this segment is expected to report 6.9% year-over-year revenue growth this time around.
The Health Services segment (which includes most of the operations of the company’s legacy Pharmacy Services segment and its healthcare delivery operations) is expected to have recorded robust sales growth, banking on the pharmacy services business. The company's consistent demonstration of its value to consumers and clients by successfully managing drug cost trends and bringing innovative clinical solutions to the market are likely to have benefited CVS Health's third-quarter revenues.
Also, growth in specialty pharmacy and brand inflation is likely to have contributed to the pharmacy services arm. We are also positive about the company’s newly developed comprehensive programs to manage specialty trends, including a formulary exclusion strategy.
Within Health Service, Signify Health and Oak Street Health continue to deliver strong business performance consistent with expectations. These assets bring core capabilities to the multi-payor value-based care platform that drives optimal patient engagement with health services across multiple channels. CVS Health introduced new member engagement programs at a few CVS pharmacies to encourage IET conversion of Aetna Medicare subscribers and CVS pharmacy customers to Signify.
CVS Health Corporation Price and EPS Surprise
CVS Health Corporation price-eps-surprise | CVS Health Corporation Quote
Further, Oak Street is expanding into additional geographies, driving higher patient growth continues to increase. We expect both these acquisitions to benefit CVS Health's performance in Q3.
Our model projects this segment to report a 4.5% year-over-year revenue growth.
The Healthcare Benefits arm is likely to have been driven by sustained membership growth across all product lines. During the second quarter of 2023, medical membership increased by 1.2 million, reflecting improvement across the company’s individual exchange business. We expect this growth momentum to have continued. CVS Health’s competitive cost structure, integrated benefit designs and innovative product portfolio are likely to have aided growth of the healthcare benefits business.
In the second quarter, branded drug revenues increased in part, driven by the GLC1 category. This expensive and fast-growing category presents new choices for the over 70 million adults in the U.S. who are living with obesity and the nearly 37 million people who have Type 2 diabetes. We believe this trend to have continued through third quarter as well, thus adding to the top line.
Our model projects this segment to report 13.7% year-over-year revenue growth in the second quarter.
Key Q3 Estimates
The Zacks Consensus Estimate for third-quarter 2023 adjusted earnings of $2.13 per share, suggesting a 1.9% fall from the year-ago reported figure.
The consensus estimate for revenues is pegged at $88.20 billion, calling for a 1.9% rise from the prior-year reported number.
What Our Model Suggests
Our model predicts an earnings beat for CVS Health this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: The company has an Earnings ESP of +0.57%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this quarter.
Insulet PODD has an Earnings ESP of +6.61% and a Zacks Rank #2. The company will release third-quarter 2023 results on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Insulet has a long-term expected earnings growth rate of 35.7%. PODD has an earnings yield of 1.13% against the industry’s -2.58%.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. The company is scheduled to release third-quarter 2023 results on Nov 2.
ACAD has an expected long-term earnings growth rate of 43.4%. In the trailing four quarters, the company delivered an average earnings surprise of 20.33%.
Dentsply Sirona XRAY currently has an Earnings ESP of +1.85% and a Zacks Rank #2. The company is scheduled to release its third-quarter 2023 results on Nov 2.
Dentsply Sirona has an expected earnings growth rate of 14.7% for the next year. XRAY’s earnings beat estimates in three of the trailing four quarters, the average surprise being 12.51%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
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CVS Health Corporation (CVS) : Free Stock Analysis Report
Insulet Corporation (PODD) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report CVS Health Corporation (CVS) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report CVS Health Corporation (CVS) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report CVS Health Corporation (CVS) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report CVS Health Corporation (CVS) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35537.0 | 2023-10-24 00:00:00 UTC | Dynavax (DVAX) to Report Q3 Earnings: Will It Beat Estimates? | ACAD | https://www.nasdaq.com/articles/dynavax-dvax-to-report-q3-earnings%3A-will-it-beat-estimates | nan | nan | We expect Dynavax Technologies Corporation DVAX to beat expectations when it reports third-quarter 2023 results. In the last reported quarter, the company came up with an earnings surprise of 133.33%.
The company’s surprise history has been mixed. Earnings beat estimates in two of the trailing four quarters while missing on the other two occasions, the average surprise being 25.78%.
Shares of Dynavax have rallied 29.8% so far this year against the industry’s decline of 21.7%.
Image Source: Zacks Investment Research
Let’s see how things have shaped up for this announcement.
Factors to Note
Dynavax currently markets two products, a vaccine for hepatitis B called HEPLISAV-B and a CpG 1018 adjuvant, which is used in multiple adjuvanted COVID-19 vaccines.
In the last reported quarter, the company’s top line was driven by the strong sales uptake of HEPLISAV-B, a trend that most likely continued in the third quarter.
HEPLISAV-B sales surged 73% year over year in the last reported quarter, while the vaccine’s market share also increased to approximately 39% during the time. We expect this momentum to have continued in the to-be-reported quarter.
Following the strong HEPLISAV-B performance in the first half of 2023, Dynavax also raised its full-year HEPLISAV-B net product revenue guidance on the second-quarter conference call. On the upcomingearnings call investor focus is likely to be on whether DVAX raises its guidance again.
This apart, Dynavax also has a pipeline of differentiated product candidates that leverage its CpG 1018 adjuvant, which includes a shingles vaccine, Tdap (tetanus, diphtheria, and pertussis) vaccine and plague vaccine.
Owing to the completion of all obligations and product delivery under DVAX’s CpG 1018 adjuvant COVID-19 collaboration agreements, no CpG 1018 adjuvant-related product revenues were recorded in the second quarter of 2023. We expect no CpG 1018 adjuvant revenues in the to-be-reported quarter as well.
Activities related to pipeline development as well as commercial and marketing cost are likely to have escalated Dynavax’s operating expenses in the to-be-reported quarter.
Earnings Whispers
Our proven model predicts an earnings beat for Dynavax in the to-be-reported quarter. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is the case here, as elaborated below.
Earnings ESP: Dynavax’s Earnings ESP is +700.00%. The Most Accurate Estimate stands at an earnings of 4 cents while the Zacks Consensus Estimate is pegged at a loss of 1 cent. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Dynavax has a Zacks Rank #1 currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Dynavax Technologies Corporation Price and EPS Surprise
Dynavax Technologies Corporation price-eps-surprise | Dynavax Technologies Corporation Quote
Other Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these too have the right combination of elements to beat on earnings this reporting cycle.
Apellis Pharmaceuticals, Inc. APLS has an Earnings ESP of +5.75% and a Zacks Rank #1.
Apellis’ stock has lost 12.2% in the year-to-date period. APLS beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. Apellis delivered an earnings surprise of 1.36%, on average.
Vertex Pharmaceuticals Incorporated VRTX has an Earnings ESP of +1.25% and a Zacks Rank #3.
Vertex’s stock has increased 27.3% in the year-to-date period. VRTX beat earnings estimates in each of the last four quarters. The company has delivered an earnings surprise of 4.91%, on average. Vertex will report its third-quarter results on Nov 6.
Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2.
Acadia’s stock has surged 39.9% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. The company delivered an earnings surprise of 20.33%, on average. Acadia will report its third-quarter results on Nov 2.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report
Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 39.9% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. | Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 39.9% in the year-to-date period. | Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 39.9% in the year-to-date period. | Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. Acadia’s stock has surged 39.9% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. |
35538.0 | 2023-10-24 00:00:00 UTC | Femasys (FEMY) to Report Q3 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/femasys-femy-to-report-q3-earnings%3A-whats-in-the-cards | nan | nan | We expect the investors to focus on Femasys’ FEMY product sales numbers when the company reports its third-quarter 2023 financial performance next month.
Femasys is a commercial-stage company with four approved products — FemaSeed (intratubal Insemination), FemVue (contrast generating device), FemCath (selective delivery catheter) and FemCerv (endocervical tissue sampler) — in its portfolio.
Year to date, shares of Femasys have shot up 30% compared with the industry’s 21.7% rise.
Image Source: Zacks Investment Research
Let us see how things have shaped up for the quarter to be reported.
Factors to Consider
Femasys currently recognizes revenues from its three marketed products — FemVue, FemCath and FemCerv.
In the previous quarter, the company’s sales figures increased year over year due to a significant rise in international sales. This trend is expected to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for Femasys’ sales in the third quarter of 2023 is pegged at $0.4 million.
However, sales in the United States declined year over year in the second quarter of 2023. This trend is also likely to have continued in the upcoming quarter.
Research and development costs are also expected to have risen in the to-be-reported quarter on the back of increased compensation to related personnel, professionals and outside consultants.
Sales and marketing expenses have also increased in the third quarter of 2023, as Femasys strives to expand the commercial availability of its marketed products and gears up to launch FemaSeed in the U.S. market.
Other Updates
Femasys received FDA approval for FemaSeed during the third quarter of 2023, which is expected to be commercially available in the United States in 2024. Per the company, FemaSeed is an innovative, less invasive and more affordable first-line treatment option for infertility.
An update regarding the commercial launch plans for FemaSeed is expected in the upcoming earnings release.
The company is also currently supporting an ongoing pivotal clinical study evaluating male factor infertility. An update regarding the late-stage study is also anticipated in the third-quarter earnings call.
FEMY’s clinical pipeline contains another candidate, FemBloc, which is currently being investigated in a pivotal study. The FINALE pivotal study is evaluating the safety and efficacy of FemBloc, a novel, non-surgical female permanent birth control approach.
Last month, the company announced the enrollment of the first patient in the FINALE pivotal study. An update regarding the progress of the study is also expected in the upcoming earnings release.
Earnings Whisper
Our proven model does not conclusively predict an earnings beat for Femasys this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Femasys has an Earnings ESP of 0.00% as the Zacks Consensus Estimate and the Most Accurate Estimate both stand at a loss of 25 cents.
Zacks Rank: FEMY currently carries a Zacks Rank #3.
Femasys Inc. Price and Consensus
Femasys Inc. price-consensus-chart | Femasys Inc. Quote
Stocks to Consider
Here are some stocks in the same industry that have the right combination of elements to beat on earnings this time around:
bluebird bio BLUE has an Earnings ESP of +2.37% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
bluebird’s stock has declined 58.4% year to date. It beat earnings estimates in each of the last four quarters. BLUE has an earnings surprise of 89.60%, on average.
ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2.
ACADIA’s stock has increased 40.1% year to date. It beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. ACAD has an earnings surprise of 20.33%, on average.
Ascendis Pharma ASND has an Earnings ESP of +13.03% and a Zacks Rank #2.
Ascendis’ stock has decreased 28.7% year to date. It beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. ASND has a negative earnings surprise of 8.64%, on average.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
bluebird bio, Inc. (BLUE) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
Ascendis Pharma A/S (ASND) : Free Stock Analysis Report
Femasys Inc. (FEMY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACADIA’s stock has increased 40.1% year to date. ACAD has an earnings surprise of 20.33%, on average. | Click to get this free report bluebird bio, Inc. (BLUE) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Ascendis Pharma A/S (ASND) : Free Stock Analysis Report Femasys Inc. (FEMY) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACADIA’s stock has increased 40.1% year to date. | Click to get this free report bluebird bio, Inc. (BLUE) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Ascendis Pharma A/S (ASND) : Free Stock Analysis Report Femasys Inc. (FEMY) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACADIA’s stock has increased 40.1% year to date. | Click to get this free report bluebird bio, Inc. (BLUE) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Ascendis Pharma A/S (ASND) : Free Stock Analysis Report Femasys Inc. (FEMY) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACADIA’s stock has increased 40.1% year to date. |
35539.0 | 2023-10-23 00:00:00 UTC | Labcorp (LH) to Report Q3 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/labcorp-lh-to-report-q3-earnings%3A-whats-in-the-cards-0 | nan | nan | Laboratory Corporation of America Holdings LH, or Labcorp, is slated to report third-quarter 2023 results on Oct 26 before market open.
In the last reported quarter, the company’s adjusted earnings of $3.42 missed the Zacks Consensus Estimate by 1.44%. The company missed estimates in three of the trailing four quarters and surpassed in one, the average negative surprise being 1.09%.
Factors at Play
Similar to the past few quarters, Labcorp is expected to have witnessed a significant reduction in COVID-19 PCR and antibody testing. This is likely to have hampered Labcorp’s overall sales performance in the to-be-reported quarter. The company expects testing revenues to decline 85%-89% in the third quarter compared to the reported figure in 2022.
However, the legacy Diagnostics Laboratories business is expected to have witnessed an improved performance, driven by strong base business volumes. The Ascension lab management agreement may have also contributed to the organic growth of the business.
Labcorp Price and EPS Surprise
Labcorp price-eps-surprise | Labcorp Quote
At the end of the second quarter, Labcorp successfully completed the spinoff of its CDCS business, giving rise to two separate independent, publicly traded companies. Fortrea’s spinoff has brought the growth opportunities of Labcorp’s laboratory businesses into full focus. In the third quarter of 2023, the Biopharma Laboratory Services segment is likely to have benefited from the continued industry leadership in the central lab business.
Earlier in April, the company enhanced its central laboratory presence and drug development capabilities in Japan by expanding CB Trial Laboratory, co-managed by Labcorp and BML, a leading Japanese provider of clinical laboratory testing services. Labcorp also opened a new kit production facility in Suzhou and an expanded immunology and immunotoxicology lab in China. These additional footprints are likely to have helped harness the country’s drug development capabilities and eventually benefited LH’s results of operations in the third quarter.
Meanwhile, Labcorp’s pipeline of potential hospital and local laboratory acquisitions is robust. The company has established strategic collaborations with a range of local and regional health systems to enhance laboratory services for patients and providers. The partnership with Jefferson Health — one of the largest health systems serving the Greater Philadelphia area in Southern New Jersey — will focus on future research and innovations to improve health outcomes.
Earlier in July, Labcorp completed the acquisition of certain assets of Enzo Biochem, Inc.’s clinical laboratory division in New Jersey. In Eastern Massachusetts, Labcorp recently expanded diagnostic testing and laboratory services via an agreement with the leading integrated academic health system, Tufts Medicine. We expect all these developments to have positively contributed to Labcorp’s revenues in the third quarter of 2023.
LH is also capitalizing on innovation and technology that supports diagnostic and drug development testing across disease areas, including cancer, Alzheimer’s and other diseases. The launch of the Labcorp Plasma Focus biopsy test has been a critical step in expanding the company’s suite of precision oncology tests. Further, the portfolio of solutions, which the company offers through the acquisition of Personal Genome Diagnostics (PGDx), is expected to continue gaining momentum with major health systems and academic centers in the third quarter of 2023.
Labcorp also offers many of its innovative tests online nationwide through its digital health platform, Labcorp OnDemand. In the second quarter, the company launched an advanced e-commerce platform to improve consumer engagement with the company. We expect Labcorp to continue delivering impactful digital solutions to its customers, aiding business growth in the to-be-reported quarter.
For the third quarter of 2023, our model projects revenues from the Diagnostics Laboratories segment to grow 2.3% year over year to $2.26 billion. The Biopharma Laboratory Services is expected to report revenues of $731.9 million, suggesting an increase of 9.8%.
Q3 Estimates
The Zacks Consensus Estimate for LH’s third-quarter 2023 revenues is pegged at $2.99 billion. This suggests a 17% fall from the year-ago reported figure.
The Zacks Consensus Estimate for its third-quarter 2023 EPS of $3.50 indicates a year-over-year decrease of 25.2%
What Our Model Suggests
Per our proven model, stocks with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, have a higher chance of beating estimates. However, that is not the case here, as you can see below:
Earnings ESP: Labcorp has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter:
Insulet PODD has an Earnings ESP of +6.61% and a Zacks Rank #2. The company will release third-quarter 2023 results on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Insulet has a long-term expected earnings growth rate of 35.7%. PODD has an earnings yield of 1.13% against the industry’s -2.58%.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. The company is scheduled to release third-quarter 2023 results on Nov 2.
ACAD has an expected long-term earnings growth rate of 43.4%. In the trailing four quarters, the company delivered an average earnings surprise of 20.33%.
Dentsply Sirona XRAY currently has an Earnings ESP of +1.85% and a Zacks Rank #2. The company is scheduled to release its third-quarter 2023 results on Nov 2.
Dentsply Sirona has an expected earnings growth rate of 14.7% for the next year. XRAY’s earnings beat estimates in three of the trailing four quarters, the average surprise being 12.51%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
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Labcorp (LH) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In Eastern Massachusetts, Labcorp recently expanded diagnostic testing and laboratory services via an agreement with the leading integrated academic health system, Tufts Medicine. Further, the portfolio of solutions, which the company offers through the acquisition of Personal Genome Diagnostics (PGDx), is expected to continue gaining momentum with major health systems and academic centers in the third quarter of 2023. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. | Click to get this free report Labcorp (LH) : Free Stock Analysis Report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. In Eastern Massachusetts, Labcorp recently expanded diagnostic testing and laboratory services via an agreement with the leading integrated academic health system, Tufts Medicine. Further, the portfolio of solutions, which the company offers through the acquisition of Personal Genome Diagnostics (PGDx), is expected to continue gaining momentum with major health systems and academic centers in the third quarter of 2023. | Click to get this free report Labcorp (LH) : Free Stock Analysis Report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. In Eastern Massachusetts, Labcorp recently expanded diagnostic testing and laboratory services via an agreement with the leading integrated academic health system, Tufts Medicine. Further, the portfolio of solutions, which the company offers through the acquisition of Personal Genome Diagnostics (PGDx), is expected to continue gaining momentum with major health systems and academic centers in the third quarter of 2023. | In Eastern Massachusetts, Labcorp recently expanded diagnostic testing and laboratory services via an agreement with the leading integrated academic health system, Tufts Medicine. Further, the portfolio of solutions, which the company offers through the acquisition of Personal Genome Diagnostics (PGDx), is expected to continue gaining momentum with major health systems and academic centers in the third quarter of 2023. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. |
35540.0 | 2023-10-23 00:00:00 UTC | IDEXX Laboratories (IDXX) to Post Q3 Earnings: What's in Store? | ACAD | https://www.nasdaq.com/articles/idexx-laboratories-idxx-to-post-q3-earnings%3A-whats-in-store | nan | nan | IDEXX Laboratories, Inc. IDXX is set to release third-quarter 2023 results on Nov 1 before the opening bell.
The company posted adjusted earnings per share (EPS) of $2.67 in the last reported quarter, which surpassed the Zacks Consensus Estimate by 9.88%. IDEXX Laboratories beat earnings estimates in all the trailing four quarters, the average surprise being 7.30%.
Let’s look at how things have shaped up before this announcement.
Factors at Play
IDEXX’s Companion Animal Group (“CAG”) Diagnostics recurring revenues are expected to have achieved robust gains in the United States and international regions. A higher number of premium instrument placements, solid contributions from new business gains and sustained growth in veterinary software and diagnostic imaging revenues must have driven the company’s overall organic revenues in the third quarter of 2023.
Over the past few quarters, CAG Diagnostics’ recurring revenue growth has remained above sector growth levels. This is likely to be reflected in the to-be-reported quarter also. Within the United States, we expect high IDEXX CAG growth premiums to be sustained in the third quarter, achieving 1,370-basis point growth in the last reported second quarter compared to same-store U.S. clinical visit growth levels. These results must have been backed by continued strong IDEXX execution drivers, including the benefits of higher net price realization.
IDEXX Laboratories, Inc. Price and EPS Surprise
IDEXX Laboratories, Inc. price-eps-surprise | IDEXX Laboratories, Inc. Quote
Further, volume gains in the United States must have reflected sustained high customer retention levels, solid new business gains and continued increases in diagnostic frequency and utilization at the practice level. Across modalities, organic growth in IDEXX VetLab consumable revenues must have been supported by the company’s expansion of the global premium instrument installed base, reflecting solid increases across the catalyst, premium hematology and SediVue platforms.
In addition, we assume strong customer interest in ProCyte One to have benefited from global growth in instrument placements. Global rapid assay revenues are also likely to have increased organically in the third quarter of 2023, supported by solid volume gains in the United States and the benefits of net price increases.
Regarding the other areas of the CAG business, organic revenues in the veterinary software and diagnostic imaging business must have benefited from the continued high levels of organic growth in recurring software and digital imaging revenues and the ongoing momentum in cloud-based software placements.
Going by our model, CAG business revenues are expected to increase 9.9% year over year to $840.6 million in the third quarter of 2023.
In the third quarter, IDEXX’s Water business is likely to have delivered solid gains in the United States, Europe and Latin America, including the benefits of the net price improvement. The company continues to progress in the integration of the recent Tecta-PDS acquisition, which has expanded IDXX’s capabilities in water safety testing. We expect its performance to contribute to growth in the Water business in the to-be-reported quarter.
Our model projects the Water segment revenues to be $38.3 million in the third quarter of 2023 compared to the reported figure of $40.8 million in the year-ago quarter.
Similar to the past few quarters, the Livestock, Poultry and Dairy line of business is likely to have been affected by lower herd health screening services. For the third quarter, our model’s projected revenues suggest a 10.2% decline to $25.5 million in the third quarter of 2023.
Q3 Estimates
The Zacks Consensus Estimate for IDEXX’s third-quarter 2023 revenues is pegged at $922.8 million, suggesting an increase of 9.6% from the year-ago reported figure.
The Zacks Consensus Estimate for its third-quarter 2023 EPS of $2.37 indicates a 10.2% rise from the year-ago reported figure.
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, has a higher chance of beating estimates. However, that is not the case here, as you can see below:
Earnings ESP: IDEXX Laboratories has an Earnings ESP of -1.57%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this quarter.
Insulet PODD has an Earnings ESP of +6.61% and a Zacks Rank #2. The company will release third-quarter 2023 results on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Insulet has a long-term expected earnings growth rate of 35.7%. PODD has an earnings yield of 1.13% against the industry’s -2.58%.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. The company is scheduled to release third-quarter 2023 results on Nov 2.
ACAD has an expected long-term earnings growth rate of 43.4%. In the trailing four quarters, the company delivered an average earnings surprise of 20.33%.
Dentsply Sirona XRAY currently has an Earnings ESP of +1.85% and a Zacks Rank #2. The company is scheduled to release its third-quarter 2023 results on Nov 2.
Dentsply Sirona has an expected earnings growth rate of 14.7% for the next year. XRAY’s earnings beat estimates in three of the trailing four quarters, the average surprise being 12.51%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report
IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report
Insulet Corporation (PODD) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2. ACAD has an expected long-term earnings growth rate of 43.4%. Click to get this free report DENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis Report IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report Insulet Corporation (PODD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35541.0 | 2023-10-20 00:00:00 UTC | ACAD Crosses Below Key Moving Average Level | ACAD | https://www.nasdaq.com/articles/acad-crosses-below-key-moving-average-level | nan | nan | In trading on Friday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed below their 200 day moving average of $22.84, changing hands as low as $21.97 per share. Acadia Pharmaceuticals Inc shares are currently trading down about 3.5% on the day. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average:
Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $22.14. | In trading on Friday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed below their 200 day moving average of $22.84, changing hands as low as $21.97 per share. Acadia Pharmaceuticals Inc shares are currently trading down about 3.5% on the day. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $22.14. | In trading on Friday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed below their 200 day moving average of $22.84, changing hands as low as $21.97 per share. Acadia Pharmaceuticals Inc shares are currently trading down about 3.5% on the day. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $22.14. | In trading on Friday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed below their 200 day moving average of $22.84, changing hands as low as $21.97 per share. Acadia Pharmaceuticals Inc shares are currently trading down about 3.5% on the day. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $22.14. | In trading on Friday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed below their 200 day moving average of $22.84, changing hands as low as $21.97 per share. Acadia Pharmaceuticals Inc shares are currently trading down about 3.5% on the day. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $22.14. |
35542.0 | 2023-10-19 00:00:00 UTC | Roche (RHHBY) Nine Months' Sales Fall on Lower COVID-19 Test Sale | ACAD | https://www.nasdaq.com/articles/roche-rhhby-nine-months-sales-fall-on-lower-covid-19-test-sale | nan | nan | Roche’s RHHBY performance in the third quarter and the first nine months of 2023 was impacted by a sharp decline in COVID-19 test sale and exchange rate fluctuations, even though the diagnostics base business and newer drugs maintained their growth.
The appreciation of the Swiss franc against most currencies had a significant adverse impact on the results.
Roche has lost 12.4% year to date against the industry’s growth of 8.6%.
Image Source: Zacks Investment Research
The company reported total sales of CHF 14.3 billion in the third quarter of 2023, up 7% year over year at constant exchange rates (“CER”).
Sales in the first nine months of 2023 came in at CHF 44 billion, down 6% from the same period in 2022.
The company reports results under two divisions — Pharmaceuticals and Diagnostics. All growth rates mentioned below are on a year-over-year basis and at CER.
Sales in the Pharmaceuticals Division rose 9% in the first half to CHF 33.6 billion, driven by strong global demand for newer drugs.
The top five growth drivers of sales — Vabysmo, Ocrevus (multiple sclerosis), Hemlibra (hemophilia), Evrysdi (spinal muscular atrophy) and Phesgo (breast cancer) — generated a total of CHF 11.2 billion, increasing CHF 3.3 billion from the first nine months of 2022.
The Diagnostics division’s sales were down 18% to CHF 10.4 billion. COVID-19 test sales dropped to CHF 0.4 billion in the first nine months of 2023 from CHF 3.6 billion in the same period last year.
Excluding COVID-19 products, group sales increased by 9% at CER.
First Nine Months in Detail
Sales of Ocrevus, used to treat two types of multiple sclerosis, increased 14% to CHF 4.8 billion as demand in both indications (relapsing and primary progressive forms of multiple sclerosis) remained strong.
Sales of hemophilia A drug Hemlibra surged 19% to CHF 3.1 billion.
Perjeta’s sales grew 6% to CHF 3 billion owing to continued high demand.
Immuno-oncology drug Tecentriq (for advanced lung cancer, urothelial cancer and breast cancer) recorded 11% year-over-year sales growth to CHF 2.8 billion.
Actemra/RoActemra sales were up 2% to CHF 1.9 billion.
The biggest driver of revenues in the first nine months was the ophthalmology drug Vabysmo (approved in 2022), which generated sales of CHF 1.6 billion (mainly in the United States).
Asthma drug Xolair generated sales of CHF 1.6 billion, up 4%.
Kadcyla sales of CHF 1.5 billion were up 2%.
Sales of Rituxan/MabThera (for blood cancer and rheumatoid arthritis) declined 15% to CHF 1.3 billion due to biosimilar erosion.
Herceptin sales were down 17% to CHF 1.3 billion due to biosimilar uptake in various countries.
Sales of Avastin, approved for multiple oncology indications, were down 20% to CHF 1.2 billion due to biosimilar competition in the United States and Europe.
Sales of the lung cancer drug Alecensa were up 9% to CHF 1.1 billion.
The spinal muscular atrophy drug Evrysdi generated sales of CHF 1.1 billion, up 45%.
Phesgo, a fixed-dose combination of Perjeta and Herceptin for subcutaneous injection, saw sales of CHF 817 million, up 66%.
Blood cancer drug Gazyva/Gazyvaro sales were CHF 615 million, up 22%.
The blood cancer drug Polivy generated sales of CHF 605 million.
Ronapreve, the antibody cocktail of casirivimab and imdevimab for treating recently diagnosed high-risk patients with mild to moderate COVID-19, generated sales of CHF 532 million, down 5% as the pandemic eased out. Roche and partner Regeneron REGN collaborated on the development and manufacturing of the cocktail.
Revenues in the Diagnostics division declined 18%. The downside in sales across all regions is primarily due to the lower demand for COVID-19 tests. The base business was up 7%, driven by immunodiagnostics, particularly cardiac tests and diagnostic solutions for clinical chemistry.
2023 Guidance Reiterated
Roche expects a decline in total sales in the low single-digit range (at CER) due to a plunge in sales of COVID-19 products of nearly CHF 4.5 billion (versus previous estimate of a decline of CHF 5 billion). Excluding this impact, sales growth is anticipated to be solid in both divisions’ base businesses. Core earnings per share are targeted to develop broadly in line with sales declines.
Pipeline Updates
The European Commission approved Evrysdi for babies under two months old with spinal muscular atrophy.
Primary analysis from the phase III ALINA study showed that Alecensa reduced the risk of disease recurrence or death by 76% compared with platinum-based chemotherapy in people with completely resected stage IB anaplastic lymphoma kinase-positive non-small cell lung cancer.
Our Take
Roche’s performance in the first nine months was decent, excluding COVID-19-related sales. New drugs, namely Ocrevus, Hemlibra, Evrysdi and Tecentriq, boosted growth and the uptake of the new eye drug Vabysmo (launched at the beginning of 2022) was outstanding.
Vabysmo has put up a stellar performance against Regeneron’s Eylea, whose sales have been under pressure in 2023. The approval of a higher dose of Eylea is expected to somewhat offset the sales decline.
However, competition from biosimilars for established cancer medicines like Avastin, MabThera/Rituxan and Herceptin hurt sales.
Zacks Rank & Stock to Consider
Roche currently carries a Zacks Rank #4 (Sell).
A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. Dynavax currently sports a Zacks Rank #1 (Strong Buy) and ACAD carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Loss estimates for Dynavax for 2023 have narrowed to 23 cents from 51 cents in the past 90 days, while earnings estimates for 2024 are pinned at 8 cents per share.
Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 68 cents per share. The stock has surged 45.3% so far this year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Regeneron Pharmaceuticals, Inc. (REGN) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. Dynavax currently sports a Zacks Rank #1 (Strong Buy) and ACAD carries a Zacks Rank #2 (Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 68 cents per share. | Click to get this free report Regeneron Pharmaceuticals, Inc. (REGN) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. Dynavax currently sports a Zacks Rank #1 (Strong Buy) and ACAD carries a Zacks Rank #2 (Buy). | Click to get this free report Regeneron Pharmaceuticals, Inc. (REGN) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. Dynavax currently sports a Zacks Rank #1 (Strong Buy) and ACAD carries a Zacks Rank #2 (Buy). | A couple of better-ranked stocks in the healthcare industry are Dynavax Technologies DVAX and Acadia Pharmaceuticals ACAD. Dynavax currently sports a Zacks Rank #1 (Strong Buy) and ACAD carries a Zacks Rank #2 (Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 68 cents per share. |
35543.0 | 2023-10-17 00:00:00 UTC | Novo Nordisk (NVO) to Acquire Hypertension Drug for $1.3B | ACAD | https://www.nasdaq.com/articles/novo-nordisk-nvo-to-acquire-hypertension-drug-for-%241.3b | nan | nan | Novo Nordisk NVO announced that it will acquire the experimental drug ocedurenone, an orally administered, small-molecule, non-steroidal mineralocorticoid receptor antagonist, from KBP Biosciences for up to $1.3 billion. The acquisition will close before year-end.
Ocedurenone is currently being evaluated in the late-stage CLARION-CKD study in patients with uncontrolled hypertension and advanced chronic kidney disease (“CKD”).
The phase III CLARION-CKD study is ongoing in the United States, Europe and Asia. The study will continue as planned, with more than 600 patients expected to be randomized at more than 150 sites.
Additionally, Nordisk expects to initiate phase III trials in additional cardiovascular and kidney disease indications.
Ocedurenone has been evaluated in nine clinical trials, including the phase IIb BLOCK-CKD study, which met its primary endpoint. Ocedurenone demonstrated a clinically meaningful and statistically significant improvement in systolic blood pressure from baseline to day 84 in patients with stage 3b/4 CKD and uncontrolled hypertension in the BLOCK-CKD study. There were no reports of severe hyperkalemia or acute kidney injury.
Novo Nordisk A/S Price, Consensus and EPS Surprise
Novo Nordisk A/S price-consensus-eps-surprise-chart | Novo Nordisk A/S Quote
Since hypertension is a leading risk factor for cardiovascular events, heart failure, chronic kidney disease and premature death, Novo Nordisk is looking to capture ocedurenone’s best-in-class potential in treating uncontrolled hypertension and addressing cardiovascular and chronic kidney disease.
The acquisition will not impact Novo Nordisk’s operating profit outlook for 2023 or the ongoing share buy-back program.
Shares of Novo Nordisk have surged 49.5% so far this year compared with the industry’s 8.5% growth.
Shares of the company also gained last week when it announced its decision to stop the kidney outcomes study, FLOW, on Ozempic. The decision was based on the positive recommendation of an independent data monitoring committee (“DMC”).
Image Source: Zacks Investment Research
The company’s FLOW study is evaluating the efficacy of Ozempic for preventing the progression of renal impairment in people with type II diabetes and CKD compared with placebo.
The results from an interim analysis of the FLOW study data met certain pre-specified criteria for stopping the study early for efficacy. The DMC thus recommended that the study be stopped at the interim analysis. Data readout from the FLOW study is expected during the first half of 2024.
The company also upped its sales and operating profit forecast for 2023 last week due to higher demand for diabetes drug Ozempic (semaglutide) and obesity drug Wegovy.
Sales for 2023 are now projected to grow by 32-38%, up from the earlier estimate of 27-33%. Operating profit growth is now estimated at 40-46%, up from the previous 31-37% estimate.
NVO has had a tremendous run in 2023 so far due to robust uptake and positive news flow on these two drugs.
Zacks Rank and Stocks to Consider.
Novo Nordisk currently has a Zacks Rank #5 (Strong Sell).
A few better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD, Dynavax Technologies DVAX and Sarepta Therapeutics SRPT, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. Acadia’s shares have surged 49.3% so far this year.
Loss estimates for Dynavax for 2023 have narrowed to 23 cents from 51 cents in the past 90 days, while earnings estimates for 2024 are pinned at 3 cents per share. DVAX stock has surged 36% so far in 2023.
Loss estimates for Sarepta for 2023 have narrowed to $9.19 from $9.21 in the past 60 days, while loss estimates for 2024 have narrowed to $1 from $1.46.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A few better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD, Dynavax Technologies DVAX and Sarepta Therapeutics SRPT, each currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. Acadia’s shares have surged 49.3% so far this year. | A few better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD, Dynavax Technologies DVAX and Sarepta Therapeutics SRPT, each currently sporting a Zacks Rank #1 (Strong Buy). Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. | Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. A few better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD, Dynavax Technologies DVAX and Sarepta Therapeutics SRPT, each currently sporting a Zacks Rank #1 (Strong Buy). | A few better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD, Dynavax Technologies DVAX and Sarepta Therapeutics SRPT, each currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. Acadia’s shares have surged 49.3% so far this year. |
35544.0 | 2023-10-17 00:00:00 UTC | Aldeyra (ALDX) Plummets on Dry Eye Disease Drug's Setback | ACAD | https://www.nasdaq.com/articles/aldeyra-aldx-plummets-on-dry-eye-disease-drugs-setback | nan | nan | Shares of Aldeyra Therapeutics, Inc. ALDX plunged 66.3% after the company received a setback with its new drug application (“NDA”) for reproxalap for the treatment of the signs and symptoms of dry eye disease.
Aldeyra received minutes from a late-cycle review meeting with the FDA, which identified substantive review issues in connection with the NDA for reproxalap.
In the meeting, the regulatory body stated that the NDA lacks data to support reproxalap’s efficacy for the sought indication. The FDA has also requested certain chemistry, manufacturing and controls (“CMC”) details.
Aldeyra then submitted its responses to the FDA, which it believed was sufficient to mitigate the identified review issues and CMC requests. However, the FDA has not directly given an opinion on the sufficiency of the information submitted and has indicated Aldeyra to conduct an additional clinical study to satisfy efficacy requirements.
Aldeyra submitted its NDA for reproxalap for treating the signs and symptoms of dry eye disease in December 2022. In February 2023, the FDA accepted the reproxalap NDA for filing and set a target action date of Nov 23, 2023.
Given the details of the minutes released by Aldeyra, it is unlikely that the FDA will be able to approve the NDA for reproxalap on or about the target action date or even afterward.
The regulatory body might issue a Complete Response Letter (“CRL”) instead and ask Aldeyra to conduct additional CMC studies or clinical studies and submit the results before the application is reconsidered.
An additional study equals extra capital outlay and a delay in approval, significantly denting Aldeyra's growth prospects. Investors are disappointed with the setback.
Shares of Aldeyra have plummeted 73.7% year to date compared with the industry’s 11.4% decline.
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Other candidates in Aldeyra’s pipeline include ADX-629, a novel orally administered reactive aldehyde species (“RASP”) modulator in development for atopic dermatitis, idiopathic nephrotic syndrome, moderate alcohol-associated hepatitis, chronic cough and Sjögren-Larsson syndrome.
The preclinical RASP platform includes ADX-246, ADX-248 and other drug candidates in development for systemic inflammatory diseases and geographic atrophy.
ADX-2191 is in clinical development for the treatment of proliferative vitreoretinopathy and retinitis pigmentosa, two rare retinal diseases characterized by inflammation and vision loss.
Aldeyra Therapeutics, Inc. Price, Consensus and EPS Surprise
Aldeyra Therapeutics, Inc. price-consensus-eps-surprise-chart | Aldeyra Therapeutics, Inc. Quote
However, in June 2023, the company received a CRL from the FDA for the NDA for ADX-2191 (methotrexate for injection) for treating primary vitreoretinal lymphoma (PVRL).
The FDA stated that there was a “lack of substantial evidence of effectiveness” due to “a lack of adequate and well-controlled investigations” in the literature-based NDA submission. Any safety or manufacturing issues with ADX-2191 were not identified, though. Based on prior discussions with the FDA, Aldeyra did not conduct any clinical trials of ADX-2191 in PVRL.
Bausch + Lomb Corporation BLCO recently acquired Xiidra (lifitegrast ophthalmic solution) 5% and certain other ophthalmology assets from Novartis NVS.
Xiidra is a non-steroid eye drop specifically approved to treat the signs and symptoms of dry eye disease. BLCO made an upfront payment of $1.75 billion in cash to Novartis. The deal includes potential milestone obligations of up to $750 million based on sales thresholds and pipeline commercialization.
Zacks Rank and Stock to Consider
Aldeyra currently has a Zacks Rank #3 (Hold).
A better-ranked stock in the healthcare industry is Acadia Pharmaceuticals ACAD, currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. Acadia’s shares have gained 49.3% so far this year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A better-ranked stock in the healthcare industry is Acadia Pharmaceuticals ACAD, currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. Acadia’s shares have gained 49.3% so far this year. | Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Aldeyra Therapeutics, Inc. (ALDX) : Free Stock Analysis Report Bausch + Lomb Corporation (BLCO) : Free Stock Analysis Report To read this article on Zacks.com click here. A better-ranked stock in the healthcare industry is Acadia Pharmaceuticals ACAD, currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. | Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Aldeyra Therapeutics, Inc. (ALDX) : Free Stock Analysis Report Bausch + Lomb Corporation (BLCO) : Free Stock Analysis Report To read this article on Zacks.com click here. A better-ranked stock in the healthcare industry is Acadia Pharmaceuticals ACAD, currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. | A better-ranked stock in the healthcare industry is Acadia Pharmaceuticals ACAD, currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. Acadia’s shares have gained 49.3% so far this year. |
35545.0 | 2023-10-17 00:00:00 UTC | UBS Initiates Coverage of Acadia Pharmaceuticals (ACAD) with Buy Recommendation | ACAD | https://www.nasdaq.com/articles/ubs-initiates-coverage-of-acadia-pharmaceuticals-acad-with-buy-recommendation | nan | nan | Fintel reports that on October 17, 2023, UBS initiated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation.
Analyst Price Forecast Suggests 33.54% Upside
As of October 5, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.76. The forecasts range from a low of 13.13 to a high of $44.10. The average price target represents an increase of 33.54% from its latest reported closing price of 23.78.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. The projected annual non-GAAP EPS is -0.80.
For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 514 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 15 owner(s) or 3.01% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.24%, an increase of 18.12%. Total shares owned by institutions increased in the last three months by 1.13% to 166,002K shares.
The put/call ratio of ACAD is 0.90, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 42,865K shares representing 26.18% ownership of the company. In it's prior filing, the firm reported owning 41,938K shares, representing an increase of 2.16%. The firm increased its portfolio allocation in ACAD by 38.35% over the last quarter.
Rtw Investments holds 9,783K shares representing 5.98% ownership of the company. In it's prior filing, the firm reported owning 8,243K shares, representing an increase of 15.75%. The firm increased its portfolio allocation in ACAD by 38.08% over the last quarter.
Price T Rowe Associates holds 6,014K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 4,551K shares, representing an increase of 24.33%. The firm increased its portfolio allocation in ACAD by 253.17% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.66% ownership of the company. No change in the last quarter.
D. E. Shaw holds 5,263K shares representing 3.21% ownership of the company. In it's prior filing, the firm reported owning 4,901K shares, representing an increase of 6.89%. The firm increased its portfolio allocation in ACAD by 65.62% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on October 17, 2023, UBS initiated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. Analyst Price Forecast Suggests 33.54% Upside As of October 5, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.76. | Fintel reports that on October 17, 2023, UBS initiated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation. Analyst Price Forecast Suggests 33.54% Upside As of October 5, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.76. The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. | Fintel reports that on October 17, 2023, UBS initiated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation. Analyst Price Forecast Suggests 33.54% Upside As of October 5, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.76. The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. | Analyst Price Forecast Suggests 33.54% Upside As of October 5, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.76. The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. There are 514 funds or institutions reporting positions in Acadia Pharmaceuticals. |
35546.0 | 2023-10-16 00:00:00 UTC | Roche's (RHHBY) MS Drug Reduces Brain Lesions in Phase II Study | ACAD | https://www.nasdaq.com/articles/roches-rhhby-ms-drug-reduces-brain-lesions-in-phase-ii-study | nan | nan | Roche RHHBY announced new data from the mid-stage study on an experimental candidate, fenebrutinib, for treating relapsing multiple sclerosis (“RMS”).
Fenebrutinib is an investigational oral, reversible and non-covalent Bruton’s tyrosine kinase (“BTK”) inhibitor that blocks the function of BTK.
The phase II, randomized, double-blind, placebo-controlled 12-week study, FENopta, is evaluating the efficacy, safety and pharmacokinetics of fenebrutinib in 109 adults aged 18-55 with RMS.
New data from the FENopta study in RMS show that fenebrutinib crosses the blood-brain barrier with the potential to act directly on the chronic inflammation related to multiple sclerosis (“MS”).
The candidate was shown to penetrate the brain and reduce brain lesions in RMS patients.
Brain penetrance was measured by the level of fenebrutinib in the cerebrospinal fluid of a subgroup of 11 patients with RMS. The mean fenebrutinib concentration was 43.1 ng/mL after 12 weeks of continuous treatment.
Results also showed that fenebrutinib was able to significantly reduce the total number of new T1 gadolinium-enhancing (T1 Gd+) brain lesions (markers of active inflammation) along with reducing the total number of new or enlarging T2-weighted (T2) brain lesions. These lesions represent the amount of disease burden or chronic lesion load.
Patients treated with fenebrutinib were four times more likely to be free from any new T1 Gd+ brain lesions and new or enlarging T2 brain lesions at weeks 4, 8 and 12 combined compared with the placebo arm.
The encouraging results increase the possibility that fenebrutinib partially slows MS disease progression by acting directly within the brain.
The safety profile of fenebrutinib was consistent with previous and ongoing fenebrutinib studies across more than 2,500 people to date.
The late-breaking data were featured in an oral presentation at the 9th Joint ECTRIMS-ACTRIMS Meeting (European and Americas Committees for Treatment and Research in Multiple Sclerosis).
Currently, an open-label extension of FENopta is ongoing. The phase III program includes two identical trials in RMS (FENhance 1 & 2) with an active teriflunomide comparator and one trial in primary progressive MS (FENtrepid), wherein fenebrutinib is being evaluated against Ocrevus (ocrelizumab).
Roche’s Ocrevus is approved for RMS and relapsing-remitting MS.
RHHBY’s stock has declined 9.6% in the year-to-date period against the industry’s growth of 8.5%.
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Its performance in the first half was decent, excluding COVID-19-related sales. New drugs, namely Ocrevus, Hemlibra, Evrysdi, Tecentriq and Vabysmo, boosted growth.
Roche’s Ocrevus faces competition from biotech giant Biogen’s BIIB strong MS portfolio, which comprises Tysabri, Tecfidera, Vumerity, Avonex, Plegridy and Fampyra. Biogen’s Tysabri is one of the market-leading drugs for MS.
Approval of additional MS drugs will solidify Roche’s MS franchise and increase competition for Biogen’s MS drugs.
Zacks Rank & Stocks to Consider
Roche currently carries a Zacks Rank #4 (Sell).
A couple of better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD and Dynavax Technologies DVAX, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. The stock has surged 45.3% so far this year.
Loss estimates for Dynavax for 2023 have narrowed to 23 cents from 56 cents in the past 90 days, while earnings estimates for 2024 are pinned at 3 cents per share.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A couple of better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD and Dynavax Technologies DVAX, each currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. Click to get this free report Biogen Inc. (BIIB) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Biogen Inc. (BIIB) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD and Dynavax Technologies DVAX, each currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. | Click to get this free report Biogen Inc. (BIIB) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD and Dynavax Technologies DVAX, each currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. | A couple of better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD and Dynavax Technologies DVAX, each currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 41 cents in the past 60 days, while earnings estimates for 2024 are pegged at 67 cents per share. Click to get this free report Biogen Inc. (BIIB) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35547.0 | 2023-10-16 00:00:00 UTC | Novo Nordisk (NVO) Raises Sales Outlook for 2023, Shares Gain | ACAD | https://www.nasdaq.com/articles/novo-nordisk-nvo-raises-sales-outlook-for-2023-shares-gain | nan | nan | Novo Nordisk NVO upped its sales and operating profit forecast for 2023 yet again on the back of higher demand for diabetes drug Ozempic (semaglutide) and obesity drug Wegovy.
Sales for 2023 are now projected to grow by 32-38%, up from the earlier estimate of 27-33%. Operating profit growth is now estimated at 40-46%, up from the previous 31-37% estimate.
Once-weekly subcutaneous Ozempic is currently approved in 0.5 mg, 1.0 mg and 2.0 mg doses to improve glycemic control in adults with type 2 diabetes mellitus, adjunct to diet and exercise. Ozempic is also approved to reduce the risk of major adverse cardiovascular events in adults with type 2 diabetes mellitus and established cardiovascular disease.
Semaglutide injection 2.4 mg is approved under the brand name Wegovy for treating obesity.
Please note that the company raised its annual guidance concurrent with second-quarter results earlier.
Novo Nordisk A/S Price and Consensus
Novo Nordisk A/S price-consensus-chart | Novo Nordisk A/S Quote
The company also announced that sales increased by 33% and operating profit increased by 37% (at constant exchange rates) in the first nine months of 2023. For the third quarter, sales increased by 38%, while operating profit growth came in at 47%.
Shares of the company gained 1.96% following the announcement.
Year-to-date, shares of Novo Nordisk have shot up 50.9% compared with the industry’s 8.5% rise.
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NVO has had a tremendous run in 2023 so far due to robust uptake and positive news flow on these two drugs.
Shares of the company also gained last week when it announced its decision to stop the kidney outcomes study, FLOW, on Ozempic. The decision was based on the positive recommendation of an independent data monitoring committee (“DMC”).
The company’s FLOW study is evaluating the efficacy of Ozempic for preventing the progression of renal impairment in people with type II diabetes and chronic kidney disease (“CKD”) compared with placebo.
The results from an interim analysis of the FLOW study data met certain pre-specified criteria for stopping the study early for efficacy. The DMC thus recommended that the study be stopped at the interim analysis. Data readout from the FLOW study is expected during the first half of 2024.
NVO continues to expand its supply capacity for Wegovy post re-launch in the United States as well as in other geographies. The consecutive increase in guidance suggests increased traction of both Ozempic and Wegovy for their respective indications.
The obesity market has garnered much interest lately, giving impetus to drugs like Wegovy and Eli Lilly’s LLY Mounjaro (tirzepatide), among others.
LLY’s Mounjaro, a once-weekly glucose-dependent insulinotropic polypeptide receptor and glucagon-like peptide-1 receptor agonist, was approved in 2022 as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes.
It is currently under review in the United States and European Union for adults living with obesity or overweight with weight-related comorbidities. It is also being studied as a potential treatment for people with obesity and/or overweight, heart failure, preserved ejection fraction and CKD.
The recent results from the late-stage SURMOUNT-3 study evaluating Mounjaro in adults with obesity or overweight with weight-related comorbidities, excluding type 2 diabetes, showed an additional 21.1% weight loss after 12 weeks of intensive lifestyle intervention.
Zacks Rank and Stocks to Consider.
Novo Nordisk currently has a Zacks Rank #5 (Strong Sell).
A couple of better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD and Dynavax Technologies DVAX, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Loss estimates for Acadia for 2023 have narrowed to 37 cents from 42 cents in the past 60 days, while earnings estimates for 2024 are pegged at 69 cents per share. The stock has surged 45.3% so far this year.
Loss estimates for Dynavax for 2023 have narrowed to 23 cents from 51 cents in the past 90 days, while earnings estimates for 2024 are pinned at 3 cents per share. The stock has surged 33.8% so far this year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A couple of better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD and Dynavax Technologies DVAX, each currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 42 cents in the past 60 days, while earnings estimates for 2024 are pegged at 69 cents per share. Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD and Dynavax Technologies DVAX, each currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 42 cents in the past 60 days, while earnings estimates for 2024 are pegged at 69 cents per share. | Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD and Dynavax Technologies DVAX, each currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 42 cents in the past 60 days, while earnings estimates for 2024 are pegged at 69 cents per share. | A couple of better-ranked stocks in the healthcare industry are Acadia Pharmaceuticals ACAD and Dynavax Technologies DVAX, each currently sporting a Zacks Rank #1 (Strong Buy). Loss estimates for Acadia for 2023 have narrowed to 37 cents from 42 cents in the past 60 days, while earnings estimates for 2024 are pegged at 69 cents per share. Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35548.0 | 2023-10-12 00:00:00 UTC | Reasons to Add Acadia (ACAD) Stock to Your Portfolio Now | ACAD | https://www.nasdaq.com/articles/reasons-to-add-acadia-acad-stock-to-your-portfolio-now | nan | nan | San Diego, CA-based Acadia Pharmaceuticals Inc. ACAD is a commercial biopharmaceutical company engaged in developing innovative medicines to address various central nervous system disorders. ACAD currently looks like a good stock from the biotech sector to invest in.
Acadia’s lead product, Nuplazid (pimavanserin) is an FDA-approved treatment for hallucinations and delusions associated with Parkinson’s disease psychosis.
Acadia’s second product, Daybue (trofinetide) was approved by the FDA in March 2023 for the treatment of Rett syndrome in adult and pediatric patients two years of age and older.
Acadia’s top line currently comprises revenues from two of its marketed products, Nuplazid and the newly-approved, Daybue.
Here are some reasons why investors should consider betting on Acadia stock.
Good Rank and Rising Estimates: Acadia currently has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line estimate for Acadia has narrowed from a loss of 41 cents per share to 40 cents per share for 2023 over the past 60 days. The stock has surged 46.9% so far this year against the industry’s decline of 18.9%.
Image Source: Zacks Investment Research
Nuplazid Sales Drive Growth: Sales of Nuplazid have improved steadily since its launch in 2016. Nuplazid’s net sales in the first half of 2023 were $260.5 million, reflecting an increase of 4.2% year over year. The drug has witnessed continued demand over the years.
Pimavanserin Label Expansion Program Holds Promise: Several label expansion studies on pimavanserin targeting different types of neurological and psychiatric disorders are presently ongoing.
Acadia is currently evaluating pimavanserin in the phase III ADVANCE-2 study for treating negative symptoms of schizophrenia. Enrollment in the study is now complete, with top-line data from the same expected in the first quarter of 2024.
A potential approval of the expanded indication of pimavanserin will further boost the drug’s sales and drive the stock.
Daybue Approval Provides a Boost: Acadia’s second drug, Daybue, was launched in the United States market around mid-April.
The incremental stream of revenues from Daybue sales is expected to reduce the burden on Nuplazid sales for revenues while driving growth simultaneously.
Pipeline Beyond Nuplazid Holds Promise: We are also encouraged by Acadia’s efforts to expand its portfolio beyond Nuplazid.The company has added a new study candidate to its rare disease portfolio, ACP-101, which is set to be evaluated in a pivotal phase III study for hyperphagia associated with Prader-Willi Syndrome.
Acadia is also developing ACP-204 as a potential treatment for Alzheimer’s disease psychosis. The successful development and potential approval of these candidates will diversify Acadia’s portfolio of marketed products and drive the top line further.
With a sound cash position, two marketed products and a promising pipeline, investor focus remains on ACAD stock.
Other Stocks to Consider
Some other stocks in the biotech sector include ASLAN Pharmaceuticals Limited ASLN, Sarepta Therapeutics, Inc. SRPT and Nurix Therapeutics, Inc. NRIX, sporting a Zacks Rank #1 each. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 30 days, loss per share estimates for ASLAN Pharmaceuticals’ 2023 have been stable at $3.01. During the same period, the loss estimates per share for 2024 have remained unchanged at $3.63. Year to date, shares of ASLN have declined 17.8%.
Earnings of ASLAN Pharmaceuticals beat estimates in two of the last four quarters and missed the same on the other two occasions. ASLN delivered a four-quarter average earnings surprise of 9.16%.
In the past 30 days, estimates for Sarepta’s 2023 loss per share have improved from $9.21 to $9.19. During the same period, the loss per share estimates for 2024 have narrowed from $1.46 to $1. Year to date, shares of SRPT have lost 5%.
Earnings of Sarepta Therapeutics beat estimates in three of the trailing four quarters and missed the mark on the other occasion. On average, SRPT delivered a negative earnings surprise of 5.15% in the last four quarters.
In the past 30 days, estimates for Nurix Therapeutics’ 2023 loss per share have been stable at $2.55. During the same period, the loss estimates per share for 2024 have remained unchanged at $3.37. Year to date, shares of NRIX have declined 41.1%.
Earnings of Nurix Therapeutics beat estimates in three of the trailing four quarters and missed the mark on the other occasion. NRIX came up with an average four-quarter earnings surprise of 6.60%.
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Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | San Diego, CA-based Acadia Pharmaceuticals Inc. ACAD is a commercial biopharmaceutical company engaged in developing innovative medicines to address various central nervous system disorders. Acadia’s second product, Daybue (trofinetide) was approved by the FDA in March 2023 for the treatment of Rett syndrome in adult and pediatric patients two years of age and older. The successful development and potential approval of these candidates will diversify Acadia’s portfolio of marketed products and drive the top line further. | Click to get this free report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report ASLAN Pharmaceuticals Ltd. (ASLN) : Free Stock Analysis Report Nurix Therapeutics, Inc. (NRIX) : Free Stock Analysis Report To read this article on Zacks.com click here. San Diego, CA-based Acadia Pharmaceuticals Inc. ACAD is a commercial biopharmaceutical company engaged in developing innovative medicines to address various central nervous system disorders. ACAD currently looks like a good stock from the biotech sector to invest in. | The bottom line estimate for Acadia has narrowed from a loss of 41 cents per share to 40 cents per share for 2023 over the past 60 days. Click to get this free report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report ASLAN Pharmaceuticals Ltd. (ASLN) : Free Stock Analysis Report Nurix Therapeutics, Inc. (NRIX) : Free Stock Analysis Report To read this article on Zacks.com click here. San Diego, CA-based Acadia Pharmaceuticals Inc. ACAD is a commercial biopharmaceutical company engaged in developing innovative medicines to address various central nervous system disorders. | With a sound cash position, two marketed products and a promising pipeline, investor focus remains on ACAD stock. San Diego, CA-based Acadia Pharmaceuticals Inc. ACAD is a commercial biopharmaceutical company engaged in developing innovative medicines to address various central nervous system disorders. ACAD currently looks like a good stock from the biotech sector to invest in. |
35549.0 | 2023-10-10 00:00:00 UTC | Why Acadia Pharmaceuticals Stock Is Rising Today | ACAD | https://www.nasdaq.com/articles/why-acadia-pharmaceuticals-stock-is-rising-today | nan | nan | What happened
Acadia Pharmaceuticals (NASDAQ: ACAD) is having a strong session Tuesday. Specifically, the drugmaker's shares were up by a healthy 6.7% on moderate volume at 10:02 a.m. ET.
What's sparking this rally? Ahead of the opening bell, JPMorgan analyst Tessa Romero upgraded the bank's outlook from neutral to overweight and raised its 12-month price target on the stock to $32 per share (up from $29 per share). This updated price target implies a noteworthy 47% upside potential relative to Acadia Pharmaceuticals' closing price on Monday.
So what
Despite an impressive 44.6% gain year-to-date, Acadia Pharmaceuticals stock has actually been struggling in recent weeks. Thanks to concerns about a patent dispute, rising bond yields, and a general aversion to risk by some investors, the biotech's shares have lost nearly a third of their value since hitting a 52-week high back in late July. As a result, this analyst upgrade probably couldn't have come at a better time.
Acadia Pharmaceuticals stock screens as an attractive, fundamentals-driven growth story, despite the patent and macro headwinds. Driving this point home, the drugmaker's stock is presently trading at only 3 times projected 2025 sales, a bargain-basement valuation for a company on track to post double-digit sales growth in both 2023 and 2024.
Now what
Is Acadia Pharmaceuticals stock still a buy? I think so. The company's newly approved Rett syndrome medication, Daybue, has blockbuster sales potential, and its Parkinson's disease psychosis drug, Nuplazid, is a proven revenue generator. Taken together, I think these two drugs will drive the company to consistent levels of profitability perhaps as soon as 2024. With its shares trading well below recent highs, I think now is a good time to start building a position in this mid-cap biotech.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals stock screens as an attractive, fundamentals-driven growth story, despite the patent and macro headwinds. What happened Acadia Pharmaceuticals (NASDAQ: ACAD) is having a strong session Tuesday. This updated price target implies a noteworthy 47% upside potential relative to Acadia Pharmaceuticals' closing price on Monday. | What happened Acadia Pharmaceuticals (NASDAQ: ACAD) is having a strong session Tuesday. So what Despite an impressive 44.6% gain year-to-date, Acadia Pharmaceuticals stock has actually been struggling in recent weeks. This updated price target implies a noteworthy 47% upside potential relative to Acadia Pharmaceuticals' closing price on Monday. | 10 stocks we like better than Acadia Pharmaceuticals When our analyst team has a stock tip, it can pay to listen. What happened Acadia Pharmaceuticals (NASDAQ: ACAD) is having a strong session Tuesday. This updated price target implies a noteworthy 47% upside potential relative to Acadia Pharmaceuticals' closing price on Monday. | Now what Is Acadia Pharmaceuticals stock still a buy? What happened Acadia Pharmaceuticals (NASDAQ: ACAD) is having a strong session Tuesday. This updated price target implies a noteworthy 47% upside potential relative to Acadia Pharmaceuticals' closing price on Monday. |
35550.0 | 2023-10-10 00:00:00 UTC | JP Morgan Upgrades Acadia Pharmaceuticals (ACAD) | ACAD | https://www.nasdaq.com/articles/jp-morgan-upgrades-acadia-pharmaceuticals-acad | nan | nan | Fintel reports that on October 10, 2023, JP Morgan upgraded their outlook for Acadia Pharmaceuticals (NASDAQ:ACAD) from Neutral to Overweight .
Analyst Price Forecast Suggests 46.07% Upside
As of October 5, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.76. The forecasts range from a low of 13.13 to a high of $44.10. The average price target represents an increase of 46.07% from its latest reported closing price of 21.74.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. The projected annual non-GAAP EPS is -0.80.
For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 514 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 17 owner(s) or 3.42% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.24%, an increase of 17.71%. Total shares owned by institutions increased in the last three months by 0.38% to 165,881K shares.
The put/call ratio of ACAD is 1.10, indicating a bearish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 42,865K shares representing 26.18% ownership of the company. In it's prior filing, the firm reported owning 41,938K shares, representing an increase of 2.16%. The firm increased its portfolio allocation in ACAD by 38.35% over the last quarter.
Rtw Investments holds 9,783K shares representing 5.98% ownership of the company. In it's prior filing, the firm reported owning 8,243K shares, representing an increase of 15.75%. The firm increased its portfolio allocation in ACAD by 38.08% over the last quarter.
Price T Rowe Associates holds 6,014K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 4,551K shares, representing an increase of 24.33%. The firm increased its portfolio allocation in ACAD by 253.17% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.66% ownership of the company. No change in the last quarter.
D. E. Shaw holds 5,263K shares representing 3.21% ownership of the company. In it's prior filing, the firm reported owning 4,901K shares, representing an increase of 6.89%. The firm increased its portfolio allocation in ACAD by 65.62% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on October 10, 2023, JP Morgan upgraded their outlook for Acadia Pharmaceuticals (NASDAQ:ACAD) from Neutral to Overweight . For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. Analyst Price Forecast Suggests 46.07% Upside As of October 5, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.76. | Fintel reports that on October 10, 2023, JP Morgan upgraded their outlook for Acadia Pharmaceuticals (NASDAQ:ACAD) from Neutral to Overweight . Analyst Price Forecast Suggests 46.07% Upside As of October 5, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.76. The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. | Fintel reports that on October 10, 2023, JP Morgan upgraded their outlook for Acadia Pharmaceuticals (NASDAQ:ACAD) from Neutral to Overweight . Analyst Price Forecast Suggests 46.07% Upside As of October 5, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.76. The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. | Analyst Price Forecast Suggests 46.07% Upside As of October 5, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.76. The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. There are 514 funds or institutions reporting positions in Acadia Pharmaceuticals. |
35551.0 | 2023-10-10 00:00:00 UTC | Are Medical Stocks Lagging Amphastar Pharmaceuticals (AMPH) This Year? | ACAD | https://www.nasdaq.com/articles/are-medical-stocks-lagging-amphastar-pharmaceuticals-amph-this-year-1 | nan | nan | For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Amphastar Pharmaceuticals (AMPH) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Amphastar Pharmaceuticals is a member of our Medical group, which includes 1093 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Amphastar Pharmaceuticals is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AMPH's full-year earnings has moved 7.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AMPH has gained about 69.7% so far this year. At the same time, Medical stocks have lost an average of 7.6%. As we can see, Amphastar Pharmaceuticals is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Acadia Pharmaceuticals (ACAD). The stock is up 36.6% year-to-date.
Over the past three months, Acadia Pharmaceuticals' consensus EPS estimate for the current year has increased 23.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Amphastar Pharmaceuticals belongs to the Medical - Generic Drugs industry, which includes 16 individual stocks and currently sits at #64 in the Zacks Industry Rank. On average, this group has gained an average of 17.8% so far this year, meaning that AMPH is performing better in terms of year-to-date returns.
In contrast, Acadia Pharmaceuticals falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 529 stocks and is ranked #70. Since the beginning of the year, the industry has moved -18.9%.
Amphastar Pharmaceuticals and Acadia Pharmaceuticals could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | One other Medical stock that has outperformed the sector so far this year is Acadia Pharmaceuticals (ACAD). Over the past three months, Acadia Pharmaceuticals' consensus EPS estimate for the current year has increased 23.2%. In contrast, Acadia Pharmaceuticals falls under the Medical - Biomedical and Genetics industry. | Click to get this free report Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. One other Medical stock that has outperformed the sector so far this year is Acadia Pharmaceuticals (ACAD). Over the past three months, Acadia Pharmaceuticals' consensus EPS estimate for the current year has increased 23.2%. | Amphastar Pharmaceuticals and Acadia Pharmaceuticals could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks. Click to get this free report Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. One other Medical stock that has outperformed the sector so far this year is Acadia Pharmaceuticals (ACAD). | One other Medical stock that has outperformed the sector so far this year is Acadia Pharmaceuticals (ACAD). Over the past three months, Acadia Pharmaceuticals' consensus EPS estimate for the current year has increased 23.2%. In contrast, Acadia Pharmaceuticals falls under the Medical - Biomedical and Genetics industry. |
35552.0 | 2023-09-30 00:00:00 UTC | 2 Growth Stocks I'd Buy on the Dip | ACAD | https://www.nasdaq.com/articles/2-growth-stocks-id-buy-on-the-dip | nan | nan | With the third quarter of 2023 rapidly coming to a close, U.S. equities have turned decidedly volatile over the past few trading sessions. While the exact cause of this turmoil isn't altogether clear, there is a good chance that a lot of it stems from institutional and high net-worth investors rebalancing their portfolios ahead of the start of Q4.
Which stocks stand out as compelling buys on this recent weakness? For my money, I like both Acadia Pharmaceuticals (NASDAQ: ACAD) and Tilray Brands (NASDAQ: TLRY) at current levels. Both companies are long-term growth plays to be sure, but their respective upside potentials could be considerable, to put it mildly. Here's why bargain hunters might want to catch these two falling knives.
Image source: Getty Images.
Acadia Pharmaceuticals: An attractive valuation
Last Thursday, Acadia Pharmaceuticals stock plunged by nearly 16% on a patent dispute. As a big fan of bargains, however, I view this double-digit sell-off as an attractive entry point for investors with an elevated tolerance for risk and an eye for potential market-beating opportunities.
The biotech has two commercial-stage products: Nuplazid for Parkinson's disease psychosis and Daybue for Rett syndrome. Taken together, some Wall Street analysts think these two drugs could haul in over $2 billion a year for the company within the next few years. That's an impressive revenue projection considering Acadia Pharmaceuticals presently has a market cap of only $3.46 billion. As such, it's not unrealistic to think this biotech stock could easily rise by 70% or perhaps more in the years ahead. A market cap of approximately 3 times annual sales isn't exactly a nosebleed valuation in biopharma after all.
What's more, Acadia Pharmaceuticals sports a robust clinical pipeline full of potential value creators in the areas of Alzheimer's disease, schizophrenia, and rare conditions like Prader-Willi syndrome. And the company's balance sheet is also on solid ground, with a cash position of approximately $375 million at last count. So while there is always substantial risk with early commercial-stage biopharma stocks due to a variety of issues, such as intellectual property disputes, regulatory setbacks, clinical failures, and slower-than-expected new drug launches, I think this latest pullback in Acadia Pharmaceuticals stock might be a good time to start picking up shares in small batches.
Tilray Brands: A top cannabis play
Canada's Tilray Brands has been on quite the ride over the past three months. Over this period, the marijuana and beverage company's shares have tracked higher by nearly 50%, but they have also fallen by almost 30% from their recent high. Tilray Brands stock has been exceptionally volatile of late because of three key issues:
In August, Tilray Brands struck a tremendous asset deal with Anheuser-Busch to acquire eight beer and beverage brands. This deal significantly expands the company's beverage portfolio and further lessens the importance of cannabis product sales in the short term.
The U.S. may be close to downgrading marijuana from Schedule I to Schedule III depending on the outcome of an ongoing review by the Drug Enforcement Agency. Such a move wouldn't make marijuana federally legal in the broad sense, but it would open the door toward more clinical studies and perhaps full legalization down the road.
The U.S. Senate is poised to finally hold a vote on the Secure and Fair Enforcement (SAFE) Banking Act. If signed into law, U.S.-based cannabis businesses would have access to the full range of traditional financial services, such as commercial lines of credit and business loans. More importantly, this upcoming vote may be a positive sign that the U.S. is slowly but steadily moving toward full legalization.
What does this all mean for Tilray Brands? While the beverage deal is definitely a net positive, the U.S. political and regulatory movements aren't all that important to this Canadian marijuana company -- at least not right now. The fact of the matter is that Tilray Brands' unique value proposition probably won't become readily apparent until the U.S. legalizes cannabis at the federal level, making its stock a true long-term play on the promising cannabis space.
Now, there is an upshot to the current situation. Although these politically charged market conditions are indeed challenging for all cannabis-based businesses, they also create an opportunity for the best players in the industry to stand out from the crowd. Tilray Brands has a strong leadership team, a dominant position in several product segments, and a diversified revenue base that is not dependent on cannabis alone. So, if you're looking for a pot stock to buy and hold in perpetuity, Tilray Brands stock may be worth adding to your portfolio following its pullback from recent highs.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What's more, Acadia Pharmaceuticals sports a robust clinical pipeline full of potential value creators in the areas of Alzheimer's disease, schizophrenia, and rare conditions like Prader-Willi syndrome. For my money, I like both Acadia Pharmaceuticals (NASDAQ: ACAD) and Tilray Brands (NASDAQ: TLRY) at current levels. Acadia Pharmaceuticals: An attractive valuation Last Thursday, Acadia Pharmaceuticals stock plunged by nearly 16% on a patent dispute. | For my money, I like both Acadia Pharmaceuticals (NASDAQ: ACAD) and Tilray Brands (NASDAQ: TLRY) at current levels. Acadia Pharmaceuticals: An attractive valuation Last Thursday, Acadia Pharmaceuticals stock plunged by nearly 16% on a patent dispute. That's an impressive revenue projection considering Acadia Pharmaceuticals presently has a market cap of only $3.46 billion. | So while there is always substantial risk with early commercial-stage biopharma stocks due to a variety of issues, such as intellectual property disputes, regulatory setbacks, clinical failures, and slower-than-expected new drug launches, I think this latest pullback in Acadia Pharmaceuticals stock might be a good time to start picking up shares in small batches. For my money, I like both Acadia Pharmaceuticals (NASDAQ: ACAD) and Tilray Brands (NASDAQ: TLRY) at current levels. Acadia Pharmaceuticals: An attractive valuation Last Thursday, Acadia Pharmaceuticals stock plunged by nearly 16% on a patent dispute. | For my money, I like both Acadia Pharmaceuticals (NASDAQ: ACAD) and Tilray Brands (NASDAQ: TLRY) at current levels. Acadia Pharmaceuticals: An attractive valuation Last Thursday, Acadia Pharmaceuticals stock plunged by nearly 16% on a patent dispute. That's an impressive revenue projection considering Acadia Pharmaceuticals presently has a market cap of only $3.46 billion. |
35553.0 | 2023-09-29 00:00:00 UTC | Noteworthy Friday Option Activity: NCLH, STNG, ACAD | ACAD | https://www.nasdaq.com/articles/noteworthy-friday-option-activity%3A-nclh-stng-acad | nan | nan | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Norwegian Cruise Line Holdings Ltd (Symbol: NCLH), where a total of 53,252 contracts have traded so far, representing approximately 5.3 million underlying shares. That amounts to about 45.6% of NCLH's average daily trading volume over the past month of 11.7 million shares. Particularly high volume was seen for the $16 strike put option expiring September 29, 2023, with 5,688 contracts trading so far today, representing approximately 568,800 underlying shares of NCLH. Below is a chart showing NCLH's trailing twelve month trading history, with the $16 strike highlighted in orange:
Scorpio Tankers Inc (Symbol: STNG) saw options trading volume of 5,048 contracts, representing approximately 504,800 underlying shares or approximately 45.4% of STNG's average daily trading volume over the past month, of 1.1 million shares. Especially high volume was seen for the $55 strike call option expiring October 20, 2023, with 1,090 contracts trading so far today, representing approximately 109,000 underlying shares of STNG. Below is a chart showing STNG's trailing twelve month trading history, with the $55 strike highlighted in orange:
And Acadia Pharmaceuticals Inc (Symbol: ACAD) saw options trading volume of 8,342 contracts, representing approximately 834,200 underlying shares or approximately 44.6% of ACAD's average daily trading volume over the past month, of 1.9 million shares. Particularly high volume was seen for the $21 strike put option expiring November 17, 2023, with 2,004 contracts trading so far today, representing approximately 200,400 underlying shares of ACAD. Below is a chart showing ACAD's trailing twelve month trading history, with the $21 strike highlighted in orange:
For the various different available expirations for NCLH options, STNG options, or ACAD options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Particularly high volume was seen for the $21 strike put option expiring November 17, 2023, with 2,004 contracts trading so far today, representing approximately 200,400 underlying shares of ACAD. Below is a chart showing STNG's trailing twelve month trading history, with the $55 strike highlighted in orange: And Acadia Pharmaceuticals Inc (Symbol: ACAD) saw options trading volume of 8,342 contracts, representing approximately 834,200 underlying shares or approximately 44.6% of ACAD's average daily trading volume over the past month, of 1.9 million shares. Below is a chart showing ACAD's trailing twelve month trading history, with the $21 strike highlighted in orange: For the various different available expirations for NCLH options, STNG options, or ACAD options, visit StockOptionsChannel.com. | Below is a chart showing STNG's trailing twelve month trading history, with the $55 strike highlighted in orange: And Acadia Pharmaceuticals Inc (Symbol: ACAD) saw options trading volume of 8,342 contracts, representing approximately 834,200 underlying shares or approximately 44.6% of ACAD's average daily trading volume over the past month, of 1.9 million shares. Below is a chart showing ACAD's trailing twelve month trading history, with the $21 strike highlighted in orange: For the various different available expirations for NCLH options, STNG options, or ACAD options, visit StockOptionsChannel.com. Particularly high volume was seen for the $21 strike put option expiring November 17, 2023, with 2,004 contracts trading so far today, representing approximately 200,400 underlying shares of ACAD. | Below is a chart showing STNG's trailing twelve month trading history, with the $55 strike highlighted in orange: And Acadia Pharmaceuticals Inc (Symbol: ACAD) saw options trading volume of 8,342 contracts, representing approximately 834,200 underlying shares or approximately 44.6% of ACAD's average daily trading volume over the past month, of 1.9 million shares. Particularly high volume was seen for the $21 strike put option expiring November 17, 2023, with 2,004 contracts trading so far today, representing approximately 200,400 underlying shares of ACAD. Below is a chart showing ACAD's trailing twelve month trading history, with the $21 strike highlighted in orange: For the various different available expirations for NCLH options, STNG options, or ACAD options, visit StockOptionsChannel.com. | Particularly high volume was seen for the $21 strike put option expiring November 17, 2023, with 2,004 contracts trading so far today, representing approximately 200,400 underlying shares of ACAD. Below is a chart showing STNG's trailing twelve month trading history, with the $55 strike highlighted in orange: And Acadia Pharmaceuticals Inc (Symbol: ACAD) saw options trading volume of 8,342 contracts, representing approximately 834,200 underlying shares or approximately 44.6% of ACAD's average daily trading volume over the past month, of 1.9 million shares. Below is a chart showing ACAD's trailing twelve month trading history, with the $21 strike highlighted in orange: For the various different available expirations for NCLH options, STNG options, or ACAD options, visit StockOptionsChannel.com. |
35554.0 | 2023-09-28 00:00:00 UTC | Notable Two Hundred Day Moving Average Cross - ACAD | ACAD | https://www.nasdaq.com/articles/notable-two-hundred-day-moving-average-cross-acad | nan | nan | In trading on Thursday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed below their 200 day moving average of $22.30, changing hands as low as $21.16 per share. Acadia Pharmaceuticals Inc shares are currently trading off about 14.7% on the day. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average:
Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $21.65.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Thursday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed below their 200 day moving average of $22.30, changing hands as low as $21.16 per share. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $21.65. Acadia Pharmaceuticals Inc shares are currently trading off about 14.7% on the day. | In trading on Thursday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed below their 200 day moving average of $22.30, changing hands as low as $21.16 per share. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $21.65. Acadia Pharmaceuticals Inc shares are currently trading off about 14.7% on the day. | In trading on Thursday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed below their 200 day moving average of $22.30, changing hands as low as $21.16 per share. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $21.65. Acadia Pharmaceuticals Inc shares are currently trading off about 14.7% on the day. | In trading on Thursday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) crossed below their 200 day moving average of $22.30, changing hands as low as $21.16 per share. Acadia Pharmaceuticals Inc shares are currently trading off about 14.7% on the day. The chart below shows the one year performance of ACAD shares, versus its 200 day moving average: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $21.65. |
35555.0 | 2023-09-18 00:00:00 UTC | Acadia Pharmaceuticals is Now Oversold (ACAD) | ACAD | https://www.nasdaq.com/articles/acadia-pharmaceuticals-is-now-oversold-acad-0 | nan | nan | Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Monday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) entered into oversold territory, hitting an RSI reading of 29.4, after changing hands as low as $24.44 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 46.3. A bullish investor could look at ACAD's 29.4 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ACAD shares:
Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $24.53.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A bullish investor could look at ACAD's 29.4 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ACAD shares: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $24.53. In trading on Monday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) entered into oversold territory, hitting an RSI reading of 29.4, after changing hands as low as $24.44 per share. | A bullish investor could look at ACAD's 29.4 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ACAD shares: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $24.53. In trading on Monday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) entered into oversold territory, hitting an RSI reading of 29.4, after changing hands as low as $24.44 per share. | In trading on Monday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) entered into oversold territory, hitting an RSI reading of 29.4, after changing hands as low as $24.44 per share. The chart below shows the one year performance of ACAD shares: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $24.53. A bullish investor could look at ACAD's 29.4 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. | In trading on Monday, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) entered into oversold territory, hitting an RSI reading of 29.4, after changing hands as low as $24.44 per share. A bullish investor could look at ACAD's 29.4 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of ACAD shares: Looking at the chart above, ACAD's low point in its 52 week range is $13.73 per share, with $33.99 as the 52 week high point — that compares with a last trade of $24.53. |
35556.0 | 2023-09-01 00:00:00 UTC | Acadia (ACAD) Down 0.7% Since Last Earnings Report: Can It Rebound? | ACAD | https://www.nasdaq.com/articles/acadia-acad-down-0.7-since-last-earnings-report%3A-can-it-rebound | nan | nan | It has been about a month since the last earnings report for Acadia Pharmaceuticals (ACAD). Shares have lost about 0.7% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Acadia due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Acadia Q2 Earnings & Revenues Beat Estimates, '23 View Up
Acadia Pharmaceuticals Inc.reported second-quarter 2023 earnings of 1 cent per share. The Zacks Consensus Estimate was pegged at a loss of 12 cents per share. In the year-ago quarter, the company had incurred a loss of 21 cents per share.
The company recorded net product revenues of $165.2 million in the reported quarter, surpassing the Zacks Consensus Estimate of $154 million. Acadia’s net product revenues comprised of revenues from two of its marketed products, such as Nuplazid (pimavanserin) and the newly-approved Daybue (trofinetide).
Quarter in Detail
In the reported quarter, revenues from Nuplazid sales increased 5.5% year over year to $142 million. Nuplazid sales increased 19.8% sequentially in the second quarter. Per the company, the uptick in Nuplazid sales was primarily driven by an increase in volume due to demand from new patient starts of Nuplazid and a higher average net selling price. The reported second-quarter figure beat our model estimate of $132.9 million.
In the first quarter of commercialization in April 2023, Daybue recorded net product sales of $23.2 million for the reported quarter. Management claims that more than 400 prescribers have written prescriptions for Daybue, to date.
Research and development (R&D) expenses in the quarter were $58.8 million, down 22.2% year over year, owing to decreased costs in the prior year associated with pre-approval manufacturing supply expenses for trofinetide.
Selling, general and administrative (SG&A) expenses were $96 million, up 6.8% year over year. The improvement in the expenses can be attributed to increased commercial costs associated with the Daybue launch, partially offset by efficiencies in Acadia’s commercial support of Nuplazid.
Acadia had cash, cash equivalents and investments worth $375.4 million as of Jun 30, 2023, compared with $402.9 million as of Mar 31, 2023. The decrease in cash balance is on account of the $40 million milestone payment to Neuren related to Daybue’s first commercial sale.
2023 Financial Guidance Updated
Acadia expects third-quarter 2023 Daybue sales in the range of $45-$55 million.
ACAD now expects Nuplazid net sales in the range of $530-$545 million (previously $520-$550 million), thus streamlining its expectations for the full-year 2023.
The company expects R&D expenses in the $335-$355 million range (previously $235-$255 million. This guidance includes the $100 million upfront payment to Neuren in July for the expanded licensing agreement.
SG&A expenses are expected in the band of $380-$400 million (previously $360-$380 million) in 2023. The anticipated rise in SG&A expenses is on account of higher operating costs as a result of favorable business performance, including employee retention costs as well as Daybue incentive compensation and investments in patient support services.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -364.42% due to these changes.
VGM Scores
At this time, Acadia has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Acadia has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Acadia belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Alkermes (ALKS), has gained 5.7% over the past month. More than a month has passed since the company reported results for the quarter ended June 2023.
Alkermes reported revenues of $617.4 million in the last reported quarter, representing a year-over-year change of +123.5%. EPS of $0.55 for the same period compares with $0.06 a year ago.
For the current quarter, Alkermes is expected to post earnings of $0.45 per share, indicating a change of +2150% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.6% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Alkermes. Also, the stock has a VGM Score of A.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It has been about a month since the last earnings report for Acadia Pharmaceuticals (ACAD). Will the recent negative trend continue leading up to its next earnings release, or is Acadia due for a breakout? Acadia Q2 Earnings & Revenues Beat Estimates, '23 View Up Acadia Pharmaceuticals Inc.reported second-quarter 2023 earnings of 1 cent per share. | Acadia Q2 Earnings & Revenues Beat Estimates, '23 View Up Acadia Pharmaceuticals Inc.reported second-quarter 2023 earnings of 1 cent per share. Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Alkermes plc (ALKS) : Free Stock Analysis Report To read this article on Zacks.com click here. It has been about a month since the last earnings report for Acadia Pharmaceuticals (ACAD). | Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Alkermes plc (ALKS) : Free Stock Analysis Report To read this article on Zacks.com click here. It has been about a month since the last earnings report for Acadia Pharmaceuticals (ACAD). Will the recent negative trend continue leading up to its next earnings release, or is Acadia due for a breakout? | It has been about a month since the last earnings report for Acadia Pharmaceuticals (ACAD). Will the recent negative trend continue leading up to its next earnings release, or is Acadia due for a breakout? Acadia Q2 Earnings & Revenues Beat Estimates, '23 View Up Acadia Pharmaceuticals Inc.reported second-quarter 2023 earnings of 1 cent per share. |
35557.0 | 2023-08-28 00:00:00 UTC | 2 Supercharged Growth Stocks Billionaires Can't Stop Buying | ACAD | https://www.nasdaq.com/articles/2-supercharged-growth-stocks-billionaires-cant-stop-buying | nan | nan | If you are looking for some high-octane growth stocks to add to your portfolio, you might want to follow in the footsteps of some of the most successful investors in the biotech sector. Baker Bros. Advisors, a hedge fund founded by billionaire brothers Julian and Felix Baker, has a stellar track record of picking winners in the healthcare space. The fund has over $23 billion in assets under management and focuses on companies that are developing innovative therapies for unmet medical needs.
Two of the fund's top holdings are Acadia Pharmaceuticals (NASDAQ: ACAD) and Roivant Sciences (NASDAQ: ROIV), both of which have delivered impressive returns in the past year. Acadia is a leader in the field of neuropsychiatric disorders, with two Food and Drug Administration (FDA)-approved products on the market for Parkinson's disease psychosis (Nuplazid) and Rett syndrome (Daybue).
ACAD data by YCharts
Roivant is a diversified biopharma company that operates multiple subsidiaries, each focused on a different therapeutic area or technology platform. Roivant's portfolio includes the FDA-approved Vtama cream, which is a novel treatment for psoriasis, along with scores of promising candidates in the fields of immunology and inflammation. The company also sports an important business and research partnership with Pfizer for the experimental inflammatory bowel disease (IBD) drug RVT-3101.
Image source: Getty Images.
Let's take a closer look at why Baker Bros. Advisors keeps buying these two supercharged growth stocks, and why it might be a good idea to take a page from its playbook.
Acadia Pharmaceuticals: A play on underserved neurological conditions
Over the past decade, Acadia has slowly built a top-shelf neurology franchise. Sales of its flagship drug, Nuplazid, have steadily grown since its launch in 2016. And the biotech's latest achievement, the FDA approval and subsequent commercial launch of Daybue for Rett syndrome, a rare genetic disorder that causes severe intellectual and physical impairments in children, should push the company into positive-free-cash-flow territory as soon as next year. Underscoring this point, some analysts expect Daybue to eventually become a blockbuster drug.
Acadia's impressive performance has kept Baker Bros. buying shares. The fund increased its stake by nearly 1 million shares in the second quarter of 2023, signaling its confidence in Acadia's long-term growth potential. Following this latest round of buying, the hedge fund owns over a quarter of Acadia's outstanding shares, making it the drugmaker's biggest stakeholder by a wide margin.
Why is Acadia's stock still a buy? Even though acquisition rumors have faded, Acadia remains an attractive investment opportunity based on its own merits. The company has a dominant position in the underserved market of neurological disorders, with a proven track record of innovation and commercialization.
Acadia also has a robust pipeline of early- to late-stage candidates for several high-value indications, such as Prader-Willi syndrome, Alzheimer's disease psychosis, and negative symptoms of schizophrenia, among others. These programs could add significant value to Acadia's portfolio and drive further revenue growth. Acadia is well positioned to achieve profitability and positive cash flow in the near future, thanks to its strong sales momentum and efficient cost structure. Acadia is a rare gem in the biotech sector, offering both growth and value to investors.
Roivant Sciences: A top immunology play
Baker Bros. Advisors boosted its stake in Roivant Sciences yet again in the second quarter of 2023. The fund acquired 4.65 million more shares of Roivant Sciences in Q2, according to its latest 13F filings, raising its total ownership to about 9.42 million shares, or 1.22% of the company. This marks the third consecutive quarter the fund has increased its exposure to the biotech, indicating its strong belief in the company's future prospects and innovative drug portfolio.
What is driving this optimism? Roivant Sciences has been making remarkable strides in developing its clinical candidates across various disease areas. However, the main attraction for investors right now is the status of its Pfizer-collaborated IBD drug RVT-3101. There have been reports recently about other major pharmaceutical companies eyeing a takeover of the drug, but no official offer has been made yet.
Meanwhile, RVT-3101 has shown clear blockbuster sales potential, based on its outstanding mid-stage results, along with the unmet medical need represented by IBD. Roivant Sciences, therefore, could be poised for a sustained growth trajectory, driven in large part by its high-quality immunology franchise.
However, there is also a very real possibility that a bidder will indeed emerge from the sidelines. Immunology, after all, has been a hot area for mergers and acquisitions in recent years. Having said that, it isn't entirely clear whether Pfizer will stand in the way of a sale.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia is a leader in the field of neuropsychiatric disorders, with two Food and Drug Administration (FDA)-approved products on the market for Parkinson's disease psychosis (Nuplazid) and Rett syndrome (Daybue). Following this latest round of buying, the hedge fund owns over a quarter of Acadia's outstanding shares, making it the drugmaker's biggest stakeholder by a wide margin. Two of the fund's top holdings are Acadia Pharmaceuticals (NASDAQ: ACAD) and Roivant Sciences (NASDAQ: ROIV), both of which have delivered impressive returns in the past year. | Two of the fund's top holdings are Acadia Pharmaceuticals (NASDAQ: ACAD) and Roivant Sciences (NASDAQ: ROIV), both of which have delivered impressive returns in the past year. Acadia is a leader in the field of neuropsychiatric disorders, with two Food and Drug Administration (FDA)-approved products on the market for Parkinson's disease psychosis (Nuplazid) and Rett syndrome (Daybue). ACAD data by YCharts Roivant is a diversified biopharma company that operates multiple subsidiaries, each focused on a different therapeutic area or technology platform. | Two of the fund's top holdings are Acadia Pharmaceuticals (NASDAQ: ACAD) and Roivant Sciences (NASDAQ: ROIV), both of which have delivered impressive returns in the past year. Acadia is a leader in the field of neuropsychiatric disorders, with two Food and Drug Administration (FDA)-approved products on the market for Parkinson's disease psychosis (Nuplazid) and Rett syndrome (Daybue). ACAD data by YCharts Roivant is a diversified biopharma company that operates multiple subsidiaries, each focused on a different therapeutic area or technology platform. | Two of the fund's top holdings are Acadia Pharmaceuticals (NASDAQ: ACAD) and Roivant Sciences (NASDAQ: ROIV), both of which have delivered impressive returns in the past year. Acadia is a leader in the field of neuropsychiatric disorders, with two Food and Drug Administration (FDA)-approved products on the market for Parkinson's disease psychosis (Nuplazid) and Rett syndrome (Daybue). ACAD data by YCharts Roivant is a diversified biopharma company that operates multiple subsidiaries, each focused on a different therapeutic area or technology platform. |
35558.0 | 2023-08-22 00:00:00 UTC | Cantor Fitzgerald Reiterates Acadia Pharmaceuticals (ACAD) Overweight Recommendation | ACAD | https://www.nasdaq.com/articles/cantor-fitzgerald-reiterates-acadia-pharmaceuticals-acad-overweight-recommendation-0 | nan | nan | Fintel reports that on August 22, 2023, Cantor Fitzgerald reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Overweight recommendation.
Analyst Price Forecast Suggests 2.27% Upside
As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. The forecasts range from a low of 12.12 to a high of $44.10. The average price target represents an increase of 2.27% from its latest reported closing price of 30.32.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. The projected annual non-GAAP EPS is -0.80.
For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 507 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 17 owner(s) or 3.47% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.22%, an increase of 16.46%. Total shares owned by institutions increased in the last three months by 0.69% to 166,446K shares.
The put/call ratio of ACAD is 0.90, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 42,865K shares representing 26.18% ownership of the company. In it's prior filing, the firm reported owning 41,938K shares, representing an increase of 2.16%. The firm increased its portfolio allocation in ACAD by 38.35% over the last quarter.
Rtw Investments holds 9,783K shares representing 5.98% ownership of the company. In it's prior filing, the firm reported owning 8,243K shares, representing an increase of 15.75%. The firm increased its portfolio allocation in ACAD by 38.08% over the last quarter.
Price T Rowe Associates holds 6,014K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 4,551K shares, representing an increase of 24.33%. The firm decreased its portfolio allocation in ACAD by 30.99% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.66% ownership of the company. No change in the last quarter.
D. E. Shaw holds 5,263K shares representing 3.21% ownership of the company. In it's prior filing, the firm reported owning 4,901K shares, representing an increase of 6.89%. The firm decreased its portfolio allocation in ACAD by 11.12% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
Additional reading:
Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd.
Press Release dated August 2, 2023.
Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on August 22, 2023, Cantor Fitzgerald reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Overweight recommendation. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds. | Fintel reports that on August 22, 2023, Cantor Fitzgerald reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Overweight recommendation. Analyst Price Forecast Suggests 2.27% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. | Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds. Fintel reports that on August 22, 2023, Cantor Fitzgerald reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Overweight recommendation. Analyst Price Forecast Suggests 2.27% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. | Analyst Price Forecast Suggests 2.27% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. There are 507 funds or institutions reporting positions in Acadia Pharmaceuticals. |
35559.0 | 2023-08-22 00:00:00 UTC | Acadia Pharmaceuticals Reaches Analyst Target Price | ACAD | https://www.nasdaq.com/articles/acadia-pharmaceuticals-reaches-analyst-target-price-2 | nan | nan | In recent trading, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) have crossed above the average analyst 12-month target price of $30.06, changing hands for $30.34/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 16 different analyst targets within the Zacks coverage universe contributing to that average for Acadia Pharmaceuticals Inc, but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $12.00. And then on the other side of the spectrum one analyst has a target as high as $42.00. The standard deviation is $7.962.
But the whole reason to look at the average ACAD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with ACAD crossing above that average target price of $30.06/share, investors in ACAD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $30.06 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover Acadia Pharmaceuticals Inc:
RECENT ACAD ANALYST RATINGS BREAKDOWN
» Current 1 Month Ago 2 Month Ago 3 Month Ago
Strong buy ratings: 6 6 6 6
Buy ratings: 1 1 1 1
Hold ratings: 8 9 9 9
Sell ratings: 0 0 1 1
Strong sell ratings: 1 1 1 1
Average rating: 2.31 2.35 2.44 2.44
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on ACAD — FREE.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In recent trading, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) have crossed above the average analyst 12-month target price of $30.06, changing hands for $30.34/share. And so with ACAD crossing above that average target price of $30.06/share, investors in ACAD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $30.06 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? There are 16 different analyst targets within the Zacks coverage universe contributing to that average for Acadia Pharmaceuticals Inc, but the average is just that — a mathematical average. | In recent trading, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) have crossed above the average analyst 12-month target price of $30.06, changing hands for $30.34/share. But the whole reason to look at the average ACAD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. There are 16 different analyst targets within the Zacks coverage universe contributing to that average for Acadia Pharmaceuticals Inc, but the average is just that — a mathematical average. | There are 16 different analyst targets within the Zacks coverage universe contributing to that average for Acadia Pharmaceuticals Inc, but the average is just that — a mathematical average. And so with ACAD crossing above that average target price of $30.06/share, investors in ACAD have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $30.06 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? In recent trading, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) have crossed above the average analyst 12-month target price of $30.06, changing hands for $30.34/share. | In recent trading, shares of Acadia Pharmaceuticals Inc (Symbol: ACAD) have crossed above the average analyst 12-month target price of $30.06, changing hands for $30.34/share. There are 16 different analyst targets within the Zacks coverage universe contributing to that average for Acadia Pharmaceuticals Inc, but the average is just that — a mathematical average. But the whole reason to look at the average ACAD price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. |
35560.0 | 2023-08-22 00:00:00 UTC | Can This Red-Hot Biotech Stock Keep Beating the Broader Markets? | ACAD | https://www.nasdaq.com/articles/can-this-red-hot-biotech-stock-keep-beating-the-broader-markets | nan | nan | Building a portfolio that can stand the test of time is no easy task. Only a handful of individual stocks are truly capable of outperforming low-cost index funds over long periods of time. After all, the U.S. stock market is a fairly efficient machine.
Companies that steadily grow revenue and earnings over time tend to be rewarded with premium valuations, and vice-versa. As a result, it can be a serious challenge to spot hidden gems in today's market.
Acadia Pharmaceuticals (NASDAQ: ACAD), a commercial-stage biopharma specializing in treatments for central nervous disorders, is a potential market-beating play. Over the past five years, the biotech's shares have soundly outperformed the broader markets. And this year, Acadia's shares have continued their winning ways by rocketing by more than 90% year to date.
Can the drugmaker's stock keep delivering above-average returns for shareholders? Let's dig deeper to find out.
ACAD Total Return Level data by YCharts.
A mid-cap biotech stock with room to run
Acadia Pharmaceuticals is a California-based pharma company with two Food and Drug Administration (FDA) approved medicines on the market. In 2016, the FDA approved the company's Parkinson's disease psychosis (PDP) medication Nuplazid, and in 2023, it green-lit its Rett Syndrome drug Daybue.
Thanks to these clinical and regulatory successes, Acadia's top line has surged over the prior 6 1/2 years:
ACAD Revenue (Annual) data by YCharts.
Despite these FDA approvals, however, Acadia has been a money-losing operation for most of its existence as a commercial-stage company. But this unfavorable situation may be about to change for the better.
Some analysts think the biotech is on the verge of becoming cash-flow positive on a consistent basis as a direct result of Daybue's commercial launch. This rare-disease drug, after all, holds blockbuster sales potential, due to the large unmet medical need represented by this uncommon neurological disorder.
Acadia also sports a robust pipeline of experimental compounds and potential line extensions, which should provide a surfeit of catalysts for its shares over the next 12 to 24 months. For example, in the first quarter of 2024, the biotech is on track to announce top-line results for the phase 3 trial evaluating pimavanserin in patients with predominantly negative symptoms of schizophrenia.
Later this year, the biotech plans on advancing its newly acquired Prader-Willi syndrome drug, ACP-101 (intranasal carbetocin), into a pivotal-stage trial. On the early-stage front, Acadia has an ongoing collaboration with Stoke Therapeutics to develop RNA-based medicines for severe and rare genetic neurodevelopmental diseases of the central nervous system.
Is it time to buy?
Acadia's stock has soared in 2023 but may not be done yet. The company has a strong portfolio of drugs for central nervous system disorders and may not require another clinical-trial success to handsomely reward its shareholders over the next two to three years. After all, the biotech's valuation is still fairly attractive, as its shares trade at less than 5x projected sales.
All things considered, Acadia's shares ought to perform reasonably well over the next few years due to Daybue's rising sales, Nuplazid's entrenched market position, and the company's modest valuation. Positive data readouts or encouraging regulatory developments should provide additional upside for shareholders in the years to come.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A mid-cap biotech stock with room to run Acadia Pharmaceuticals is a California-based pharma company with two Food and Drug Administration (FDA) approved medicines on the market. On the early-stage front, Acadia has an ongoing collaboration with Stoke Therapeutics to develop RNA-based medicines for severe and rare genetic neurodevelopmental diseases of the central nervous system. All things considered, Acadia's shares ought to perform reasonably well over the next few years due to Daybue's rising sales, Nuplazid's entrenched market position, and the company's modest valuation. | Acadia Pharmaceuticals (NASDAQ: ACAD), a commercial-stage biopharma specializing in treatments for central nervous disorders, is a potential market-beating play. All things considered, Acadia's shares ought to perform reasonably well over the next few years due to Daybue's rising sales, Nuplazid's entrenched market position, and the company's modest valuation. And this year, Acadia's shares have continued their winning ways by rocketing by more than 90% year to date. | A mid-cap biotech stock with room to run Acadia Pharmaceuticals is a California-based pharma company with two Food and Drug Administration (FDA) approved medicines on the market. All things considered, Acadia's shares ought to perform reasonably well over the next few years due to Daybue's rising sales, Nuplazid's entrenched market position, and the company's modest valuation. Acadia Pharmaceuticals (NASDAQ: ACAD), a commercial-stage biopharma specializing in treatments for central nervous disorders, is a potential market-beating play. | Acadia Pharmaceuticals (NASDAQ: ACAD), a commercial-stage biopharma specializing in treatments for central nervous disorders, is a potential market-beating play. And this year, Acadia's shares have continued their winning ways by rocketing by more than 90% year to date. ACAD Total Return Level data by YCharts. |
35561.0 | 2023-08-18 00:00:00 UTC | Validea Detailed Fundamental Analysis - ACAD | ACAD | https://www.nasdaq.com/articles/validea-detailed-fundamental-analysis-acad-1 | nan | nan | Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental momentum and price momentum.
ACADIA PHARMACEUTICALS INC (ACAD) is a mid-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 94% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
FUNDAMENTAL MOMENTUM: PASS
TWELVE MINUS ONE MOMENTUM: PASS
FINAL RANK: PASS
Detailed Analysis of ACADIA PHARMACEUTICALS INC
ACAD Guru Analysis
ACAD Fundamental Analysis
More Information on Dashan Huang
Dashan Huang Portfolio
About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. His paper "Twin Momentum" looked at combining traditional price momentum with improving fundamentals to generate market outperformance. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure. He showed that stocks in the top 20% of the universe according to that measure outperformed the market going forward. When he combined that measure with price momentum, he was able to double its outperformance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACADIA PHARMACEUTICALS INC (ACAD) is a mid-cap growth stock in the Biotechnology & Drugs industry. Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. | Of the 22 guru strategies we follow, ACAD rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. Detailed Analysis of ACADIA PHARMACEUTICALS INC ACAD Guru Analysis ACAD Fundamental Analysis More Information on Dashan Huang Dashan Huang Portfolio About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). | Detailed Analysis of ACADIA PHARMACEUTICALS INC ACAD Guru Analysis ACAD Fundamental Analysis More Information on Dashan Huang Dashan Huang Portfolio About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. | Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. ACADIA PHARMACEUTICALS INC (ACAD) is a mid-cap growth stock in the Biotechnology & Drugs industry. |
35562.0 | 2023-08-15 00:00:00 UTC | Is SPDR S&P Biotech ETF (XBI) a Strong ETF Right Now? | ACAD | https://www.nasdaq.com/articles/is-spdr-sp-biotech-etf-xbi-a-strong-etf-right-now-7 | nan | nan | A smart beta exchange traded fund, the SPDR S&P Biotech ETF (XBI) debuted on 01/31/2006, and offers broad exposure to the Health Care ETFs category of the market.
What Are Smart Beta ETFs?
Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.
Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.
But, there are some investors who would rather invest in smart beta funds; these funds track non-cap weighted strategies, and are a strong option for those who prefer choosing great stocks in order to beat the market.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.
Fund Sponsor & Index
The fund is managed by State Street Global Advisors, and has been able to amass over $6.25 billion, which makes it one of the largest ETFs in the Health Care ETFs. This particular fund, before fees and expenses, seeks to match the performance of the S&P Biotechnology Select Industry Index.
The S&P Biotechnology Select Industry Index represents the biotechnology sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the U.S. common stocks listed on the NYSE, AMEX, NASDAQ National Market and NASDAQ Small Cap exchanges. The Biotech Index is a modified equal weight index.
Cost & Other Expenses
Expense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.
Annual operating expenses for XBI are 0.35%, which makes it one of the least expensive products in the space.
The fund has a 12-month trailing dividend yield of 0%.
Sector Exposure and Top Holdings
It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Healthcare sector - about 100% of the portfolio.
Looking at individual holdings, Bridgebio Pharma Inc (BBIO) accounts for about 2.37% of total assets, followed by Acadia Pharmaceuticals Inc (ACAD) and Halozyme Therapeutics Inc (HALO).
XBI's top 10 holdings account for about 10.09% of its total assets under management.
Performance and Risk
The ETF has lost about -3.58% and is down about -14.66% so far this year and in the past one year (as of 08/15/2023), respectively. XBI has traded between $73.13 and $92.39 during this last 52-week period.
The fund has a beta of 0.94 and standard deviation of 36.34% for the trailing three-year period, which makes XBI a high risk choice in this particular space. With about 143 holdings, it effectively diversifies company-specific risk.
Alternatives
SPDR S&P Biotech ETF is an excellent option for investors seeking to outperform the Health Care ETFs segment of the market. There are other ETFs in the space which investors could consider as well.
First Trust NYSE Arca Biotechnology ETF (FBT) tracks NYSE Arca Biotechnology Index and the iShares Biotechnology ETF (IBB) tracks Nasdaq Biotechnology Index. First Trust NYSE Arca Biotechnology ETF has $1.39 billion in assets, iShares Biotechnology ETF has $7.46 billion. FBT has an expense ratio of 0.56% and IBB charges 0.44%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Health Care ETFs.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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SPDR S&P Biotech ETF (XBI): ETF Research Reports
Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report
iShares Biotechnology ETF (IBB): ETF Research Reports
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
First Trust NYSE Arca Biotechnology ETF (FBT): ETF Research Reports
BridgeBio Pharma, Inc. (BBIO) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at individual holdings, Bridgebio Pharma Inc (BBIO) accounts for about 2.37% of total assets, followed by Acadia Pharmaceuticals Inc (ACAD) and Halozyme Therapeutics Inc (HALO). Click to get this free report SPDR S&P Biotech ETF (XBI): ETF Research Reports Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report iShares Biotechnology ETF (IBB): ETF Research Reports ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report First Trust NYSE Arca Biotechnology ETF (FBT): ETF Research Reports BridgeBio Pharma, Inc. (BBIO) : Free Stock Analysis Report To read this article on Zacks.com click here. Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results. | Click to get this free report SPDR S&P Biotech ETF (XBI): ETF Research Reports Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report iShares Biotechnology ETF (IBB): ETF Research Reports ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report First Trust NYSE Arca Biotechnology ETF (FBT): ETF Research Reports BridgeBio Pharma, Inc. (BBIO) : Free Stock Analysis Report To read this article on Zacks.com click here. Looking at individual holdings, Bridgebio Pharma Inc (BBIO) accounts for about 2.37% of total assets, followed by Acadia Pharmaceuticals Inc (ACAD) and Halozyme Therapeutics Inc (HALO). First Trust NYSE Arca Biotechnology ETF (FBT) tracks NYSE Arca Biotechnology Index and the iShares Biotechnology ETF (IBB) tracks Nasdaq Biotechnology Index. | Click to get this free report SPDR S&P Biotech ETF (XBI): ETF Research Reports Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report iShares Biotechnology ETF (IBB): ETF Research Reports ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report First Trust NYSE Arca Biotechnology ETF (FBT): ETF Research Reports BridgeBio Pharma, Inc. (BBIO) : Free Stock Analysis Report To read this article on Zacks.com click here. Looking at individual holdings, Bridgebio Pharma Inc (BBIO) accounts for about 2.37% of total assets, followed by Acadia Pharmaceuticals Inc (ACAD) and Halozyme Therapeutics Inc (HALO). First Trust NYSE Arca Biotechnology ETF (FBT) tracks NYSE Arca Biotechnology Index and the iShares Biotechnology ETF (IBB) tracks Nasdaq Biotechnology Index. | Looking at individual holdings, Bridgebio Pharma Inc (BBIO) accounts for about 2.37% of total assets, followed by Acadia Pharmaceuticals Inc (ACAD) and Halozyme Therapeutics Inc (HALO). Click to get this free report SPDR S&P Biotech ETF (XBI): ETF Research Reports Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report iShares Biotechnology ETF (IBB): ETF Research Reports ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report First Trust NYSE Arca Biotechnology ETF (FBT): ETF Research Reports BridgeBio Pharma, Inc. (BBIO) : Free Stock Analysis Report To read this article on Zacks.com click here. This particular fund, before fees and expenses, seeks to match the performance of the S&P Biotechnology Select Industry Index. |
35563.0 | 2023-08-11 00:00:00 UTC | Immunovant (IMVT) Q1 Loss Wider Y/Y, Pipeline in Focus | ACAD | https://www.nasdaq.com/articles/immunovant-imvt-q1-loss-wider-y-y-pipeline-in-focus | nan | nan | Immunovant, Inc. IMVT reported fiscal first-quarter 2023 net loss of 57 cents per share, wider than the year-ago quarter's reported loss of 35 cents.
Currently, IMVT does not have any approved product in its portfolio. As a result, it is yet to generate revenues.
The stock has gained 25.7% year to date against the industry’s 12% decline.
Image Source: Zacks Investment Research
Quarter in Detail
Research and development (R&D) expenses totaled $50.6 million, up 78.2% from the year-ago quarter’s reported figure. The year-over-year surge can be attributed to higher development and contract manufacturing costs associated with the development of IMVT-1402, as well as expenses related to the batoclimab program. Additionally, the increase can be attributed to higher personnel-related expenses. The R&D expenses were partially offset by a decline in costs for cross-indication clinical studies.
General and administrative expenses amounted to $15.4 million, up 29.4% on a year-over-year basis. The rise was primarily due to an increase in personnel-related expenses, along with higher financial advisory and legal and other professional costs.
As of Jun 30, 2023, Immunovant had a cash balance of $330.0 million compared with $376.5 million as of Mar 31, 2023.
With its existing cash balance, IMVT expects to fund its operating expenses and capital expenditure into the second half of 2025.
Pipeline Update
The company is developing its lead pipeline candidate batoclimab as a subcutaneous injection to treat autoimmune indications, including myasthenia gravis (MG), thyroid eye disease (TED), chronic inflammatory demyelinating polyneuropathy (CIDP) and Graves’ disease (GD). Several mid-late-stage studies are currently ongoing to evaluate batoclimab in the treatment of each of these indications.
A phase II proof-of-concept study of batoclimab in GD is ongoing in Germany and initial results from the same are expected in the fourth quarter of 2023.
Immunovant remains on track to report initial results from period 1 of the phase IIb study in CIDP in the first half of 2024. The company also expects to have top-line results from the phase III study in MG and the phase III study in TED in the second half of 2024 and the first half of 2025, respectively.
An early-stage study is currently underway to evaluate the safety, tolerability and pharmacodynamic profiles of IMVT-1402 for the treatment of autoimmune disease. IMVT-1402 is a subcutaneously administered FcRn inhibitor. The company expects to report initial data from the single-ascending dose cohorts by September 2023, while initial data from the multiple-ascending dose cohorts are anticipated by October or November 2023.
Immunovant, Inc. Price and Consensus
Immunovant, Inc. price-consensus-chart | Immunovant, Inc. Quote
Zacks Rank and Stocks to Consider
Immunovant currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same industry are JAZZ Pharmaceuticals JAZZ, Acadia Pharmaceuticals ACAD and Corcept Therapeutics CORT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate for JAZZ Pharmaceuticals has gone up from earnings of $17.41 per share to $17.49 for 2023. The bottom-line estimate has also moved up from $19.37 to $19.48 for 2024 during the same time frame. Shares of the company have lost 15.1% year to date.
JAZZ’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 27.59%.
In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 40 cents for 2023. The consensus estimate has improved from a loss of 11 cents per share to a profit of 46 cents for 2024 during the same time frame. Shares of the company have rallied 67.4% year to date.
ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 20.33%.
In the past 90 days, the Zacks Consensus Estimate for Corcept has gone up from earnings of 67 cents per share to 75 cents for 2023. The bottom-line estimate has also improved from 64 cents to 81 cents for 2024 during the same time frame. Shares of the company have rallied 51.1% year to date.
CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%.
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Jazz Pharmaceuticals PLC (JAZZ) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the same industry are JAZZ Pharmaceuticals JAZZ, Acadia Pharmaceuticals ACAD and Corcept Therapeutics CORT, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 40 cents for 2023. ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 20.33%. | Some better-ranked stocks in the same industry are JAZZ Pharmaceuticals JAZZ, Acadia Pharmaceuticals ACAD and Corcept Therapeutics CORT, each carrying a Zacks Rank #2 (Buy) at present. Click to get this free report Jazz Pharmaceuticals PLC (JAZZ) : Free Stock Analysis Report Corcept Therapeutics Incorporated (CORT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Immunovant, Inc. (IMVT) : Free Stock Analysis Report To read this article on Zacks.com click here. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 40 cents for 2023. | In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 40 cents for 2023. Click to get this free report Jazz Pharmaceuticals PLC (JAZZ) : Free Stock Analysis Report Corcept Therapeutics Incorporated (CORT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Immunovant, Inc. (IMVT) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the same industry are JAZZ Pharmaceuticals JAZZ, Acadia Pharmaceuticals ACAD and Corcept Therapeutics CORT, each carrying a Zacks Rank #2 (Buy) at present. | Some better-ranked stocks in the same industry are JAZZ Pharmaceuticals JAZZ, Acadia Pharmaceuticals ACAD and Corcept Therapeutics CORT, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 40 cents for 2023. ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 20.33%. |
35564.0 | 2023-08-10 00:00:00 UTC | Denali (DNLI) Q2 Earnings Beat on Higher Collaboration Revenues | ACAD | https://www.nasdaq.com/articles/denali-dnli-q2-earnings-beat-on-higher-collaboration-revenues | nan | nan | Denali Therapeutics DNLI delivered earnings of $1.30 per share for second-quarter 2023 on higher collaboration revenues. The Zacks Consensus Estimate was pegged at a loss of 86 cents per share. The company had recorded a loss of 48 cents in the year-ago quarter.
Collaboration revenues came in at $294.1 million in the reported quarter, surpassing the Zacks Consensus Estimate of $11 million and surging significantly from $52.5 million in the year-ago quarter.
The massive year-over-year increase of $241.6 million in collaboration revenues was primarily due to an increase of $293.6 million in revenues under the company’s collaboration agreement with Biogen BIIB.
In April 2023, Denali announced that Biogen exercised its option to license Denali’s ATV:Abeta. Biogen will assume responsibility for all development and commercial activities as well as associated expenses. Denali received a one-time option exercise payment and if certain milestones are achieved, Denali will be eligible to receive potential development and commercial milestone payments and royalties based on future net sales.
Denali’s shares have lost 11.1% in the year so far compared with the industry’s 12.5% decline.
Image Source: Zacks Investment Research
Quarter in Detail
Research and development expenses increased 5.1% to $97.5 million in the quarter under review. The hike was due to increases in ETV:IDS and eIF2B programs’ external expenses reflecting the continued progress of these programs in clinical trials during 2023.
General and administrative expenses increased 23.4% to $26.1 million.
Cash, cash equivalents and marketable securities were $1.19 billion as of Jun 30, 2023 compared with $1.29 billion as of Mar 31, 2022.
Denali Therapeutics Inc. Price, Consensus and EPS Surprise
Denali Therapeutics Inc. price-consensus-eps-surprise-chart | Denali Therapeutics Inc. Quote
Recent Updates
Denali had also collaborated with Biogen to advance its LRRK2 inhibitor program to address Parkinson’s disease (PD). Biogen was conducting two late-stage studies: the phase IIb LUMA study in participants with early-stage PD and the phase III LIGHTHOUSE study in participants with PD and a confirmed LRRK2 pathogenic variant.
However, in June, Denali and Biogen announced plans to revise the clinical development program for BIIB122/DNL151 based on a review of portfolio timelines and resource prioritization.
Hence, taking into account the LIGHTHOUSE study’s complexity, including the long timeline with anticipated study completion in 2031, Biogen and Denali plan to refocus their efforts to enable a timely readout on efficacy in idiopathic early-stage PD while gaining further clinical data in Parkinson’s disease with and without an LRRK2 mutation. Consequently, Biogen and Denali will modify the LUMA study’s enrollment criteria to allow for the inclusion of eligible participants with PD and a confirmed pathogenic variant of LRRK2, in addition to continuing to enroll eligible participants with idiopathic early-stage PD. Collectively, the data from the LUMA study will inform the next steps for developing BIIB122 in PD.
In June, Denali announced new interim results from the ongoing open-label, single-arm phase I/II study of DNL310 in children with Hunter syndrome (MPS II).
Results demonstrated a robust reduction in neurofilament light (NfL), a marker of neuroaxonal damage. A decline in serum NfL levels was observed after six months of treatment with DNL310, reaching a statistically significant reduction of approximately 40% at week 61 and 64% after two years of treatment with DNL310 compared with baseline.
Denali also announced that the FDA had recently recommended Denali assess NfL as an exploratory endpoint to evaluate its potential as a possible biomarker to assess diagnostic, prognostic or therapeutic response in subjects with neuronopathic MPS II. Denali intends to share the new NfL data with the FDA at an upcoming meeting as part of the ongoing dialogue related to the DNL310 development program.
Denali and partner Sanofi SNY are co-developing SAR443820. Sanofi is conducting the global phase II HIMALAYA study for participants with amyotrophic lateral sclerosis.
Both companies are also developing SAR443122/DNL758 (eclitasertib). In June, Sanofi completed a phase II study of DNL758 in patients with cutaneous lupus erythematosus and its data analysis is ongoing. Sanofi is also conducting a mid-stage study of SAR443122 in patients with ulcerative colitis.
Zacks Rank and Stocks to Consider
Denali currently has a Zacks Rank #4 (Sell).
A better-ranked stock in the biotech sector is Acadia Pharmaceuticals ACAD, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 20.33%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A better-ranked stock in the biotech sector is Acadia Pharmaceuticals ACAD, which currently carries a Zacks Rank #2 (Buy). Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 20.33%. | Click to get this free report Sanofi (SNY) : Free Stock Analysis Report Biogen Inc. (BIIB) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Denali Therapeutics Inc. (DNLI) : Free Stock Analysis Report To read this article on Zacks.com click here. A better-ranked stock in the biotech sector is Acadia Pharmaceuticals ACAD, which currently carries a Zacks Rank #2 (Buy). Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. | Click to get this free report Sanofi (SNY) : Free Stock Analysis Report Biogen Inc. (BIIB) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Denali Therapeutics Inc. (DNLI) : Free Stock Analysis Report To read this article on Zacks.com click here. A better-ranked stock in the biotech sector is Acadia Pharmaceuticals ACAD, which currently carries a Zacks Rank #2 (Buy). Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. | A better-ranked stock in the biotech sector is Acadia Pharmaceuticals ACAD, which currently carries a Zacks Rank #2 (Buy). Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 20.33%. |
35565.0 | 2023-08-10 00:00:00 UTC | Here's Why Acadia (ACAD) Looks Ripe for Bottom Fishing | ACAD | https://www.nasdaq.com/articles/heres-why-acadia-acad-looks-ripe-for-bottom-fishing | nan | nan | The price trend for Acadia Pharmaceuticals (ACAD) has been bearish lately and the stock has lost 8.9% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.
While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this drugmaker is a solid fundamental factor that enhances the prospects of a trend reversal for the stock.
What is a Hammer Chart and How to Trade It?
This is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'
In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.
When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.
Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.
Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.
Here's What Increases the Odds of a Turnaround for ACAD
There has been an upward trend in earnings estimate revisions for ACAD lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.
Over the last 30 days, the consensus EPS estimate for the current year has increased 24.7%. What it means is that the sell-side analysts covering ACAD are majorly in agreement that the company will report better earnings than they predicted earlier.
If this is not enough, you should note that ACAD currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Moreover, a Zacks Rank of 2 for Acadia is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.
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ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The price trend for Acadia Pharmaceuticals (ACAD) has been bearish lately and the stock has lost 8.9% over the past week. Here's What Increases the Odds of a Turnaround for ACAD There has been an upward trend in earnings estimate revisions for ACAD lately, which can certainly be considered a bullish indicator on the fundamental side. What it means is that the sell-side analysts covering ACAD are majorly in agreement that the company will report better earnings than they predicted earlier. | You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Moreover, a Zacks Rank of 2 for Acadia is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. The price trend for Acadia Pharmaceuticals (ACAD) has been bearish lately and the stock has lost 8.9% over the past week. Here's What Increases the Odds of a Turnaround for ACAD There has been an upward trend in earnings estimate revisions for ACAD lately, which can certainly be considered a bullish indicator on the fundamental side. | If this is not enough, you should note that ACAD currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Moreover, a Zacks Rank of 2 for Acadia is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve. The price trend for Acadia Pharmaceuticals (ACAD) has been bearish lately and the stock has lost 8.9% over the past week. | Here's What Increases the Odds of a Turnaround for ACAD There has been an upward trend in earnings estimate revisions for ACAD lately, which can certainly be considered a bullish indicator on the fundamental side. If this is not enough, you should note that ACAD currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. The price trend for Acadia Pharmaceuticals (ACAD) has been bearish lately and the stock has lost 8.9% over the past week. |
35566.0 | 2023-08-09 00:00:00 UTC | Mirati (MRTX) Q2 Earnings Beat, Stock Up on Solid Krazati Sales | ACAD | https://www.nasdaq.com/articles/mirati-mrtx-q2-earnings-beat-stock-up-on-solid-krazati-sales | nan | nan | Mirati Therapeutics MRTX reported a loss of $3.04 per share for second-quarter 2023, narrower than the Zacks Consensus Estimate of a loss of $3.23 as well as the year-ago quarter’s loss of $3.18 per share.
Mirati reported $13.69 million in revenues for the second quarter, missing the Zacks Consensus Estimate of $13.92 million. Mirati had recorded revenues of $5.4 million in the year-ago quarter.
Quarter in Detail
Second-quarter revenues included $13.4 million as product revenues from Krazati/adagrasib, Mirati’s new cancer drug, compared with $6.3 million in the previous quarter. Revenues increased on robust demand for the product. The FDA approved Krazati, a KRAS G12C inhibitor, to treat adult patients with KRASG12C-mutated locally advanced or metastatic non-small cell lung cancer (NSCLC) in December 2022. No product revenues were recorded in the year-ago quarter.
Mirati’s shares were up 9% in after-hours trading on Tuesday, probably on the strong sales performance of Krazati.
So far this year, the stock price of Mirati has declined 38.6% compared with the industry’s 13% decline.
Image Source: Zacks Investment Research
License and collaboration revenues were $0.3 million in the quarter compared with $5.36 million in the year-ago quarter. License and collaboration revenues represent clinical supply revenues earned under Mirati’s agreement with Zai Lab Limited.
Research and development expenses declined 3.2% from the prior-year quarter’s level to $124.2 million. This decrease was due to a reduction in clinical development costs for sitravatinib as enrollment was completed in the phase III SAPPHIRE study in the second quarter of 2022, and a decrease in share-based compensation.
Selling, general and administrative expenses surged 39.2% from the year-ago quarter’s level to $75.5 million due to an increase in commercial-related costs to support the marketing and sales of Krazati and higher headcount-related costs.
Cash, cash equivalents and short-term investments as of Jun 30, 2023 were $779.4 million compared with $902.3 million as of Mar 31, 2023.
Mirati expects 2023 net cash burn to annualize within a range of $560 million to $580 million (previous expectation: $525-$580 million).
Pipeline Update
A regulatory filing for Krazati is under review in Europe. In July, the European Medicine Agency's Committee for Medicinal Products for Human Use (CHMP) gave a negative opinion regarding granting of conditional marketing authorization Krazati. The CHMP mentioned that though the drug has a favorable risk-benefit profile, it does not meet certain requirements for conditional approval.
Mirati is evaluating the expanded use of adagrasib — both as monotherapy and combinations — in multiple cohorts of the phase I/II KRYSTAL-1 study across multiple solid tumors that harbor KRAS G12C mutations. These include a combination of Krazati with Merck’s MRK Keytruda in NSCLC and Krazati with Bristol-Myers’ BMY Erbitux (cetuximab) in advanced colorectal cancer (CRC). Mirati is on track to complete the supplemental new drug application for third-line and beyond CRC in patients with a KRAS G12C mutation by year-end 2023.
In the second quarter, Mirati shared updated data (as of February 28) from two cohorts of its phase II KRYSTAL-7 study of the combination of adagrasib with Merck’s Keytruda in first-line patients with NSCLC with KRAS G12C mutation. The data showed that patient numbers and median follow-up nearly doubled since the prior update in December 2022. Based on the strong data, the company plans to begin enrolment a phase III study for this combination by 2023.
A phase III registrational study is also ongoing in second-line CRC called KRYSTAL-10, which compares the efficacy of Krazati in combination with Bristol-Myers’ Erbitux (cetuximab) versus standard-of-care chemotherapy. The company is currently enrolling patients in the phase III KRYSTAL-10 study and also KRYSTAL-12 study, which is evaluating Krazati versus docetaxel in second-line NSCLC patients. Top-line results from these studies are expected in 2024.
In May 2023, Mirati announced that the phase III SAPPHIRE study, evaluating its other pipeline candidate sitravatinib plus Bristol-Myers’ Opdivo in patients with second or third-line advanced non-squamous NSCLC, did not achieve its primary endpoint of overall survival. Though management did not disclose any study data along with this announcement, it intends to do so at a future medical meeting.
CEO Departs
Along with the earnings release, the company announced the departure of its current chief executive officer (CEO), David Meek. He will be replaced by Charles Baum, Mirati’s president and founder, who will serve as an interim CEO.
Zacks Rank & Stock to Consider
Mirati currently has a Zacks Rank #3 (Hold).
Mirati Therapeutics, Inc. Price, Consensus and EPS Surprise
Mirati Therapeutics, Inc. price-consensus-eps-surprise-chart | Mirati Therapeutics, Inc. Quote
A better-ranked stock in the biotech sector is ACADIA Pharmaceuticals ACAD, which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 30 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 53 cents to 41 cents, while that for 2024 have improved from a loss of 11 cents to earnings of 47 cents. Year to date, shares of ACADIA Pharmaceuticals have risen 67.9%.
Earnings of ACADIA Pharmaceuticals beat estimates in two of the last four quarters and missed the mark on two occasions. On average, the company witnessed an earnings surprise of 20.33% over the trailing four quarters.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Mirati Therapeutics, Inc. Price, Consensus and EPS Surprise Mirati Therapeutics, Inc. price-consensus-eps-surprise-chart | Mirati Therapeutics, Inc. Quote A better-ranked stock in the biotech sector is ACADIA Pharmaceuticals ACAD, which has a Zacks Rank #2 (Buy). In the past 30 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 53 cents to 41 cents, while that for 2024 have improved from a loss of 11 cents to earnings of 47 cents. Year to date, shares of ACADIA Pharmaceuticals have risen 67.9%. | Mirati Therapeutics, Inc. Price, Consensus and EPS Surprise Mirati Therapeutics, Inc. price-consensus-eps-surprise-chart | Mirati Therapeutics, Inc. Quote A better-ranked stock in the biotech sector is ACADIA Pharmaceuticals ACAD, which has a Zacks Rank #2 (Buy). Click to get this free report Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Mirati Therapeutics, Inc. (MRTX) : Free Stock Analysis Report To read this article on Zacks.com click here. In the past 30 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 53 cents to 41 cents, while that for 2024 have improved from a loss of 11 cents to earnings of 47 cents. | Mirati Therapeutics, Inc. Price, Consensus and EPS Surprise Mirati Therapeutics, Inc. price-consensus-eps-surprise-chart | Mirati Therapeutics, Inc. Quote A better-ranked stock in the biotech sector is ACADIA Pharmaceuticals ACAD, which has a Zacks Rank #2 (Buy). Click to get this free report Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Mirati Therapeutics, Inc. (MRTX) : Free Stock Analysis Report To read this article on Zacks.com click here. In the past 30 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 53 cents to 41 cents, while that for 2024 have improved from a loss of 11 cents to earnings of 47 cents. | Mirati Therapeutics, Inc. Price, Consensus and EPS Surprise Mirati Therapeutics, Inc. price-consensus-eps-surprise-chart | Mirati Therapeutics, Inc. Quote A better-ranked stock in the biotech sector is ACADIA Pharmaceuticals ACAD, which has a Zacks Rank #2 (Buy). In the past 30 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 53 cents to 41 cents, while that for 2024 have improved from a loss of 11 cents to earnings of 47 cents. Year to date, shares of ACADIA Pharmaceuticals have risen 67.9%. |
35567.0 | 2023-08-09 00:00:00 UTC | bluebird (BLUE) Q2 Earnings Top, Zynteglo & Skysona Fuel Revenues | ACAD | https://www.nasdaq.com/articles/bluebird-blue-q2-earnings-top-zynteglo-skysona-fuel-revenues | nan | nan | bluebird bio BLUE delivered a loss of 67 cents per share in the second quarter, narrower than the Zacks Consensus Estimate of a loss of 72 cents per share. The company had delivered a loss of $1.27 per share in the year-ago quarter (excluding restructuring expenses).
The company reported revenues of $6.9 million in the second quarter, up from $1.5 million in the year-ago quarter. The increase of $5.4 million was primarily due to product revenues from Skysona (elivaldogene autotemcel) and Zynteglo (betibeglogene autotemcel). Revenues, however, missed the Zacks Consensus Estimate of $9 million.
The FDA approved Zynteglo and Skysona for the treatment of beta-thalassemia in adult and pediatric patients requiring regular red blood cell transfusions and for treating early, active cerebral adrenoleukodystrophy on Aug 17, 2022 and Sept 16, 2022, respectively.
Shares of BLUE have plunged 43.8% so far this year compared with the industry’s 13.1% decline.
Image Source: Zacks Investment Research
Quarter in Detail
Research and development expenses declined by 33.8% to $42.3 million due to manufacturing costs related to Skysona and Zynteglo (now included in inventory and cost of product revenues), reduced employee compensation, benefit and other headcount-related expenses and a decrease in information technology and facility-related costs in 2023.
Selling, general and administrative expenses increased to $40.3 million from $36.7 million in the year-ago quarter due to commercial costs driven by marketing activities for Skysona and Zynteglo in the United States.
As of Jun 30, 2023, bluebird had cash and cash equivalents, marketable securities and a restricted cash balance of approximately $291 million, down from $364 million. Based on current operating plans, bluebird expects its cash, cash equivalents, restricted cash and marketable securities to be sufficient to meet its planned operating expenses and capital expenditure requirements into the fourth quarter of 2024. This runway includes approximately $45 million in restricted cash.
Excluding the same, bluebird estimates cash runway into the second quarter of 2024.
bluebird bio, Inc. Price, Consensus and EPS Surprise
bluebird bio, Inc. price-consensus-eps-surprise-chart | bluebird bio, Inc. Quote
Other Updates
In Jun 2023, bluebird bio announced that the FDA accepted for priority review the company’s biologics license application seeking approval for gene therapy lovotibeglogene autotemcel (lovo-cel) for patients with sickle cell disease. bluebird is pursuing FDA approval for lovo-cel for patients aged 12 and older who have a history of vaso-occlusive events. The regulatory body has set a target action date of Dec 20, 2023.
The priority review will shorten the FDA’s review of the application to six months from the time of filing versus a standard review timeline of 10 months. The company continues to anticipate a commercial launch in early 2024.
bluebird has made significant progress in the launch of Zynteglo with 11 patient starts (cell collections) for individuals suffering from beta-thalassemia.
The first commercial infusion for Syksona was completed in March 2023. Cell collection has been completed for five patients to be treated with Skysona. bluebird continues to anticipate 5-10 patient starts this year.
Zacks Rank and Stocks to Consider
bluebird currently has a Zacks Rank #3 (Hold).
Some top-ranked stocks in the healthcare sector include Acadia Pharmaceuticals ACAD, Amicus Therapeutics FOLD and Dynavax Technologies DVAX, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 20.33%.
Over the past 90 days, loss estimates for FOLD in 2023 have increased by 21 cents to 48 cents. FOLD topped earnings estimates in two of the last four quarters, missing the other two. Shares of Amicus have gained 13.5% in the year so far.
Over the past 30 days, loss estimates for DVAX have narrowed to 34 cents from 56 cents. Shares of Dynavax have gained 40% in the year so far.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some top-ranked stocks in the healthcare sector include Acadia Pharmaceuticals ACAD, Amicus Therapeutics FOLD and Dynavax Technologies DVAX, each carrying a Zacks Rank #2 (Buy). Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 20.33%. | Some top-ranked stocks in the healthcare sector include Acadia Pharmaceuticals ACAD, Amicus Therapeutics FOLD and Dynavax Technologies DVAX, each carrying a Zacks Rank #2 (Buy). Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Amicus Therapeutics, Inc. (FOLD) : Free Stock Analysis Report bluebird bio, Inc. (BLUE) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. | Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Amicus Therapeutics, Inc. (FOLD) : Free Stock Analysis Report bluebird bio, Inc. (BLUE) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Some top-ranked stocks in the healthcare sector include Acadia Pharmaceuticals ACAD, Amicus Therapeutics FOLD and Dynavax Technologies DVAX, each carrying a Zacks Rank #2 (Buy). Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. | Some top-ranked stocks in the healthcare sector include Acadia Pharmaceuticals ACAD, Amicus Therapeutics FOLD and Dynavax Technologies DVAX, each carrying a Zacks Rank #2 (Buy). Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 20.33%. |
35568.0 | 2023-08-09 00:00:00 UTC | Nektar Therapeutics (NKTR) Q2 Loss Narrows, Sales Miss | ACAD | https://www.nasdaq.com/articles/nektar-therapeutics-nktr-q2-loss-narrows-sales-miss | nan | nan | Nektar Therapeutics NKTR reported a loss of 27 cents per share for the second quarter of 2023, which was narrower than the Zacks Consensus Estimate of a loss of 30 cents. In the year-ago quarter, the loss was 85 cents per share.
Quarterly revenues declined 5% year over year to $20.5 million during the quarter. Revenues missed the Zacks Consensus Estimate of $20.9 million.
Quarter in Detail
In the second quarter, product sales declined 12.3% from the year-ago quarter’s levels to $4.7 million. Product revenues beat our model estimate of $3.6 million.
Non-cash royalty revenues were $15.8 million, down 2.7% from the year-ago quarter. Non-cash royalty revenues were slightly better than our model estimate of $15.5 million.
License, collaboration and other revenues were negligible in the quarter.
Research and development (R&D) expenses declined 30.4% to $29.7 million due to the winding down of the development of bempegaldesleukin (bempeg). Bempeg failed in three late-stage registrational studies in the first quarter of 2022. Following these failures, Nektar stopped all clinical studies on bempeg in April 2022.
General and administrative (G&A) expenses declined 12.7% year over year to $17.9 million due to the discontinuation of the development of bempeg.
Cash and investments in marketable securities as of Jun 30, 2023 were $409.4 million compared with $457 million as of Mar 31, 2023.
Nektar’s shares declined 3.7% in after-market hours in response to the results. Shares of Nektar Therapeutics have declined 55.7% so far this year compared with the industry’s 3.5% decrease.
Image Source: Zacks Investment Research
Pipeline Update
Nektar has two key candidates in its pipeline, rezpegaldesleukin (rezpeg, formerly NKTR-358) and NKTR-255.
The company regained full rights to rezpeg from Eli Lily LLY in April 2023, and will now take charge of its clinical development. Rezpeg is now a wholly owned asset of Nektar, and the latter owes no royalty payments to Lilly.
On Tuesday, Nektar said that the efficacy data previously generated by Eli Lilly from rezpeg studies was miscalculated for both atopic dermatitis and psoriasis. Nektar claimed that an independent statistical firm (employed to analyze the raw data) discovered the data errors, which Lilly confirmed in writing. The correct data from the atopic dermatitis study demonstrated that 12 weeks of treatment with rezpeg, at the highest dose, resulted in a mean EASI score improvement of 83% and an EASI 75 response rate of 41%. EASI is a validated and widely used standard measurement for atopic dermatitis studies. Importantly, the corrected data showed that rezpeg provided a rapid and steep drop in EASI scores immediately after the initiation of therapy.
Nektar plans to begin a phase IIb study in patients with moderate-to-severe atopic dermatitis (AS) this year. Initial data from this study is expected to be released in the first half of 2025. Nektar plans to explore rezpeg in other autoimmune indications in the future.
NKTR-255 is being developed in phase II studies in liquid and solid tumors. Key ongoing studies with partner Merck KGaA include a phase II study in combination with cell therapies and the phase II JAVELIN Bladder Medley study. Nektar is evaluating strategic partnership options for NKTR-255 while continuing the phase II studies.
In April, Nektar announced new strategic reprioritization and cost reduction initiatives that focus on programs in immunology, including rezpeg, and also extend its cash runway through at least the middle of 2026. Nektar plans to advance its next pipeline candidate in immunology with an investigational new drug application filing in 2024
2023 Guidance Maintained
In 2023, Nektar expects revenues to be between $80 million and $90 million, which includes $65 million to $70 million in non-cash royalties and $15 million to $20 million in product sales.
R&D costs are expected to range between $105 million and $115 million, while G&A costs are expected to be between $75 million and $80 million. Nektar expects to end 2023 with at least $315 million in cash and investments.
Zacks Rank & Stocks to Consider
Nektar Therapeutics currently has a Zacks Rank #3 (Hold).
Nektar Therapeutics Price, Consensus and EPS Surprise
Nektar Therapeutics price-consensus-eps-surprise-chart | Nektar Therapeutics Quote
Some better-ranked biotech companies are ACADIA Pharmaceuticals ACAD and Axsome Therapeutics AXSM, both with a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 30 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 53 cents to 41 cents, while that for 2024 have improved from a loss of 11 cents to earnings of 47 cents. Year to date, shares of ACADIA Pharmaceuticals have risen 67.9%.
Earnings of ACADIA Pharmaceuticals beat estimates in two of the last four quarters and missed the mark on two occasions. On average, the company witnessed an earnings surprise of 20.33% over the trailing four quarters.
In the past 30 days, estimates for Axsome Therapeutics’ 2023 loss per share have narrowed from $3.96 to $3.79, while that for 2024 have improved from a loss of $1.59 to $1.58. Year to date, shares of Axsome Therapeutics have declined 5.9%.
AXSM beat estimates in three of the last four quarters, delivering an earnings surprise of 24.44%, on average.
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Eli Lilly and Company (LLY) : Free Stock Analysis Report
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Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nektar Therapeutics Price, Consensus and EPS Surprise Nektar Therapeutics price-consensus-eps-surprise-chart | Nektar Therapeutics Quote Some better-ranked biotech companies are ACADIA Pharmaceuticals ACAD and Axsome Therapeutics AXSM, both with a Zacks Rank #2 (Buy). In the past 30 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 53 cents to 41 cents, while that for 2024 have improved from a loss of 11 cents to earnings of 47 cents. Year to date, shares of ACADIA Pharmaceuticals have risen 67.9%. | Click to get this free report Eli Lilly and Company (LLY) : Free Stock Analysis Report Nektar Therapeutics (NKTR) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report To read this article on Zacks.com click here. Nektar Therapeutics Price, Consensus and EPS Surprise Nektar Therapeutics price-consensus-eps-surprise-chart | Nektar Therapeutics Quote Some better-ranked biotech companies are ACADIA Pharmaceuticals ACAD and Axsome Therapeutics AXSM, both with a Zacks Rank #2 (Buy). In the past 30 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 53 cents to 41 cents, while that for 2024 have improved from a loss of 11 cents to earnings of 47 cents. | Nektar Therapeutics Price, Consensus and EPS Surprise Nektar Therapeutics price-consensus-eps-surprise-chart | Nektar Therapeutics Quote Some better-ranked biotech companies are ACADIA Pharmaceuticals ACAD and Axsome Therapeutics AXSM, both with a Zacks Rank #2 (Buy). Click to get this free report Eli Lilly and Company (LLY) : Free Stock Analysis Report Nektar Therapeutics (NKTR) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report To read this article on Zacks.com click here. In the past 30 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 53 cents to 41 cents, while that for 2024 have improved from a loss of 11 cents to earnings of 47 cents. | Nektar Therapeutics Price, Consensus and EPS Surprise Nektar Therapeutics price-consensus-eps-surprise-chart | Nektar Therapeutics Quote Some better-ranked biotech companies are ACADIA Pharmaceuticals ACAD and Axsome Therapeutics AXSM, both with a Zacks Rank #2 (Buy). In the past 30 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 53 cents to 41 cents, while that for 2024 have improved from a loss of 11 cents to earnings of 47 cents. Year to date, shares of ACADIA Pharmaceuticals have risen 67.9%. |
35569.0 | 2023-08-09 00:00:00 UTC | FATE Q2 Earnings Beat on Lower Expenses, Revenues Miss | ACAD | https://www.nasdaq.com/articles/fate-q2-earnings-beat-on-lower-expenses-revenues-miss | nan | nan | Fate Therapeutics FATE reported a loss of 54 cents per share in the second quarter of 2023, narrower than the Zacks Consensus Estimate of a loss of 58 cents and the year-ago loss of 79 cents.
The loss narrowed year over year due to lower R&D expenses.
The company earned collaboration revenues of $0.9 million in the second quarter, which missed the Zacks Consensus Estimate of $7 million and was down from $18.5 million reported in the year-ago quarter.
Revenues were derived from the company’s preclinical development activities for a second collaboration candidate targeting an undisclosed solid tumor antigen under its collaboration with ONO Pharmaceutical.
R&D expenses declined 49.7% to $40.9 million in the year-ago quarter. G&A expenses increased 11.1% to $22.6 million.
Cash, cash equivalents and investments as of Jun 30, 2023, were $385.2 million.
Shares of Fate have plunged 65% year to date compared with the industry’s decline of 13.1%.
Image Source: Zacks Investment Research
Pipeline Update
FATE is focused on the development and manufacture of universal, off-the-shelf cell products using its proprietary induced pluripotent stem cell (iPSC) product platform. Its immuno-oncology pipeline includes off-the-shelf, iPSC-derived natural killer (NK) cells and T-cell product candidates. These candidates are designed to synergize with well-established cancer therapies, including immune checkpoint inhibitors and monoclonal antibodies and to target tumor-associated antigens using chimeric antigen receptors (CARs).
In May, the FDA accepted the company’s investigational new drug (IND) application to evaluate FT522 in combination with CD20-targeted monoclonal antibody therapy in patients with relapsed/refractory B-cell lymphoma. The dose-escalation stage of the study is designed to assess the safety and activity of FT522 with and without the administration of intensive conditioning chemotherapy to patients. Fate is conducting phase I study start-up activities at multiple sites and plans to initiate patient enrollment with a three-dose treatment schedule at 300 million cells per dose.
The phase I study on FT576, a multiplexed-engineered, B-cell maturation antigen-targeted CAR NK cell product candidate for relapsed/refractory multiple myeloma, is currently enrolling patients.
Fate Therapeutics, Inc. Price, Consensus and EPS Surprise
Fate Therapeutics, Inc. price-consensus-eps-surprise-chart | Fate Therapeutics, Inc. Quote
A phase I study of FT819, a T-cell product candidate manufactured from a clonal master iPSC line, is currently enrolling patients in single-dose escalation cohorts at 540 million cells in B-cell lymphoma and at 360 million cells in chronic lymphocytic leukemia.
With ONO Pharmaceutical, Fate is co-developing FT825/ONO-8250, a multiplexed-engineered, iPSC-derived CAR T-cell product candidate targeting human epidermal growth factor receptor 2 (HER2)-expressing solid tumors. IND-enabling activities for FT825/ONO-8250 are underway and both companies expect to submit an IND application to the FDA in the second half of 2023 to jointly commence a phase I study for the treatment of patients with HER2-positive solid tumors.
We remind investors that, in January 2023, Fate announced the termination of its agreement with Janssen. Both companies signed an agreement in April 2020 to collaborate on the development of iPSC-derived CAR NK- and CAR T-cell product candidates for the treatment of cancer.
In connection with the termination of its collaboration with Janssen Biotech, Fate discontinued all collaboration activities, including withdrawing an IND application, which was previously allowed by the FDA for a first collaboration product for treating B-cell lymphoma.
Following a strategic review of its wholly-owned iPSC-derived NK cell and T-cell programs, Fate has also decided to discontinue FT516, FT596, FT538 and FT536 NK cell product candidates. As part of its corporate restructuring, the company reduced its workforce to approximately 220 employees.
Zacks Rank & Stocks To Consider
Fate currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are Acadia Pharmaceuticals ACAD, Amicus Therapeutics FOLD and Dynavax Technologies DVAX, currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 20.33%.
Over the past 90 days, loss estimates for FOLD in 2023 have increased by 21 cents to 48 cents. FOLD topped earnings estimates in two of the last four quarters, missing the other two. Shares of Amicus gained 13.5% in the year so far.
Over the past 30 days, earnings estimates for DVAX have narrowed to 34 cents from 56 cents. Shares of Dynavax have gained 40% in the year so far.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the healthcare sector are Acadia Pharmaceuticals ACAD, Amicus Therapeutics FOLD and Dynavax Technologies DVAX, currently carrying a Zacks Rank #2 (Buy). Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 20.33%. | Some better-ranked stocks in the healthcare sector are Acadia Pharmaceuticals ACAD, Amicus Therapeutics FOLD and Dynavax Technologies DVAX, currently carrying a Zacks Rank #2 (Buy). Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Amicus Therapeutics, Inc. (FOLD) : Free Stock Analysis Report Fate Therapeutics, Inc. (FATE) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. | Click to get this free report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report Amicus Therapeutics, Inc. (FOLD) : Free Stock Analysis Report Fate Therapeutics, Inc. (FATE) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector are Acadia Pharmaceuticals ACAD, Amicus Therapeutics FOLD and Dynavax Technologies DVAX, currently carrying a Zacks Rank #2 (Buy). Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. | Some better-ranked stocks in the healthcare sector are Acadia Pharmaceuticals ACAD, Amicus Therapeutics FOLD and Dynavax Technologies DVAX, currently carrying a Zacks Rank #2 (Buy). Over the past 60 days, loss estimates for ACAD have narrowed to 41 cents from 56 cents for 2023. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 20.33%. |
35570.0 | 2023-08-09 00:00:00 UTC | Amicus (FOLD) Misses on Q2 Earnings, Raises Revenue Guidance | ACAD | https://www.nasdaq.com/articles/amicus-fold-misses-on-q2-earnings-raises-revenue-guidance | nan | nan | Amicus Therapeutics FOLD reported a second-quarter 2023 loss of 15 cents per share, wider than the Zacks Consensus Estimate of a loss of 12 cents. The company reported a loss of 21 cents per share in the year-ago quarter.
The year-over-year improvement can be attributed to revenue growth in Galafold and careful expense management by the company.
Revenues in the quarter totaled $94.5 million, up 17% year over year. The figure beat the Zacks Consensus Estimate of $90 million. The top line comprised of sales of Galafold (migalastat), approved for Fabry disease. On a constant-currency (cc) basis, total year-over-year revenue growth was also 17%.
Quarter in Details
Galafold revenues beat our model estimate of $89.6 million.
Adjusted research and development expenses decreased 58% year over year to $31 million.
Adjusted selling, general and administrative expenses totaled almost $53 million, up 17% from the year-ago quarter’s level.
As of Jun 30, 2023, Amicus had cash, cash equivalents and marketable securities worth $265.6 million compared with $267.1 million as of Mar 31, 2023.
Updates 2023 Guidance
The company updated its previously issued guidance for 2023, reflecting strong performance of Galafold.
Shares of Amicus were up almost 10.5% on Aug 8, soon after the company reported earnings. The stock gained 13.5% in the year-to-date period against the industry’s 13% decline.
Image Source: Zacks Investment Research
FOLD now expects total Galafold revenue growth of 14-18% at cc, up from the previous projection of 12-17%. This was driven by continued underlying demand from both switch and treatment-naïve patients, geographic expansion, label extensions, continued diagnosis of new Fabry patients, and commercial execution across all major markets, including EU, Japan, the U.K. and the United States.
Adjusted operating expenses are estimated in the band of $330-$350 million, down from the previously estimated range of $340-$360 million.
The company plans on achieving profitability on a non-GAAP basis in the second half of 2023.
Other Updates
The lead pipeline candidate in Amicus’ portfolio is AT-GAA with two components — cipaglucosidase alfa and miglustat. The candidate is being developed as a potential treatment for Pompe disease.
In the quarter, FOLD received approval for Opfolda (miglustat) from the European Commission to treat the adult late-onset Pompe disease (LOPD). Earlier in March, Pombiliti (cipaglucosidase alfa) was also approved in Europe for LOPD. Management is moving forward with the launch of Pombiliti + Opfolda in Europe.
The biologics license application (BLA) and new drug application (NDA) for the two components of AT-GAA were accepted by the FDA in September 2021.The FDA has deferred the dates of the NDA and BLA. Amicus completed the required pre-approval inspection of the WuXi Biologics manufacturing site in China.
Management expects regulatory approval and the launch of AT-GAA in the United States in the third quarter of 2023.
Amicus Therapeutics, Inc. Price and Consensus
Amicus Therapeutics, Inc. price-consensus-chart | Amicus Therapeutics, Inc. Quote
Zacks Rank & Other Stocks to Consider
Amicus currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and ImmunoGen IMGN, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate for ADC Therapeutics has narrowed from a loss of $2.77 per share to a loss of $2.61 for 2023. The consensus estimate has narrowed from a loss of $2.59 per share to a loss of $2.55 for 2024 during the same time frame. Shares of the company have lost 58.3% year to date.
ADCT’s earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 10.70%.
In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 41 cents for 2023. The consensus estimate has improved from a loss of 9 cents per share to a profit of 47 cents for 2024 during the same time frame. Shares of the company have rallied 67.9% year to date.
ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 20.33%.
In the past 90 days, the Zacks Consensus Estimate for ImmunoGen has narrowed from a loss of 55 cents per share to a loss of 21 cents for 2023. The consensus estimate has improved from a loss of 31 cents per share to a profit of 3 cents for 2024 during the same time frame. Shares of the company have rallied 185.1% year to date.
IMGN’s earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 31.24%.
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One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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ADC Therapeutics SA (ADCT) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other top-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and ImmunoGen IMGN, each carrying a Zacks Rank #2 at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 41 cents for 2023. ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 20.33%. | Some other top-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and ImmunoGen IMGN, each carrying a Zacks Rank #2 at present. Click to get this free report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ImmunoGen, Inc. (IMGN) : Free Stock Analysis Report Amicus Therapeutics, Inc. (FOLD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 41 cents for 2023. | Click to get this free report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ImmunoGen, Inc. (IMGN) : Free Stock Analysis Report Amicus Therapeutics, Inc. (FOLD) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Some other top-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and ImmunoGen IMGN, each carrying a Zacks Rank #2 at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 41 cents for 2023. | Some other top-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and ImmunoGen IMGN, each carrying a Zacks Rank #2 at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 41 cents for 2023. ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 20.33%. |
35571.0 | 2023-08-07 00:00:00 UTC | JP Morgan Maintains Acadia Pharmaceuticals (ACAD) Neutral Recommendation | ACAD | https://www.nasdaq.com/articles/jp-morgan-maintains-acadia-pharmaceuticals-acad-neutral-recommendation | nan | nan | Fintel reports that on August 7, 2023, JP Morgan maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Neutral recommendation.
Analyst Price Forecast Suggests 14.04% Upside
As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. The forecasts range from a low of 12.12 to a high of $44.10. The average price target represents an increase of 14.04% from its latest reported closing price of 27.19.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. The projected annual non-GAAP EPS is -0.80.
For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 28 owner(s) or 5.88% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.20%, an increase of 2.01%. Total shares owned by institutions decreased in the last three months by 0.77% to 163,706K shares.
The put/call ratio of ACAD is 0.66, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 41,938K shares representing 25.79% ownership of the company. In it's prior filing, the firm reported owning 41,923K shares, representing an increase of 0.04%. The firm increased its portfolio allocation in ACAD by 7.14% over the last quarter.
Rtw Investments holds 8,243K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 3,671K shares, representing an increase of 55.47%. The firm increased its portfolio allocation in ACAD by 170.78% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.68% ownership of the company. No change in the last quarter.
D. E. Shaw holds 4,901K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 4,219K shares, representing an increase of 13.90%. The firm increased its portfolio allocation in ACAD by 4.72% over the last quarter.
Price T Rowe Associates holds 4,551K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 4,279K shares, representing an increase of 5.97%. The firm increased its portfolio allocation in ACAD by 17.00% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
Additional reading:
Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd.
Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree
Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first
Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP
PROCEEDS AGREEMENT
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on August 7, 2023, JP Morgan maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Neutral recommendation. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP | Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP Fintel reports that on August 7, 2023, JP Morgan maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Neutral recommendation. Analyst Price Forecast Suggests 14.04% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. | Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP Fintel reports that on August 7, 2023, JP Morgan maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Neutral recommendation. Analyst Price Forecast Suggests 14.04% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. | For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. Fintel reports that on August 7, 2023, JP Morgan maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Neutral recommendation. |
35572.0 | 2023-08-03 00:00:00 UTC | HC Wainwright & Co. Reiterates Acadia Pharmaceuticals (ACAD) Buy Recommendation | ACAD | https://www.nasdaq.com/articles/hc-wainwright-co.-reiterates-acadia-pharmaceuticals-acad-buy-recommendation-0 | nan | nan | Fintel reports that on August 3, 2023, HC Wainwright & Co. reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation.
Analyst Price Forecast Suggests 6.19% Upside
As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. The forecasts range from a low of 12.12 to a high of $44.10. The average price target represents an increase of 6.19% from its latest reported closing price of 29.20.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. The projected annual non-GAAP EPS is -0.80.
For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 29 owner(s) or 6.11% in the last quarter. Average portfolio weight of all funds de | Fintel reports that on August 3, 2023, HC Wainwright & Co. reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. | Analyst Price Forecast Suggests 6.19% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. Fintel reports that on August 3, 2023, HC Wainwright & Co. reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation. | Analyst Price Forecast Suggests 6.19% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. Fintel reports that on August 3, 2023, HC Wainwright & Co. reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation. | Analyst Price Forecast Suggests 6.19% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. |
35573.0 | 2023-08-03 00:00:00 UTC | Morgan Stanley Reiterates Acadia Pharmaceuticals (ACAD) Equal-Weight Recommendation | ACAD | https://www.nasdaq.com/articles/morgan-stanley-reiterates-acadia-pharmaceuticals-acad-equal-weight-recommendation | nan | nan | Fintel reports that on August 3, 2023, Morgan Stanley reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 6.19% Upside
As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. The forecasts range from a low of 12.12 to a high of $44.10. The average price target represents an increase of 6.19% from its latest reported closing price of 29.20.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. The projected annual non-GAAP EPS is -0.80.
For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 29 owner(s) or 6.11% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.20%, an increase of 4.80%. Total shares owned by institutions decreased in the last three months by 0.52% to 163,686K shares.
The put/call ratio of ACAD is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 41,938K shares representing 25.79% ownership of the company. In it's prior filing, the firm reported owning 41,923K shares, representing an increase of 0.04%. The firm increased its portfolio allocation in ACAD by 7.14% over the last quarter.
Rtw Investments holds 8,243K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 3,671K shares, representing an increase of 55.47%. The firm increased its portfolio allocation in ACAD by 170.78% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.68% ownership of the company. No change in the last quarter.
D. E. Shaw holds 4,901K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 4,219K shares, representing an increase of 13.90%. The firm increased its portfolio allocation in ACAD by 4.72% over the last quarter.
Price T Rowe Associates holds 4,551K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 4,279K shares, representing an increase of 5.97%. The firm increased its portfolio allocation in ACAD by 17.00% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
Additional reading:
Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd.
Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree
Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first
Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP
PROCEEDS AGREEMENT
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on August 3, 2023, Morgan Stanley reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Equal-Weight recommendation. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP | Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP Fintel reports that on August 3, 2023, Morgan Stanley reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Equal-Weight recommendation. Analyst Price Forecast Suggests 6.19% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. | Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP Fintel reports that on August 3, 2023, Morgan Stanley reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Equal-Weight recommendation. Analyst Price Forecast Suggests 6.19% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. | For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. Fintel reports that on August 3, 2023, Morgan Stanley reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Equal-Weight recommendation. |
35574.0 | 2023-08-03 00:00:00 UTC | Canaccord Genuity Maintains Acadia Pharmaceuticals (ACAD) Buy Recommendation | ACAD | https://www.nasdaq.com/articles/canaccord-genuity-maintains-acadia-pharmaceuticals-acad-buy-recommendation | nan | nan | Fintel reports that on August 3, 2023, Canaccord Genuity maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation.
Analyst Price Forecast Suggests 6.19% Upside
As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. The forecasts range from a low of 12.12 to a high of $44.10. The average price target represents an increase of 6.19% from its latest reported closing price of 29.20.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. The projected annual non-GAAP EPS is -0.80.
For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 29 owner(s) or 6.11% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.20%, an increase of 4.80%. Total shares owned by institutions decreased in the last three months by 0.52% to 163,686K shares.
The put/call ratio of ACAD is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 41,938K shares representing 25.79% ownership of the company. In it's prior filing, the firm reported owning 41,923K shares, representing an increase of 0.04%. The firm increased its portfolio allocation in ACAD by 7.14% over the last quarter.
Rtw Investments holds 8,243K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 3,671K shares, representing an increase of 55.47%. The firm increased its portfolio allocation in ACAD by 170.78% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.68% ownership of the company. No change in the last quarter.
D. E. Shaw holds 4,901K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 4,219K shares, representing an increase of 13.90%. The firm increased its portfolio allocation in ACAD by 4.72% over the last quarter.
Price T Rowe Associates holds 4,551K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 4,279K shares, representing an increase of 5.97%. The firm increased its portfolio allocation in ACAD by 17.00% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
Additional reading:
Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd.
Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree
Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first
Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP
PROCEEDS AGREEMENT
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on August 3, 2023, Canaccord Genuity maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP | Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP Fintel reports that on August 3, 2023, Canaccord Genuity maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation. Analyst Price Forecast Suggests 6.19% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. | Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP Fintel reports that on August 3, 2023, Canaccord Genuity maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation. Analyst Price Forecast Suggests 6.19% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. | For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. Fintel reports that on August 3, 2023, Canaccord Genuity maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation. |
35575.0 | 2023-08-03 00:00:00 UTC | Oppenheimer Reiterates Acadia Pharmaceuticals (ACAD) Perform Recommendation | ACAD | https://www.nasdaq.com/articles/oppenheimer-reiterates-acadia-pharmaceuticals-acad-perform-recommendation | nan | nan | Fintel reports that on August 3, 2023, Oppenheimer reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Perform recommendation.
Analyst Price Forecast Suggests 6.19% Upside
As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. The forecasts range from a low of 12.12 to a high of $44.10. The average price target represents an increase of 6.19% from its latest reported closing price of 29.20.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. The projected annual non-GAAP EPS is -0.80.
For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 29 owner(s) or 6.11% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.20%, an increase of 4.80%. Total shares owned by institutions decreased in the last three months by 0.52% to 163,686K shares.
The put/call ratio of ACAD is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 41,938K shares representing 25.79% ownership of the company. In it's prior filing, the firm reported owning 41,923K shares, representing an increase of 0.04%. The firm increased its portfolio allocation in ACAD by 7.14% over the last quarter.
Rtw Investments holds 8,243K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 3,671K shares, representing an increase of 55.47%. The firm increased its portfolio allocation in ACAD by 170.78% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.68% ownership of the company. No change in the last quarter.
D. E. Shaw holds 4,901K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 4,219K shares, representing an increase of 13.90%. The firm increased its portfolio allocation in ACAD by 4.72% over the last quarter.
Price T Rowe Associates holds 4,551K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 4,279K shares, representing an increase of 5.97%. The firm increased its portfolio allocation in ACAD by 17.00% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
Additional reading:
Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd.
Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree
Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first
Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP
PROCEEDS AGREEMENT
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on August 3, 2023, Oppenheimer reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Perform recommendation. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP | Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP Fintel reports that on August 3, 2023, Oppenheimer reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Perform recommendation. Analyst Price Forecast Suggests 6.19% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. | Additional reading: Joint Venture and License Agreement, dated July 13, 2023, by and between the Registrant and Neuren Pharmaceuticals Ltd. Acadia Pharmaceuticals Reports Second Quarter 2023 Financial Results and Operating Overview - 2Q23 DAYBUE™ (trofinetide) net product sales of $23.2 million - 2Q23 NUPLAZID® (pimavanserin) net product sales of $142.0 million - Expanded licensing agree Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP Fintel reports that on August 3, 2023, Oppenheimer reiterated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Perform recommendation. Analyst Price Forecast Suggests 6.19% Upside As of August 2, 2023, the average one-year price target for Acadia Pharmaceuticals is 31.01. | The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 8.38%. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. |
35576.0 | 2023-08-02 00:00:00 UTC | Acadia Pharmaceuticals (ACAD) Q2 Earnings and Revenues Beat Estimates | ACAD | https://www.nasdaq.com/articles/acadia-pharmaceuticals-acad-q2-earnings-and-revenues-beat-estimates | nan | nan | Acadia Pharmaceuticals (ACAD) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.12 per share. This compares to loss of $0.21 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 108.33%. A quarter ago, it was expected that this drugmaker would post a loss of $0.21 per share when it actually produced a loss of $0.27, delivering a surprise of -28.57%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Acadia, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $165.24 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 7.08%. This compares to year-ago revenues of $134.56 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Acadia shares have added about 81.8% since the beginning of the year versus the S&P 500's gain of 19.2%.
What's Next for Acadia?
While Acadia has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Acadia: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.10 on $171.64 million in revenues for the coming quarter and -$0.31 on $612.52 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 44% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Pliant Therapeutics, Inc. (PLRX), another stock in the same industry, has yet to report results for the quarter ended June 2023.
This company is expected to post quarterly loss of $0.73 per share in its upcoming report, which represents a year-over-year change of +11%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Pliant Therapeutics, Inc.'s revenues are expected to be $1.1 million, down 78% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals (ACAD) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.12 per share. Acadia, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $165.24 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 7.08%. Acadia shares have added about 81.8% since the beginning of the year versus the S&P 500's gain of 19.2%. | Acadia, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $165.24 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 7.08%. Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Pliant Therapeutics, Inc. (PLRX) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals (ACAD) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.12 per share. | Acadia Pharmaceuticals (ACAD) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.12 per share. Acadia, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $165.24 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 7.08%. Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Pliant Therapeutics, Inc. (PLRX) : Free Stock Analysis Report To read this article on Zacks.com click here. | Acadia Pharmaceuticals (ACAD) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.12 per share. While Acadia has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Acadia, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $165.24 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 7.08%. |
35577.0 | 2023-08-02 00:00:00 UTC | Acadia Pharmaceuticals (ACAD) Price Target Increased by 22.71% to 31.01 | ACAD | https://www.nasdaq.com/articles/acadia-pharmaceuticals-acad-price-target-increased-by-22.71-to-31.01 | nan | nan | The average one-year price target for Acadia Pharmaceuticals (NASDAQ:ACAD) has been revised to 31.01 / share. This is an increase of 22.71% from the prior estimate of 25.27 dated July 5, 2023.
The price target is an average of many targets provided by analysts. The latest targets range from a low of 12.12 to a high of 44.10 / share. The average price target represents an increase of 6.05% from the latest reported closing price of 29.24 / share.
For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 30 owner(s) or 6.33% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.20%, an increase of 4.86%. Total shares owned by institutions decreased in the last three months by 0.33% to 163,982K shares.
The put/call ratio of ACAD is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 41,938K shares representing 25.79% ownership of the company. In it's prior filing, the firm reported owning 41,923K shares, representing an increase of 0.04%. The firm increased its portfolio allocation in ACAD by 7.14% over the last quarter.
Rtw Investments holds 8,243K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 3,671K shares, representing an increase of 55.47%. The firm increased its portfolio allocation in ACAD by 170.78% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.68% ownership of the company. No change in the last quarter.
D. E. Shaw holds 4,901K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 4,219K shares, representing an increase of 13.90%. The firm increased its portfolio allocation in ACAD by 4.72% over the last quarter.
Price T Rowe Associates holds 4,551K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 4,279K shares, representing an increase of 5.97%. The firm increased its portfolio allocation in ACAD by 17.00% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
Additional reading:
Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first
Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP
PROCEEDS AGREEMENT
Acadia Pharmaceuticals Reports First Quarter 2023 Financial Results and Operating Overview - 1Q23 NUPLAZID® net sales of $118.5 million - Announced the U.S. FDA Approval of DAYBUE™ (trofinetide) for the Treatment of Rett Syndrome in Adult and Pediatr
Acadia Pharmaceuticals Reports Fourth Quarter and Full Year 2022 Financial Results and Operating Overview - Full year 2022 net sales of $517.2 million, an increase of 7% over 2021 - Prescription Drug User Fee Act (PDUFA) action date set for March 12,
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. Additional reading: Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP Acadia Pharmaceuticals Reports First Quarter 2023 Financial Results and Operating Overview - 1Q23 NUPLAZID® net sales of $118.5 million - Announced the U.S. FDA Approval of DAYBUE™ (trofinetide) for the Treatment of Rett Syndrome in Adult and Pediatr Acadia Pharmaceuticals Reports Fourth Quarter and Full Year 2022 Financial Results and Operating Overview - Full year 2022 net sales of $517.2 million, an increase of 7% over 2021 - Prescription Drug User Fee Act (PDUFA) action date set for March 12, This story originally appeared on Fintel. | Acadia Pharmaceuticals Reports First Quarter 2023 Financial Results and Operating Overview - 1Q23 NUPLAZID® net sales of $118.5 million - Announced the U.S. FDA Approval of DAYBUE™ (trofinetide) for the Treatment of Rett Syndrome in Adult and Pediatr Acadia Pharmaceuticals Reports Fourth Quarter and Full Year 2022 Financial Results and Operating Overview - Full year 2022 net sales of $517.2 million, an increase of 7% over 2021 - Prescription Drug User Fee Act (PDUFA) action date set for March 12, This story originally appeared on Fintel. The average one-year price target for Acadia Pharmaceuticals (NASDAQ:ACAD) has been revised to 31.01 / share. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. | Acadia Pharmaceuticals Reports First Quarter 2023 Financial Results and Operating Overview - 1Q23 NUPLAZID® net sales of $118.5 million - Announced the U.S. FDA Approval of DAYBUE™ (trofinetide) for the Treatment of Rett Syndrome in Adult and Pediatr Acadia Pharmaceuticals Reports Fourth Quarter and Full Year 2022 Financial Results and Operating Overview - Full year 2022 net sales of $517.2 million, an increase of 7% over 2021 - Prescription Drug User Fee Act (PDUFA) action date set for March 12, This story originally appeared on Fintel. The average one-year price target for Acadia Pharmaceuticals (NASDAQ:ACAD) has been revised to 31.01 / share. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. | There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. The average one-year price target for Acadia Pharmaceuticals (NASDAQ:ACAD) has been revised to 31.01 / share. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. |
35578.0 | 2023-07-31 00:00:00 UTC | Moderna (MRNA) to Report Q2 Earnings: Will It Beat Estimates? | ACAD | https://www.nasdaq.com/articles/moderna-mrna-to-report-q2-earnings%3A-will-it-beat-estimates | nan | nan | We expect Moderna MRNA to beat expectations when it releases second-quarter 2023 results on Aug 3, before the opening bell. In the last reported quarter, the company reported an earnings surprise of 110.73%.
Factors to Note
During the second quarter, sales of COVID-19 vaccines are likely to have declined significantly due to lower demand. The Zacks Consensus Estimate and our model estimate for second-quarter product sales is pegged at $233 million and $246 million, respectively.
Due to the substantial fall in COVID-19 vaccine sales compared with previous quarters’ levels, we expect Moderna to post its first quarterly loss in over two years since the FDA’s first authorization to its COVID vaccine in December 2020.
Earlier this month, Moderna initiated regulatory submissions for its mRNA-based RSV vaccine, mRNA-1345, for use in older adults (aged 60 years and above) in several markets, including the United States, Europe and Australia. We expect mRNA-1345 to be the company’s next major commercial launch following its blockbuster COVID-19 vaccines. Investors could expect the company to discuss the commercial rollout plan for mRNA-1345 during the second-quarter earnings conference call.
Investors would also be inclined about Moderna’s progress with its pipeline. The company is developing more than 30 mRNA-based investigational candidates in different stages of clinical studies, targeting different indications, including cancer. Moderna is evaluating three candidates in late-stage studies — mRNA-1647 (cytomegalovirus (CMV) vaccine), mRNA-1010 (influenza vaccine) and mRNA-4157/V940 [personalized cancer vaccine (PCV)].
Last month, Moderna and Merck MRK reported new data from the phase IIb evaluating mRNA-4157, in melanoma indication. Data from the study showed that mRNA-4157 combined with Merck’s Keytruda reduced the risk of distant metastasis or death by 65% compared with participants who were treated with Merck's Keytruda alone. The study previously achieved its primary endpoint of recurrence-free survival. Moderna/Merck initiated the phase III study on mRNA-4157 in melanoma patients based on these positive results.
Moderna also records collaboration revenue from partners who use its mRNA technology to develop therapies targeting different indications. The Zacks Consensus Estimate and our model estimate for second-quarter collaboration revenues are pegged at $13.3 million and $10.0 million, respectively.
Investors would also like to seek updates from management on the company’s recently entered deal with the Chinese government to research, develop and manufacture mRNA medicines exclusively for sale in China. Multiple reports suggest that Moderna could invest up to a billion dollars in the deal.
Earnings Surprise History
The company’s surprise history has been mixed, with earnings beating estimates in two of the trailing four quarters while missing on the other two occasions. The average surprise is 21.97%.
Moderna, Inc. Price and EPS Surprise
Moderna, Inc. price-eps-surprise | Moderna, Inc. Quote
Moderna’s shares have declined 33.9% year to date compared with the industry’s fall of 11.2%.
Image Source: Zacks Investment Research
Earnings Whispers
Our proven model predicts an earnings beat for Moderna in the to-be-reported quarter. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is the case here, as elaborated below.
Earnings ESP: Moderna’s Earnings ESP is +5.90% as the Most Accurate Estimate of a loss of $3.61 is lower than the Zacks Consensus Estimate of a loss of $3.84. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Moderna has a Zacks Rank #3, currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these too have the right combination of elements to beat on earnings this reporting cycle.
ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2.
In the year so far, ACADIA Pharmaceuticals’ shares have risen 82.4%. ACADIA Pharmaceuticals beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. ACAD has delivered an earnings surprise of 2.75%, on average. ACADIA Pharmaceuticals is scheduled to release its second-quarter results on Aug 2.
Novo Nordisk NVO has an Earnings ESP of +4.63% and a Zacks Rank #3.
Novo Nordisk’s stock has risen 16.6% so far this year. NVO topped earnings estimates in two of the last four quarters and has a four-quarter earnings surprise of 0.35%, on average. Novo Nordisk is scheduled to release its second-quarter results on Aug 10.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
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Moderna, Inc. (MRNA) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. In the year so far, ACADIA Pharmaceuticals’ shares have risen 82.4%. ACADIA Pharmaceuticals beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. | Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report Moderna, Inc. (MRNA) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. In the year so far, ACADIA Pharmaceuticals’ shares have risen 82.4%. | Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report Moderna, Inc. (MRNA) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. In the year so far, ACADIA Pharmaceuticals’ shares have risen 82.4%. | ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. In the year so far, ACADIA Pharmaceuticals’ shares have risen 82.4%. ACADIA Pharmaceuticals beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. |
35579.0 | 2023-07-31 00:00:00 UTC | Viatris (VTRS) to Report Q2 Earnings: What's in the Offing? | ACAD | https://www.nasdaq.com/articles/viatris-vtrs-to-report-q2-earnings%3A-whats-in-the-offing | nan | nan | Viatris VTRS, a global healthcare company, is scheduled to report second-quarter results on Aug 7, 2023.
The company beat earnings estimates in three of the trailing four quarters and met in the remaining one, the average surprise being 6.64%. In the last reported quarter, the company beat estimates by 13.04%.
Viatris Inc. Price, Consensus and EPS Surprise
Viatris Inc. price-consensus-eps-surprise-chart | Viatris Inc. Quote
Factors to Consider
Viatris reports segment information based on markets and geography — Developed Markets, Emerging Markets, Japan, Australia and New Zealand (JANZ) and Greater China.
Unfavorable movements in foreign exchange rates are likely to have somewhat impacted results in the second quarter.
Branded business and new launches are most likely to have driven sales in Developed Markets. The Zacks Consensus Estimate for revenues from branded business is pinned at $2.3 billion. Loss of exclusivity for certain products and competitive headwinds for Wixela has likely impacted business in North America.
Sales from Emerging Markets are likely to have increased on the strength of branded businesses. The Zacks Consensus Estimate for revenues from emerging markets is pegged at $696 million.
Sales from JANZ are likely to have been boosted by the generics business, which has most likely offset the challenges faced by brands in these markets. The Zacks Consensus Estimate for revenues from JANZ markets is pinned at $369 million.
Sales from Greater China markets are also likely to have increased. The Zacks Consensus Estimate for revenues from this geography is pegged at $600 million.
Brands like Dymista, Celebrex, Norvasc and Creon have likely maintained momentum for the company in the second quarter.
In November 2022, Viatris closed its transaction with Biocon Biologics Limited. Viatris had earlier announced an agreement with Biocon Biologics Limited whereby Viatris would sell its biosimilars portfolio to the latter.
Hence, sales in the second quarter might have been impacted by this move.
Generics, which include diversified product forms such as extended-release oral solids, injectables, transdermals and topicals, performed ahead of management’s expectations in the previous quarter, benefiting from the launch of lenalidomide in the United States. A similar trend is likely to have prevailed in the to-be-reported quarter.
In January, Viatris completed the acquisitions of Oyster Point Pharma and Famy LifeSciences to establish a new division, Viatris Eye Care. Tyrvayas' launch continues to progress as planned by management in its first quarter. Incremental revenues from this division are likely to have boosted the top line in the second quarter.
Per management, the gross margin in the second quarter has likely been impacted due to portfolio and segment mix and expected higher costs because of inflation. SG&A and R&D expenses, too, are likely to have risen.
Share Price Performance
Viatris’ stock has lost 6.6% in the past year compared with the industry’s decline of 4.8%.
Image Source: Zacks Investment Research
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Viatris this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: Earnings ESP for Viatris is 0.00%, as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 71 cents. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are a few stocks you may want to consider, as our model shows that they have the right combination of elements to post an earnings beat this quarter.
Acadia Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
ACAD beat earnings estimates in two of the last four quarters and missed in the remaining two, the average negative surprise being 2.75%.
Dynavax DVAX has an Earnings ESP of +65.39% and a Zacks Rank #2. DVAX beat earnings estimates in two of the last four quarters and missed in the remaining two, the average negative surprise being 65.18%.
Alnylam Pharmaceuticals ALNY has an Earnings ESP of +0.45% and a Zacks Rank #2.
ALNY topped earnings estimates in two of the last four quarters and missed in the remaining two. It has a four-quarter earnings surprise of negative 17.45%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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Alnylam Pharmaceuticals, Inc. (ALNY) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. ACAD beat earnings estimates in two of the last four quarters and missed in the remaining two, the average negative surprise being 2.75%. Click to get this free report Alnylam Pharmaceuticals, Inc. (ALNY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Viatris Inc. (VTRS) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Alnylam Pharmaceuticals, Inc. (ALNY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Viatris Inc. (VTRS) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. ACAD beat earnings estimates in two of the last four quarters and missed in the remaining two, the average negative surprise being 2.75%. | Click to get this free report Alnylam Pharmaceuticals, Inc. (ALNY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Viatris Inc. (VTRS) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. ACAD beat earnings estimates in two of the last four quarters and missed in the remaining two, the average negative surprise being 2.75%. | Acadia Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. ACAD beat earnings estimates in two of the last four quarters and missed in the remaining two, the average negative surprise being 2.75%. Click to get this free report Alnylam Pharmaceuticals, Inc. (ALNY) : Free Stock Analysis Report Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Viatris Inc. (VTRS) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35580.0 | 2023-07-31 00:00:00 UTC | ANI Pharmaceuticals (ANIP) to Post Q2 Earnings: What's in Store? | ACAD | https://www.nasdaq.com/articles/ani-pharmaceuticals-anip-to-post-q2-earnings%3A-whats-in-store | nan | nan | ANI Pharmaceuticals ANIP is set to report second-quarter 2023 results on Aug 9 before market open, wherein investors are likely to focus on the sales performance of the company’s core business segments — rare disease and generic business.
Let's see how things might have shaped up in the soon-to-be-reported quarter.
Factors to Consider
ANIP gains revenues primarily from the sales of generic products, rare disease products and established brand pharmaceutical products, royalties, and other pharmaceutical services.
The company’s revenue growth in the second quarter is likely to have been driven by the rapid uptake of its rare disease business and generic business segments.
Higher revenues from the lead product in the rare disease business, Cortrophin Gel, are likely to have boosted the company’s top line in the second quarter. The drug displayed growth in the number of new unique prescribers and repeat prescribers in recent quarters. The positive trend is expected to have continued in the second quarter.
The company has increased its promotional endeavors to enhance awareness of Cortrophin Gel through peer-to-peer education initiatives, focusing on target indications, such as rheumatology, neurology and nephrology. Additionally, ANIP has successfully implemented its previously outlined strategy of a measured expansion of the sales force, which resulted in the full staffing and operational status of its pulmonology sales team.
The Zacks Consensus Estimate for ANI Pharmaceuticals’ revenues from rare disease business is pegged at $19.73 million.
In the generic and other segments, ANIP’s strong commitment to U.S.-based manufacturing and excellence in generic product selection led to almost 43% growth in sales in the first quarter. This momentum is likely to have continued in the to-be-reported quarter.
Newly approved generic products, Methsuximide capsules 300 mg and Alendronate sodium oral solution, are expected to give a boost to the generic segment in the second quarter.
The Zacks Consensus Estimate for revenues from generic business and established branded products is pegged at $56.76 million and $19.78 million, respectively.
Total costs and expenses increased year over year in the first quarter. This trend is expected to have continued in the second quarter owing to a rise in research and development expenses, and selling, general and administrative costs.
Investors can expect an update on ANIP's business development plans on mergers and acquisitions for future growth opportunities. The company plans to make some substantial investments and improvements in its rare disease platform this year.
Earnings Surprise History
The company’s earnings surprise history has been encouraging so far. Its bottom line surpassed estimates in all of the trailing four quarters, delivering an average surprise of 68.64%.
ANI Pharmaceuticals, Inc. Price and EPS Surprise
ANI Pharmaceuticals, Inc. price-eps-surprise | ANI Pharmaceuticals, Inc. Quote
Shares of the company have risen 30.1% in the year-to-date period against the industry's 11.2% decline.
Image Source: Zacks Investment Research
Earnings Whisper
Our proven model does not predict an earnings beat for ANIP this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below.
Earnings ESP: ANIP has an Earnings ESP of -12.50% as the Most Accurate Estimate of 56 cents per share is lower than the Zacks Consensus Estimate of 64 cents. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: ANIP currently carries a Zacks Rank #2.
Stocks to Consider
Here are a few stocks worth considering from the overall healthcare space as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ACAD’s shares have rallied 82.4% in the year-to-date period. Its earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%. The company will report second-quarter earnings on Aug 2, after market close.
Axsome Therapeutics AXSM has an Earnings ESP of +1.49% and a Zacks Rank #2 at present.
AXSM’s shares have gained 2% in the year-to-date period. Its earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 22.34%. The company will report second-quarter earnings on Aug 7, before market open.
Moderna MRNA has an Earnings ESP of +5.90% and a Zacks Rank #3 at present.
MRNA’s shares have lost 33.9% year to date. Its earnings beat estimates in two of the last four quarters and missed the mark in the other two, delivering an average surprise of 21.97%. The company is scheduled to release second-quarter results on Aug 3, before market open.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Moderna, Inc. (MRNA) : Free Stock Analysis Report
ANI Pharmaceuticals, Inc. (ANIP) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 82.4% in the year-to-date period. Click to get this free report Moderna, Inc. (MRNA) : Free Stock Analysis Report ANI Pharmaceuticals, Inc. (ANIP) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Moderna, Inc. (MRNA) : Free Stock Analysis Report ANI Pharmaceuticals, Inc. (ANIP) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 82.4% in the year-to-date period. | Click to get this free report Moderna, Inc. (MRNA) : Free Stock Analysis Report ANI Pharmaceuticals, Inc. (ANIP) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 82.4% in the year-to-date period. | Click to get this free report Moderna, Inc. (MRNA) : Free Stock Analysis Report ANI Pharmaceuticals, Inc. (ANIP) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 82.4% in the year-to-date period. |
35581.0 | 2023-07-31 00:00:00 UTC | First Week of March 2024 Options Trading For Acadia Pharmaceuticals (ACAD) | ACAD | https://www.nasdaq.com/articles/first-week-of-march-2024-options-trading-for-acadia-pharmaceuticals-acad | nan | nan | Investors in Acadia Pharmaceuticals Inc (Symbol: ACAD) saw new options become available this week, for the March 2024 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 228 days until expiration the newly available contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ACAD options chain for the new March 2024 contracts and identified one put and one call contract of particular interest.
The put contract at the $29.00 strike price has a current bid of $3.50. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $29.00, but will also collect the premium, putting the cost basis of the shares at $25.50 (before broker commissions). To an investor already interested in purchasing shares of ACAD, that could represent an attractive alternative to paying $29.18/share today.
Because the $29.00 strike represents an approximate 1% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 60%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 12.07% return on the cash commitment, or 19.32% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $29.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $30.00 strike price has a current bid of $3.70. If an investor was to purchase shares of ACAD stock at the current price level of $29.18/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $30.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 15.49% if the stock gets called away at the March 2024 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if ACAD shares really soar, which is why looking at the trailing twelve month trading history for Acadia Pharmaceuticals Inc, as well as studying the business fundamentals becomes important. Below is a chart showing ACAD's trailing twelve month trading history, with the $30.00 strike highlighted in red:
Considering the fact that the $30.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 41%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 12.68% boost of extra return to the investor, or 20.30% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 55%, while the implied volatility in the call contract example is 50%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 250 trading day closing values as well as today's price of $29.18) to be 48%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if ACAD shares really soar, which is why looking at the trailing twelve month trading history for Acadia Pharmaceuticals Inc, as well as studying the business fundamentals becomes important. Below is a chart showing ACAD's trailing twelve month trading history, with the $30.00 strike highlighted in red: Considering the fact that the $30.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Acadia Pharmaceuticals Inc (Symbol: ACAD) saw new options become available this week, for the March 2024 expiration. | Below is a chart showing ACAD's trailing twelve month trading history, with the $30.00 strike highlighted in red: Considering the fact that the $30.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Acadia Pharmaceuticals Inc (Symbol: ACAD) saw new options become available this week, for the March 2024 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ACAD options chain for the new March 2024 contracts and identified one put and one call contract of particular interest. | Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $29.00 strike is located relative to that history: Turning to the calls side of the option chain, the call contract at the $30.00 strike price has a current bid of $3.70. Below is a chart showing ACAD's trailing twelve month trading history, with the $30.00 strike highlighted in red: Considering the fact that the $30.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Acadia Pharmaceuticals Inc (Symbol: ACAD) saw new options become available this week, for the March 2024 expiration. | At Stock Options Channel, our YieldBoost formula has looked up and down the ACAD options chain for the new March 2024 contracts and identified one put and one call contract of particular interest. Below is a chart showing ACAD's trailing twelve month trading history, with the $30.00 strike highlighted in red: Considering the fact that the $30.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Acadia Pharmaceuticals Inc (Symbol: ACAD) saw new options become available this week, for the March 2024 expiration. |
35582.0 | 2023-07-29 00:00:00 UTC | Oppenheimer Maintains Acadia Pharmaceuticals (ACAD) Perform Recommendation | ACAD | https://www.nasdaq.com/articles/oppenheimer-maintains-acadia-pharmaceuticals-acad-perform-recommendation-0 | nan | nan | Fintel reports that on July 28, 2023, Oppenheimer maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Perform recommendation.
Analyst Price Forecast Suggests 12.99% Downside
As of July 6, 2023, the average one-year price target for Acadia Pharmaceuticals is 25.27. The forecasts range from a low of 12.12 to a high of $37.80. The average price target represents a decrease of 12.99% from its latest reported closing price of 29.04.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 14.76%. The projected annual non-GAAP EPS is -0.80.
For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 30 owner(s) or 6.33% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.20%, an increase of 4.10%. Total shares owned by institutions decreased in the last three months by 0.33% to 163,983K shares.
The put/call ratio of ACAD is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 41,938K shares representing 25.79% ownership of the company. In it's prior filing, the firm reported owning 41,923K shares, representing an increase of 0.04%. The firm increased its portfolio allocation in ACAD by 7.14% over the last quarter.
Rtw Investments holds 8,243K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 3,671K shares, representing an increase of 55.47%. The firm increased its portfolio allocation in ACAD by 170.78% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.68% ownership of the company. No change in the last quarter.
D. E. Shaw holds 4,901K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 4,219K shares, representing an increase of 13.90%. The firm increased its portfolio allocation in ACAD by 4.72% over the last quarter.
Price T Rowe Associates holds 4,551K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 4,279K shares, representing an increase of 5.97%. The firm increased its portfolio allocation in ACAD by 17.00% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
Additional reading:
Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first
Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP
PROCEEDS AGREEMENT
Acadia Pharmaceuticals Reports First Quarter 2023 Financial Results and Operating Overview - 1Q23 NUPLAZID® net sales of $118.5 million - Announced the U.S. FDA Approval of DAYBUE™ (trofinetide) for the Treatment of Rett Syndrome in Adult and Pediatr
Acadia Pharmaceuticals Reports Fourth Quarter and Full Year 2022 Financial Results and Operating Overview - Full year 2022 net sales of $517.2 million, an increase of 7% over 2021 - Prescription Drug User Fee Act (PDUFA) action date set for March 12,
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on July 28, 2023, Oppenheimer maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Perform recommendation. Additional reading: Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP Acadia Pharmaceuticals Reports First Quarter 2023 Financial Results and Operating Overview - 1Q23 NUPLAZID® net sales of $118.5 million - Announced the U.S. FDA Approval of DAYBUE™ (trofinetide) for the Treatment of Rett Syndrome in Adult and Pediatr Acadia Pharmaceuticals Reports Fourth Quarter and Full Year 2022 Financial Results and Operating Overview - Full year 2022 net sales of $517.2 million, an increase of 7% over 2021 - Prescription Drug User Fee Act (PDUFA) action date set for March 12, This story originally appeared on Fintel. | Acadia Pharmaceuticals Reports First Quarter 2023 Financial Results and Operating Overview - 1Q23 NUPLAZID® net sales of $118.5 million - Announced the U.S. FDA Approval of DAYBUE™ (trofinetide) for the Treatment of Rett Syndrome in Adult and Pediatr Acadia Pharmaceuticals Reports Fourth Quarter and Full Year 2022 Financial Results and Operating Overview - Full year 2022 net sales of $517.2 million, an increase of 7% over 2021 - Prescription Drug User Fee Act (PDUFA) action date set for March 12, This story originally appeared on Fintel. Fintel reports that on July 28, 2023, Oppenheimer maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Perform recommendation. Analyst Price Forecast Suggests 12.99% Downside As of July 6, 2023, the average one-year price target for Acadia Pharmaceuticals is 25.27. | Acadia Pharmaceuticals Reports First Quarter 2023 Financial Results and Operating Overview - 1Q23 NUPLAZID® net sales of $118.5 million - Announced the U.S. FDA Approval of DAYBUE™ (trofinetide) for the Treatment of Rett Syndrome in Adult and Pediatr Acadia Pharmaceuticals Reports Fourth Quarter and Full Year 2022 Financial Results and Operating Overview - Full year 2022 net sales of $517.2 million, an increase of 7% over 2021 - Prescription Drug User Fee Act (PDUFA) action date set for March 12, This story originally appeared on Fintel. Fintel reports that on July 28, 2023, Oppenheimer maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Perform recommendation. Analyst Price Forecast Suggests 12.99% Downside As of July 6, 2023, the average one-year price target for Acadia Pharmaceuticals is 25.27. | Analyst Price Forecast Suggests 12.99% Downside As of July 6, 2023, the average one-year price target for Acadia Pharmaceuticals is 25.27. For more in-depth coverage of Acadia Pharmaceuticals, view the free, crowd-sourced company research report on Finpedia. There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. |
35583.0 | 2023-07-28 00:00:00 UTC | Gilead (GILD) Gears Up to Report Q2 Earnings: What's in Store? | ACAD | https://www.nasdaq.com/articles/gilead-gild-gears-up-to-report-q2-earnings%3A-whats-in-store | nan | nan | Biotech major Gilead Sciences Inc. GILD is set to report second-quarter 2023 results on Aug 3, after market close.
The company has a decent track record, with earnings beating estimates in three of the last four quarters and missing in the remaining one, the average beat being 7.99%. In the last reported quarter, the company missed expectations by 15.95%.
Gilead Sciences, Inc. Price, Consensus and EPS Surprise
Gilead Sciences, Inc. price-consensus-eps-surprise-chart | Gilead Sciences, Inc. Quote
Factors to Note
Revenues in the second quarter have most likely been boosted by increased sales in oncology and HIV franchises, as in the first quarter. However, a decline in Veklury (remdesivir) sales is likely to have dented this growth slightly.
Sales in the HIV franchise are being driven by higher demand for the flagship HIV therapies Biktarvy and Descovy. Biktarvy’s sales increased 24% year over year in the previous quarter due to higher demand and the trend is likely to have continued in the to-be-reported quarter.
Descovy’s revenues are being boosted by higher demand and favorable pricing dynamics and the momentum is likely to have continued in the second quarter.
The Zacks Consensus Estimate for sales of Biktarvy and Descovy is pegged at $2.8 billion and $491 million, respectively. Our model estimates for the same are $2.7 billion and $497 million, respectively.
The Liver Disease portfolio sales, including chronic hepatitis C virus (“HCV”), chronic hepatitis B virus (“HBV”) and chronic hepatitis delta virus (“HDV”), increased in the previous quarter, driven by higher demand and timing of purchases in the United States. The trend has most likely continued in the second quarter.
Sales of Veklury are likely to have seen a decline.
Cell Therapy product sales are likely to have soared in the second quarter. Yescarta sales are primarily being driven by increased demand for relapsed or refractory (“R/R”) large B-cell lymphoma (“LBCL”) in the United States and Europe. Tecartus (brexucabtagene autoleucel) sales are being driven by increased demand in adult R/R B-cell precursor acute lymphoblastic leukemia (“ALL”) and mantle cell lymphoma (“MCL”) in the United States and Europe. Sales are likely to have experienced a sequential increase, driven by the label expansions of Yescarta and Tecartus.
The Zacks Consensus Estimate for Cell Therapy product sales is $476 million and our estimate for the same is $489.2 million.
Increased sales of Trodelvy, reflecting continued uptake in metastatic triple-negative breast cancer, have also likely boosted sales in the second quarter.
The Zacks Consensus Estimate for Trodelvy sales is $242 million and our estimate for the same is $235 million.
Operating expenses are also likely to have increased in the second quarter.
Pipeline & Regulatory Updates
Apart from the regular top- and bottom-line numbers, we expect investors to focus on key pipeline updates when the company reports.
The European Commission (EC) approved Trodelvy as a monotherapy for the treatment of adult patients with unresectable or metastatic hormone receptor (HR)-positive, HER2-negative breast cancer who have received endocrine-based therapy and at least two additional systemic therapies in the advanced setting. Approval in additional geographies will boost sales of the drug.
Share Price Performance
Gilead’s stock has lost 11% in the past year compared with the industry's decline of 12%.
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What Our Model Predicts
Our proven model does not conclusively predict an earnings beat for Gilead this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: Earnings ESP for GILD is -4.65% as the Zacks Consensus Estimate currently stands at $1.61 per share and the Most Accurate Estimate is currently pegged at $1.54 per share. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are some drug and biotech stocks you may want to consider, as our model shows that they have the right combination of elements to post an earnings beat this season.
ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two quarters, with a four-quarter earnings surprise of -2.75%, on average.
Sarepta Therapeutics SRPT has an Earnings ESP of +8.01% and a Zacks Rank #3.
Sarepta beat earnings estimates in two of the trailing four quarters and missed in the remaining two. It delivered a negative earnings surprise of 63.49%.
Novo Nordisk NVO has an Earnings ESP of +4.63% and a Zacks Rank #3.
NVO beat earnings estimates in all of the last four quarters, the average earnings surprise being 0.35%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two quarters, with a four-quarter earnings surprise of -2.75%, on average. Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two quarters, with a four-quarter earnings surprise of -2.75%, on average. | Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two quarters, with a four-quarter earnings surprise of -2.75%, on average. | ACADIA Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. ACAD topped earnings estimates in two of the last four quarters and missed in the remaining two quarters, with a four-quarter earnings surprise of -2.75%, on average. Click to get this free report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35584.0 | 2023-07-28 00:00:00 UTC | ADMA Biologics (ADMA) to Report Q2 Earnings: What's in Store? | ACAD | https://www.nasdaq.com/articles/adma-biologics-adma-to-report-q2-earnings%3A-whats-in-store | nan | nan | ADMA Biologics ADMA is expected to report second-quarter 2023 results next month, wherein investors are likely to focus on the sales performance of the company’s immune deficiency disorder drugs.
Let's see how things might have shaped up in the soon-to-be-reported quarter.
Factors to Consider
ADMA derives revenues on net sales of its immunoglobulin products — Bivigam (to treat primary immunodeficiency disease), Asceniv (to treat primary humoral immunodeficiency) and Nabi-HB (to treat acute exposure to blood containing HBsAg and Hepatitis B) — and license revenues.
The company’s revenue growth in the second quarter is likely to have been driven by the rapid uptake of its therapies targeting immune deficiency.
Higher revenues from immunoglobulin products like Bivigam and Asceniv are expected to have boosted second-quarter revenues. The Zacks Consensus Estimate for ADMA’s revenues from net product sales is pegged at $57.35 million.
In the first quarter of 2023, ADMA achieved a milestone by generating a first-time adjusted EBITDA profit, driven by strong revenue growth. The positive trend in profits is expected to have continued in the second quarter.
The company has successfully started manufacturing Asceniv at a higher scale in the last quarter to expand the drug’s production scale. This expansion will help improve the product's margin profile and increase production capacity. On theearnings call the company is expected to provide an update on the realized benefit for the same.
Also, it is expected to shed light on its business development plans and efforts to diversify its pipeline. ADMA is planning to expand the label for Bivigam and Asceniv to include pediatric-aged primary humoral immunodeficiency patients.
Earnings Surprise History
The company’s earnings surprise history has been decent so far. Its bottom line surpassed estimates in three of the trailing four quarters and met the mark in one, delivering an average surprise of 19.13%.
ADMA Biologics Inc Price and EPS Surprise
ADMA Biologics Inc price-eps-surprise | ADMA Biologics Inc Quote
Shares of the company have risen 0.5% in the year-to-date period against the industry's 11.1% decline.
Image Source: Zacks Investment Research
Earnings Whisper
Our proven model does not predict an earnings beat for ADMA this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below.
Earnings ESP: ADMA has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at a loss of 2 cents per share. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: ADMA currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few stocks worth considering from the overall healthcare space as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present.
ACAD’s shares have rallied 82.3% in the year-to-date period. Its earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%. The company will report second-quarter earnings on Aug 2, after market close.
Axsome Therapeutics AXSM has an Earnings ESP of +5.36% and a Zacks Rank #2 at present.
AXSM’s shares have rallied 0.3% in the year-to-date period. Its earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 22.34%. The company will report second-quarter earnings on Aug 7, before market open.
Moderna MRNA has an Earnings ESP of +5.90% and a Zacks Rank #3 at present.
MRNA’s shares have lost 34% year to date. Its earnings beat estimates in two of the last four quarters and missed the mark in the other two, delivering an average surprise of 21.97%. The company is scheduled to release second-quarter results on Aug 3, before market open.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 82.3% in the year-to-date period. Click to get this free report Moderna, Inc. (MRNA) : Free Stock Analysis Report ADMA Biologics Inc (ADMA) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Moderna, Inc. (MRNA) : Free Stock Analysis Report ADMA Biologics Inc (ADMA) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 82.3% in the year-to-date period. | Click to get this free report Moderna, Inc. (MRNA) : Free Stock Analysis Report ADMA Biologics Inc (ADMA) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 82.3% in the year-to-date period. | ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 82.3% in the year-to-date period. Click to get this free report Moderna, Inc. (MRNA) : Free Stock Analysis Report ADMA Biologics Inc (ADMA) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35585.0 | 2023-07-27 00:00:00 UTC | Alkermes (ALKS) Q2 Earnings & Revenues Beat Estimates | ACAD | https://www.nasdaq.com/articles/alkermes-alks-q2-earnings-revenues-beat-estimates | nan | nan | Alkermes plc ALKS reported second-quarter 2023 adjusted earnings of 55 cent per share, which beat the Zacks Consensus Estimate of 48 cents. The company reported adjusted earnings of 6 cents per share in the year-ago quarter.
ALKS’ revenues of $617.4 million rose 123.5% from the year-ago quarter’s level. The substantial increase in revenues can be attributed to the back royalties and associated interests earned from the arbitration with Janssen Pharmaceuticals, a subsidiary of J&J JNJ.
The top line beat the Zacks Consensus Estimate of $479 million.
The company’s shares have risen 15% year to date against the industry’s 11.3% decline.
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Quarter in Detail
ALKS derives revenues on net sales of its proprietary products — Vivitrol (alcohol and opioid dependence), Aristada (schizophrenia) and Lybalvi (schizophrenia and bipolar I disorder) — and manufacturing and/or royalty revenues on net sales of products commercialized by its partners.
Total manufacturing and royalty revenues increased 352% year over year to $385.9 million. In July, Alkermes received a final award in its arbitration proceedings with Janssen. Alkermes earned back royalties and interest of around $195.4 million for 2022 net U.S. sales and $50.2 million for first-quarter 2023 sales.
The final award confirms previous findings by the tribunal that Janssen can terminate license agreements but must pay royalties to Alkermes for products developed during the agreements.
Manufacturing and royalty revenues from Vumerity were up almost 23% year over year to $32.3 million. Royalty revenues for the same missed the Zacks Consensus Estimate and our model estimate of $34.47 and $34.5 million, respectively.
Sales of the proprietary drug, Vivitrol, increased around 6% year over year to $102.1 million, driven primarily by growth in the alcohol dependence indication. The figure marginally beat the Zacks Consensus Estimate of $102 million and our model estimate of $101 million.
Sales for Aristada increased almost 10% year over year to $82.4 million, driven primarily by higher underlying demand. The figure slightly missed the Zacks Consensus Estimate and our model estimate of $84 million and $83.7 million, respectively.
Lybalvi generated sales of $47 million. Sales of the drug increased 134% year over year, primarily driven by growth in demand. The Lybalvi sales figure beat both the Zacks Consensus Estimate and our model estimates of $46.14 million and $46 million, respectively.
Research and development expenses totaled $100.8 million, up 8.5% year over year. The surge was primarily due to the increased expenses in advancement of clinical studies for nemvaleukin alfa and ALKS 2680.
Selling, general and administrative expenses totaled $205.3 million, up 36.5% year over year. This was due to increased investment to support the launch of Lybalvi and certain expenses related to the planned separation of the oncology business.
As of Jun 30, 2023, Alkermes had cash and cash equivalents of $907.2 million compared with $692.5 million as of Mar 31, 2023. Total outstanding debt was $292 million as of Jun 30, 2023.
2023 Guidance
The company reiterated its guidance for 2023, issued on Jun 6, 2023.
It expects total revenues in the band of $1,550-$1,680 million compared with the previous guided range of $1,130-$1,250 million.
Net sales for Vivitrol are expected in the range of $380-$410 million. The same for Aristada are anticipated in the band of $315–$345 million. Lybalvi’s net sales are expected between $180 million and $205 million.
INVEGA royalties are expected in the band of $265-$280 million compared with the previous projection of $40-$45 million. Royalties and interests are expected to be around $195 million.
Research and Development expenses are anticipated in the range of $370-$400 million. Selling, general and administrative expenses are expected in the band of $695-$725 million.
The guidance includes Alkermes' combined neuroscience and oncology business for the entire year.
Recent Updates
Alkermes is making progress in separating its oncology business into a new, publicly-traded company called Mural Oncology plc. The separation will allow the company to focus on developing therapies for neurological conditions and improving profitability.
ALKS expects to complete the separation in the second half of 2023, subject to various customary conditions.
Per the company, the separation of the oncology business will allow it to have individual management team for each business. This will also help simplify capital allocation and ensure a long-term shareholder base.
Alkermes plc Price and Consensus
Alkermes plc price-consensus-chart | Alkermes plc Quote
Zacks Rank & Other Stocks to Consider
Currently, Alkermes sports a Zacks Rank #1 (Strong Buy).
A couple of other top-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 90 days, the Zacks Consensus Estimate for ADC Therapeutics has widened from a loss of $2.60 per share to a loss of $2.61 for 2023. The consensus estimate has narrowed from a loss of $2.75 per share to a loss of $2.45 for 2024 during the same time frame. Shares of the company have lost 67.2% year to date.
ADCT’s earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 10.70%.
In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. Shares of the company have rallied 83.2% year to date.
ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A couple of other top-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, both carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%. | Click to get this free report Johnson & Johnson (JNJ) : Free Stock Analysis Report Alkermes plc (ALKS) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of other top-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, both carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. | Click to get this free report Johnson & Johnson (JNJ) : Free Stock Analysis Report Alkermes plc (ALKS) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of other top-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, both carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. | A couple of other top-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, both carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%. |
35586.0 | 2023-07-27 00:00:00 UTC | Incyte (INCY) to Report Q2 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/incyte-incy-to-report-q2-earnings%3A-whats-in-the-cards-0 | nan | nan | Incyte Corporation INCY is scheduled to release second-quarter 2023 results on Aug 1, before market open.
The company's earnings beat estimates in two of the trailing four quarters and missed the same in the other two, delivering an average negative surprise of 10.05%. In the last reported quarter, Incyte’s earnings missed estimates by 56.47%.
Shares of the company have lost 21.8% in the year-to-date period compared with the industry's 11.3% decline.
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Let's see how things might have shaped up for the quarter to be reported.
Factors to Consider
Incyte primarily derives product revenues from sales of its lead drug, Jakafi (ruxolitinib), in the United States, and its other marketed drugs.
Increase in sales of Jakafi, a first-in-class JAK1/JAK2 inhibitor in all approved indications (polycythemia vera, myelofibrosis and refractory acute graft-versus-host disease [GvHD]), is likely to have boosted revenues in the second quarter. Sales increased 7% year over year in the first quarter. This trend might have continued in the to-be-reported quarter. The Zacks Consensus Estimate for Jakafi's sales is pinned at $648.44 million.
The company also earns product royalty revenues from Novartis AG NVS for the commercialization of Jakafi in non-U.S. markets. Novartis licensed ruxolitinib for its development and commercialization outside the United States.
While Incyte markets Jakafi in the United States, Novartis promotes the same drug as Jakavi outside the country. INCY is expected to have received higher royalties from NVS in the second quarter on higher Jakavi sales. For the second quarter, Novartis reported a strong performance by Jakavi. The drug generated sales of $435 million on constant currency basis.
Incyte also receives royalties from the sales of Tabrecta (capmatinib), which is approved for the treatment of adult patients with metastatic non-small cell lung cancer. Novartis has exclusive worldwide development and commercialization rights to Tabrecta.
While Jakafi’s sales and royalties are the key catalysts for INCY’s revenue growth, Iclusig’s sales and Olumiant’s royalties from Eli Lilly are likely to have contributed to the company’s top line in the to-be-reported quarter. The Zacks Consensus Estimate for Iclusig’s product revenues and Olumiant’s royalties is pegged at $26.53 million and $36.83 million, respectively.
Incremental sales from newly approved drugs like Opzelura and Zynyz are expected to have boosted sales. The adoption of other newly approved drugs like Monjuvi and Pemazyre is also likely to have bolstered the company’s top-line performance.
Total costs and expenses increased year over year in the first quarter. This trend is expected to have continued in the second quarter owing to a rise in research and development expenses, selling, and general and administrative costs.
Recent Key Developments
In July, the company announced positive top-line results from the late-stage TRuE-AD3 study on Opzelura (ruxolitinib cream).The study successfully met its primary endpoint, demonstrating that a significantly higher number of patients treated with ruxolitinib cream achieved Investigator's Global Assessment Treatment Success compared to those treated with a non-medicated cream.
The positive results from the TRuE-AD3 study highlight the potential of ruxolitinib cream in providing an effective non-steroidal topical therapy for children suffering from atopic dermatitis.
Earnings Whisper
Our proven model does not predict an earnings beat for Incyte this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below.
Earnings ESP: Incyte has an Earnings ESP of -6.51% as the Most Accurate Estimate of 82 cents per share is lower than the Zacks Consensus Estimate of 88 cents. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: Incyte currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Incyte Corporation Price and EPS Surprise
Incyte Corporation price-eps-surprise | Incyte Corporation Quote
Stocks to Consider
Here are a couple of stocks worth considering from the overall healthcare space as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present.
ACAD’s shares have rallied 83.2% in the year-to-date period. Its earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%. The company will report second-quarter earnings on Aug 2, after market close.
AstraZeneca AZN has an Earnings ESP of +1.88% and a Zacks Rank #3 at present.
AZN’s shares have rallied 2.3% year to date. Its earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.11%. The company will report second-quarter earnings on Jul 28, before market open.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 83.2% in the year-to-date period. Click to get this free report AstraZeneca PLC (AZN) : Free Stock Analysis Report Novartis AG (NVS) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report AstraZeneca PLC (AZN) : Free Stock Analysis Report Novartis AG (NVS) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 83.2% in the year-to-date period. | Click to get this free report AstraZeneca PLC (AZN) : Free Stock Analysis Report Novartis AG (NVS) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 83.2% in the year-to-date period. | ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 83.2% in the year-to-date period. Click to get this free report AstraZeneca PLC (AZN) : Free Stock Analysis Report Novartis AG (NVS) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. |
35587.0 | 2023-07-26 00:00:00 UTC | SPDR S&P Biotech ETF Experiences Big Inflow | ACAD | https://www.nasdaq.com/articles/spdr-sp-biotech-etf-experiences-big-inflow-6 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P Biotech ETF (Symbol: XBI) where we have detected an approximate $202.1 million dollar inflow -- that's a 3.2% increase week over week in outstanding units (from 75,750,000 to 78,180,000). Among the largest underlying components of XBI, in trading today BridgeBio Pharma Inc (Symbol: BBIO) is up about 2.1%, Acadia Pharmaceuticals Inc (Symbol: ACAD) is down about 1.5%, and Twist Bioscience Corp (Symbol: TWST) is relatively unchanged. For a complete list of holdings, visit the XBI Holdings page » The chart below shows the one year price performance of XBI, versus its 200 day moving average:
Looking at the chart above, XBI's low point in its 52 week range is $72.44 per share, with $95.18 as the 52 week high point — that compares with a last trade of $83.12. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
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Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of XBI, in trading today BridgeBio Pharma Inc (Symbol: BBIO) is up about 2.1%, Acadia Pharmaceuticals Inc (Symbol: ACAD) is down about 1.5%, and Twist Bioscience Corp (Symbol: TWST) is relatively unchanged. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Among the largest underlying components of XBI, in trading today BridgeBio Pharma Inc (Symbol: BBIO) is up about 2.1%, Acadia Pharmaceuticals Inc (Symbol: ACAD) is down about 1.5%, and Twist Bioscience Corp (Symbol: TWST) is relatively unchanged. For a complete list of holdings, visit the XBI Holdings page » The chart below shows the one year price performance of XBI, versus its 200 day moving average: Looking at the chart above, XBI's low point in its 52 week range is $72.44 per share, with $95.18 as the 52 week high point — that compares with a last trade of $83.12. Free Report: Top 8%+ Dividends (paid monthly) Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. | Among the largest underlying components of XBI, in trading today BridgeBio Pharma Inc (Symbol: BBIO) is up about 2.1%, Acadia Pharmaceuticals Inc (Symbol: ACAD) is down about 1.5%, and Twist Bioscience Corp (Symbol: TWST) is relatively unchanged. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P Biotech ETF (Symbol: XBI) where we have detected an approximate $202.1 million dollar inflow -- that's a 3.2% increase week over week in outstanding units (from 75,750,000 to 78,180,000). For a complete list of holdings, visit the XBI Holdings page » The chart below shows the one year price performance of XBI, versus its 200 day moving average: Looking at the chart above, XBI's low point in its 52 week range is $72.44 per share, with $95.18 as the 52 week high point — that compares with a last trade of $83.12. | Among the largest underlying components of XBI, in trading today BridgeBio Pharma Inc (Symbol: BBIO) is up about 2.1%, Acadia Pharmaceuticals Inc (Symbol: ACAD) is down about 1.5%, and Twist Bioscience Corp (Symbol: TWST) is relatively unchanged. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P Biotech ETF (Symbol: XBI) where we have detected an approximate $202.1 million dollar inflow -- that's a 3.2% increase week over week in outstanding units (from 75,750,000 to 78,180,000). For a complete list of holdings, visit the XBI Holdings page » The chart below shows the one year price performance of XBI, versus its 200 day moving average: Looking at the chart above, XBI's low point in its 52 week range is $72.44 per share, with $95.18 as the 52 week high point — that compares with a last trade of $83.12. |
35588.0 | 2023-07-26 00:00:00 UTC | Acadia Pharmaceuticals (ACAD) Expected to Beat Earnings Estimates: Can the Stock Move Higher? | ACAD | https://www.nasdaq.com/articles/acadia-pharmaceuticals-acad-expected-to-beat-earnings-estimates%3A-can-the-stock-move-1 | nan | nan | The market expects Acadia Pharmaceuticals (ACAD) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 2. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on theearnings call it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus Estimate
This drugmaker is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of +42.9%.
Revenues are expected to be $154.39 million, up 14.7% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 36.84% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Acadia?
For Acadia, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +38.26%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination indicates that Acadia will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Acadia would post a loss of $0.21 per share when it actually produced a loss of $0.27, delivering a surprise of -28.57%.
Over the last four quarters, the company has beaten consensus EPS estimates two times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Acadia appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry Player
Another stock from the Zacks Medical - Biomedical and Genetics industry, Exact Sciences (EXAS), is soon expected to post loss of $0.49 per share for the quarter ended June 2023. This estimate indicates a year-over-year change of +47.9%. Revenues for the quarter are expected to be $599.03 million, up 14.8% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for Exact Sciences has been revised 4% up to the current level. Nevertheless, the company now has an Earnings ESP of -8.72%, reflecting a lower Most Accurate Estimate.
When combined with a Zacks Rank of #2 (Buy), this Earnings ESP makes it difficult to conclusively predict that Exact Sciences will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The market expects Acadia Pharmaceuticals (ACAD) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2023. How Have the Numbers Shaped Up for Acadia? For Acadia, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. | The market expects Acadia Pharmaceuticals (ACAD) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2023. Click to get this free report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Exact Sciences Corporation (EXAS) : Free Stock Analysis Report To read this article on Zacks.com click here. How Have the Numbers Shaped Up for Acadia? | For Acadia, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. The market expects Acadia Pharmaceuticals (ACAD) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2023. How Have the Numbers Shaped Up for Acadia? | The market expects Acadia Pharmaceuticals (ACAD) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2023. How Have the Numbers Shaped Up for Acadia? For Acadia, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. |
35589.0 | 2023-07-26 00:00:00 UTC | Bayer (BAYRY) Cuts 2023 Outlook, Reports Preliminary Q2 Results | ACAD | https://www.nasdaq.com/articles/bayer-bayry-cuts-2023-outlook-reports-preliminary-q2-results | nan | nan | Bayer Aktiengesellschaft BAYRY reported its adjusted full-year outlook for 2023, earlier this week. The company lowered its 2023 guidance due to a significant decline in sales of glyphosate-based products.
BAYRY now expects sales for the full-year 2023 in the range of €48.5-49.5 billion (previously €51 billion to €52 billion) based on the average monthly exchange rates in 2022, which is also known as currency-adjusted basis.
EBITDA in 2023, excluding special items, is now anticipated in the range of €11.3-11.8 billion (previously €12.5-13.0 billion) on a currency-adjusted basis. Additionally, Bayer expects its core earnings per share between €6.20 and €6.40 (previously €7.20-7.40), on a currency-adjusted basis.
The company has also downgraded its free cash flow estimation to approximately €0, which was previously pegged at approximately €3 billion.
Year to date, shares of Bayer have gained 10.4% compared with the industry’s 2.5% growth.
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In the same press release, BAYRY reported its preliminary and unaudited financial performance in the second quarter of 2023. Total sales are expected to be approximately €11.0 billion in the to-be-reported quarter. EBITDA, excluding special items, is expected to be approximately €2.5 billion.
Bayer expects its core earnings per share to be approximately €1.20, along with a negative free cash flow of approximately €0.5 billion.
BAYRY’s preliminary earnings figures for second-quarter 2023 are based on exchange rates as of Jun 30, 2023.
The company further reiterated that the guidance toward the lower end of its Group sales and earnings forecast for 2023 was already communicated during the first-quarter earnings release. Since first-quarter earnings release, further price declines along with lower volumes due to channel de-stocking, especially for glyphosate-based products, have negatively impacted Bayer’s financial performance. Adverse weather conditions have also contributed to the cause, per the company.
Additionally, BAYRY also expects to record a goodwill impairment of approximately €2.5 billion, based on anticipated developments in the market, especially for glyphosate-based products. The company reports this as the cause for a negative Group net income of approximately €2 billion for the second quarter of 2023.
Bayer is scheduled to release its second-quarter financial results on Aug 8, 2023.
Bayer Aktiengesellschaft Price and Consensus
Bayer Aktiengesellschaft price-consensus-chart | Bayer Aktiengesellschaft Quote
Zacks Rank and Stocks to Consider
Bayer currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall medical sector are J&J JNJ, ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate for J&J’s earnings per share has increased from $10.65 to $10.73. During the same period, the estimate for JNJ’s earnings per share has increased from $11.01 to $11.28. Year to date, shares of JNJ have lost 2.6%.
JNJ beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 5.58%.
In the past 90 days, the Zacks Consensus Estimate for ADC Therapeutics’ 2023 loss per share has widened from $2.60 to $2.61. During the same period, the estimate for ADC Therapeutics’ 2024 loss per share narrowed from $2.75 to $2.45. Year to date, shares of ADCT have lost 66.4%.
ADCT beat estimates in three of the trailing four quarters, missing the mark on one occasion, delivering an average earnings surprise of 10.70%.
In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. The estimate for Acadia Pharmaceuticals’ 2024 earnings per share is pegged at 47 cents. Year to date, shares of ACAD have rallied 85.9%.
ACAD beat estimates in two of the trailing four quarters, missing the mark on other two occasions, delivering an average negative earnings surprise of 2.75%.
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Johnson & Johnson (JNJ) : Free Stock Analysis Report
Bayer Aktiengesellschaft (BAYRY) : Free Stock Analysis Report
ADC Therapeutics SA (ADCT) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the overall medical sector are J&J JNJ, ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. The estimate for Acadia Pharmaceuticals’ 2024 earnings per share is pegged at 47 cents. | In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. Click to get this free report Johnson & Johnson (JNJ) : Free Stock Analysis Report Bayer Aktiengesellschaft (BAYRY) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the overall medical sector are J&J JNJ, ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. | Click to get this free report Johnson & Johnson (JNJ) : Free Stock Analysis Report Bayer Aktiengesellschaft (BAYRY) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the overall medical sector are J&J JNJ, ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. | Some better-ranked stocks in the overall medical sector are J&J JNJ, ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. The estimate for Acadia Pharmaceuticals’ 2024 earnings per share is pegged at 47 cents. |
35590.0 | 2023-07-25 00:00:00 UTC | Biogen (BIIB) Beats on Q2 Earnings & Sales, Announces Job Cuts | ACAD | https://www.nasdaq.com/articles/biogen-biib-beats-on-q2-earnings-sales-announces-job-cuts | nan | nan | Biogen BIIB reported second-quarter 2023 adjusted earnings per share (EPS) of $4.02, beating the Zacks Consensus Estimate of $3.77. Earnings declined 23% year over year due to lower revenues. On a constant currency basis, earnings were flat.
Sales came in at $2.46 billion, down 5% on a reported basis (down 3% on a constant-currency basis) from the year-ago quarter, hurt by lower sales of multiple sclerosis (MS) drugs like Tecfidera and Tysabri. Sales beat the Zacks Consensus Estimate of $2.38 billion.
Product sales in the quarter were $1.85 billion, down 10.2% year over year. Revenues from anti-CD20 therapeutic programs declined 1% to $433.4 million. The revenues include royalties on sales of Roche’s RHHBY Ocrevus and Biogen’s share of Roche’s drugs, Rituxan and Gazyva. Contract manufacturing and royalty revenues rose 102% in the quarter to $197.5 million.
Multiple Sclerosis Revenues
Biogen’s MS revenues were $1.21 billion in the reporter quarter, down 15% on a reported basis and 14% on a constant currency basis year over year.
Tecfidera sales declined 36% to $254.2 million as multiple generic versions of the drug have been launched in the United States and new generic launches are ongoing in several EU countries. Tecfidera sales were better than our model estimate of $234.9 million but missed the Zacks Consensus Estimate of $271 million.
Vumerity recorded $146.2 million in sales, up 6.9%. Vumerity sales beat the Zacks Consensus Estimate of $141 million.
Tysabri sales declined 6.4% year over year to $483.1 million, which missed the Zacks Consensus Estimate as well as our estimate of $487 million. Tysabri sales are being hurt by pricing pressure and competition.
Combined interferon revenues (Avonex and Plegridy) in the quarter were $302.4 million, down 13.6%, hurt by a continued shift from the injectable platform to oral or high-efficacy therapies.
Other Products
Sales of Spinraza rose 1% on a reported basis and 5% on a constant currency basis to $437 million. Spinraza sales were slightly better than the Zacks Consensus Estimate of $434 million but missed our model estimate of $445.6 million.
In the quarter, biosimilars revenues were flat year over year at $195 million. However, on a constant currency basis, biosimilar revenues rose 4%. While pricing pressure is hurting sales of anti-TNF biosimilar products in Europe, the launch of Byooviz (referencing Lucentis) must have benefited sales.
Biogen recorded a loss of $20 million of Alzheimer’s disease revenues, which included product revenues from Alzheimer’s drug Aduhelm and its portion of profit share from the Leqembi collaboration with Eisai.
The FDA granted traditional approval to Leqembi, an anti-amyloid beta protofibril antibody drug, for the treatment of Alzheimer’s disease, in early July. It was a huge milestone for the companies as Leqembi is the first Alzheimer’s drug to get traditional approval from the FDA. The FDA had granted accelerated approval to Leqembi in January. However, the drug was not expected to contribute much to revenues until the Centers for Medicare & Medicaid Services (CMS) granted reimbursement for it under Medicare plans. Once Leqembi received traditional approval, the CMS also announced broader Medicare coverage for the same. A broad range of patients can get access to Leqembi following CMS’ decision.
Research and development expenses were $584.0 million, up 11% year over year. Adjusted selling, general and administrative expenses declined 4% year over year to $548.0 million driven by the company’s cost-saving initiatives.
2023 Guidance Maintained
The company maintained its previously issued earnings and sales guidance for 2023.
Total revenues are expected to decline at a mid-single-digit percentage in 2023 from the 2022 level.
Adjusted earnings are expected in the range of $15.00 to $16.00 per share.
Our Take
Biogen’s second-quarter results were better than expected as it beat estimates on both counts. It also maintained its previously issued financial outlook for 2023. As Biogen’s focus shifts to the new Alzheimer’s drug Leqembi, it announced a new restructuring program, which is expected to result in a headcount reduction of approximately 1,000 employees. The program is expected to generate approximately $1 billion in gross cost savings. Out of these savings, around $300 million are expected to be re-invested in new products and R&D activities, which should further save costs of $700 million by 2025.
In response, Biogen’s shares were up around 1.1% in pre-market trading.
Biogen’s stock failed to deliver any returns year to date while the industry declined 10%.
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While most of Biogen’s key drugs are facing declining sales due to intense competitive pressure, Biogen’s potential new products such as Leqembi for Alzheimer’s disease (already launched) and Qalsody (tofersen – approved in April) for amyotrophic lateral sclerosis and zuranolone for depression could help revive growth. A new drug application seeking approval of zuranolone for major depressive disorder and postpartum depression is under priority review in the United States, with a decision expected on Aug 5, 2023.
Zacks Rank & Stocks to Consider
Biogen currently has a Zacks Rank #3 (Hold).
Biogen Inc. Price and Consensus
Biogen Inc. price-consensus-chart | Biogen Inc. Quote
Some better-ranked biotech companies are Alkermes ALKS and ACADIA Pharmaceuticals ACAD. While Alkermes has a Zacks Rank #1 (Strong Buy), ACADIA Pharmaceuticals has a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Alkermes’ 2023 earnings per share have risen from 43 cents to $1.27. During the same period, earnings per share estimates for 2024 have risen from $1.78 to $2.08. Year to date, shares of Alkermes have risen 21.7%.
Earnings of Alkermes beat estimates in three of the last four quarters, witnessing an earnings surprise of 90.83%, on average. In the last reported quarter, Alkermes’ earnings beat estimates by 133.33%.
In the past 60 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 56 cents to 31 cents while that for 2024 has improved from a loss of 7 cents to earnings of 47 cents. In the year so far, shares of ACADIA Pharmaceuticals have risen 88.6%.
Earnings of ACADIA Pharmaceuticals beat estimates in two of the last four quarters and missed the mark on two occasions. On average, the company witnessed a negative earnings surprise of 2.75% over the trailing four quarters.
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Biogen Inc. (BIIB) : Free Stock Analysis Report
Roche Holding AG (RHHBY) : Free Stock Analysis Report
Alkermes plc (ALKS) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Biogen Inc. Price and Consensus Biogen Inc. price-consensus-chart | Biogen Inc. Quote Some better-ranked biotech companies are Alkermes ALKS and ACADIA Pharmaceuticals ACAD. While Alkermes has a Zacks Rank #1 (Strong Buy), ACADIA Pharmaceuticals has a Zacks Rank of 2 (Buy). In the past 60 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 56 cents to 31 cents while that for 2024 has improved from a loss of 7 cents to earnings of 47 cents. | Click to get this free report Biogen Inc. (BIIB) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Alkermes plc (ALKS) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Biogen Inc. Price and Consensus Biogen Inc. price-consensus-chart | Biogen Inc. Quote Some better-ranked biotech companies are Alkermes ALKS and ACADIA Pharmaceuticals ACAD. While Alkermes has a Zacks Rank #1 (Strong Buy), ACADIA Pharmaceuticals has a Zacks Rank of 2 (Buy). | Click to get this free report Biogen Inc. (BIIB) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report Alkermes plc (ALKS) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Biogen Inc. Price and Consensus Biogen Inc. price-consensus-chart | Biogen Inc. Quote Some better-ranked biotech companies are Alkermes ALKS and ACADIA Pharmaceuticals ACAD. While Alkermes has a Zacks Rank #1 (Strong Buy), ACADIA Pharmaceuticals has a Zacks Rank of 2 (Buy). | Biogen Inc. Price and Consensus Biogen Inc. price-consensus-chart | Biogen Inc. Quote Some better-ranked biotech companies are Alkermes ALKS and ACADIA Pharmaceuticals ACAD. While Alkermes has a Zacks Rank #1 (Strong Buy), ACADIA Pharmaceuticals has a Zacks Rank of 2 (Buy). In the past 60 days, estimates for ACADIA Pharmaceuticals’ 2023 loss per share have narrowed from 56 cents to 31 cents while that for 2024 has improved from a loss of 7 cents to earnings of 47 cents. |
35591.0 | 2023-07-25 00:00:00 UTC | Kodiak (KOD) Down as Late-Stage DME Studies Fail | ACAD | https://www.nasdaq.com/articles/kodiak-kod-down-as-late-stage-dme-studies-fail | nan | nan | Kodiak Sciences’ KOD shares were down almost 45.9% on Jul 24, as it failed to meet the primary endpoint in two late-stage studies evaluating tarcocimab for patients with diabetic macular edema (DME). The results from these studies led Kodiak to discontinue any further development of tarcocimab.
The developmental candidate, tarcocimab is a novel antibody biopolymer conjugate being developed for treating various eye diseases. It is being developed in multiple late-stage studies, namely GLEAM, GLIMMER, GLOW, DAYLIGHT and BEACON.
The GLEAM and GLIMMER phase III studies evaluated tarcocimab for six-month durability in patients with DME. The study aimed to evaluate the durability, efficacy and safety of tarcocimab compared with Eylea (aflibercept) in improving visual clarity.
Although the data showed that many patients on tarcocimab achieved longer treatment intervals, the studies could not meet the primary efficacy endpoints of showing non-inferior visual acuity gains for tarcocimab dosed every 8-24 weeks after three monthly loading doses compared with aflibercept given every eight weeks after five monthly loading doses.
Additionally, an unexpected increase in cataracts was observed over time in the tarcocimab arms of both studies.
However, the phase III DAYLIGHT study, evaluating tarcocimab in patients with wet age-related macular degeneration (AMD), met its primary endpoint of non-inferior visual acuity gains. It was a randomized, double-masked, active comparator-controlled study that compared the efficacy and safety of a high-intensity dosing regimen of tarcocimab tedromer with aflibercept.
The data showed that tarcocimab was well tolerated in wet AMD patients and a low rate of intraocular inflammation was observed among them.
Kodiak had $379 million in cash and cash equivalents as of Jun 30, 2023. Management plans to reassess its near-term strategy.
Kodiak's shares have rallied 1.9% year to date against the industry’s decline of 10%.
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Based on the abovementioned results, the company plans to present data from the DAYLIGHT study and additional insights from the tarcocimab development program at a future medical meeting.
This would include data from the BEACON study, which met its primary endpoint in 2022, for patients with retinal vein occlusion and the GLOW study in non-proliferative diabetic retinopathy patients. The GLOW study result is expected in September.
Looking ahead, Kodiak is determined to continue to develop transformative therapies for prevalent diseases. It is developing KSI-501, a dual inhibitor antibody biopolymer conjugate targeting both VEGF and IL-6, in phase I clinical study for patients with DME.
The phase I study is an open-label, multiple ascending dose study. The primary objectives of the study are to evaluate ocular and systemic safety, and to establish the maximum tolerated dose. The early-stage study enrolled its first patient in April 2023.
Kodiak Sciences Inc. Price and Consensus
Kodiak Sciences Inc. price-consensus-chart | Kodiak Sciences Inc. Quote
Zacks Rank and Stocks to Consider
Kodiak currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and Akoya Biosciences AKYA, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate for ADC Therapeutics has widened from a loss of $2.58 per share to a loss of $2.61 for 2023. The consensus estimate has narrowed from a loss of $2.72 per share to a loss of $2.45 for 2024 during the same time frame. Shares of the company have lost 63% year to date.
ADCT’s earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 10.70%.
In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. Shares of the company have rallied 93.5% year to date.
ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%.
In the past 90 days, the Zacks Consensus Estimate for Akoya Biosciences has narrowed from a loss of $1.80 per share to a loss of $1.71 for 2023. The consensus estimate for Akoya Biosciences has narrowed from a loss of $1.57 per share to a loss of $1.33 for 2024 during the same time frame. Shares of the company have lost 25.5% year to date.
AKYA’s earnings missed estimates in each of the trailing four quarters, delivering an average negative surprise of 21.05%.
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ADC Therapeutics SA (ADCT) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
Kodiak Sciences Inc. (KOD) : Free Stock Analysis Report
Akoya Biosciences, Inc. (AKYA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and Akoya Biosciences AKYA, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%. | Click to get this free report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Kodiak Sciences Inc. (KOD) : Free Stock Analysis Report Akoya Biosciences, Inc. (AKYA) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and Akoya Biosciences AKYA, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. | Click to get this free report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Kodiak Sciences Inc. (KOD) : Free Stock Analysis Report Akoya Biosciences, Inc. (AKYA) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and Akoya Biosciences AKYA, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. | Some better-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and Akoya Biosciences AKYA, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%. |
35592.0 | 2023-07-24 00:00:00 UTC | Commit To Purchase Acadia Pharmaceuticals At $24, Earn 9.4% Annualized Using Options | ACAD | https://www.nasdaq.com/articles/commit-to-purchase-acadia-pharmaceuticals-at-%2424-earn-9.4-annualized-using-options | nan | nan | Investors considering a purchase of Acadia Pharmaceuticals Inc (Symbol: ACAD) stock, but cautious about paying the going market price of $30.14/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the March 2024 put at the $24 strike, which has a bid at the time of this writing of $1.45. Collecting that bid as the premium represents a 6% return against the $24 commitment, or a 9.4% annualized rate of return (at Stock Options Channel we call this the YieldBoost).
Selling a put does not give an investor access to ACAD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. And the person on the other side of the contract would only benefit from exercising at the $24 strike if doing so produced a better outcome than selling at the going market price. (Do options carry counterparty risk? This and six other common options myths debunked). So unless Acadia Pharmaceuticals Inc sees its shares decline 20.2% and the contract is exercised (resulting in a cost basis of $22.55 per share before broker commissions, subtracting the $1.45 from $24), the only upside to the put seller is from collecting that premium for the 9.4% annualized rate of return.
Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $24 strike is located relative to that history:
The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the March 2024 put at the $24 strike for the 9.4% annualized rate of return represents good reward for the risks. We calculate the trailing twelve month volatility for Acadia Pharmaceuticals Inc (considering the last 250 trading day closing values as well as today's price of $30.14) to be 49%. For other put options contract ideas at the various different available expirations, visit the ACAD Stock Options page of StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors considering a purchase of Acadia Pharmaceuticals Inc (Symbol: ACAD) stock, but cautious about paying the going market price of $30.14/share, might benefit from considering selling puts among the alternative strategies at their disposal. Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $24 strike is located relative to that history: The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the March 2024 put at the $24 strike for the 9.4% annualized rate of return represents good reward for the risks. We calculate the trailing twelve month volatility for Acadia Pharmaceuticals Inc (considering the last 250 trading day closing values as well as today's price of $30.14) to be 49%. | Selling a put does not give an investor access to ACAD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $24 strike is located relative to that history: The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the March 2024 put at the $24 strike for the 9.4% annualized rate of return represents good reward for the risks. We calculate the trailing twelve month volatility for Acadia Pharmaceuticals Inc (considering the last 250 trading day closing values as well as today's price of $30.14) to be 49%. | Selling a put does not give an investor access to ACAD's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. So unless Acadia Pharmaceuticals Inc sees its shares decline 20.2% and the contract is exercised (resulting in a cost basis of $22.55 per share before broker commissions, subtracting the $1.45 from $24), the only upside to the put seller is from collecting that premium for the 9.4% annualized rate of return. Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $24 strike is located relative to that history: The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the March 2024 put at the $24 strike for the 9.4% annualized rate of return represents good reward for the risks. | Investors considering a purchase of Acadia Pharmaceuticals Inc (Symbol: ACAD) stock, but cautious about paying the going market price of $30.14/share, might benefit from considering selling puts among the alternative strategies at their disposal. Below is a chart showing the trailing twelve month trading history for Acadia Pharmaceuticals Inc, and highlighting in green where the $24 strike is located relative to that history: The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the March 2024 put at the $24 strike for the 9.4% annualized rate of return represents good reward for the risks. For other put options contract ideas at the various different available expirations, visit the ACAD Stock Options page of StockOptionsChannel.com. |
35593.0 | 2023-07-24 00:00:00 UTC | Alnylam (ALNY) to Co-Develop Hypertension Drug With Roche | ACAD | https://www.nasdaq.com/articles/alnylam-alny-to-co-develop-hypertension-drug-with-roche | nan | nan | Alnylam Pharmaceuticals, Inc. ALNY announced entering into a strategic collaboration with Roche RHHBY to co-develop and co-commercialize zilebesiran for the treatment of hypertension.
Zilebesiran is Alnylam’s investigational, subcutaneously administered RNAi therapeutic targeting angiotensinogen, which is currently being studied in a mid-stage study.
Per ALNY, Roche is a well-suited partner for the development of zilebesiran with its expertise in developing and commercializing novel therapies in complex markets. The agreement will also provide Alnylam access to Roche’s abundant resources and global infrastructure. The company expects that the partnership with RHHBY could potentially enable zilebesiran to reach more patients with hypertension, a disease that affects more than 1.2 billion patients globally.
Year to date, shares of Alnylam have fallen 15.8% compared with the industry’s 10% decline.
Image Source: Zacks Investment Research
Per the terms of the agreement, ALNY is entitled to receive an upfront cash payment of $310 million from RHHBY. Alnylam is also eligible to receive additional payments from Roche upon the fulfillment of certain developmental, regulatory and sales-based milestones, amounting to a potential deal value of up to $2.8 billion.
The agreement also grants Alnylam an equal profit share in the United States, where ALNY and RHHBY will co-commercialize zilebesiran. Outside the United States, the deal grants Roche exclusive right to commercialize zilebesiran, in exchange for low double-digit royalty payments to Alnylam on net sales of zilebesiran, in its territory.
The agreement also states that the company will be leading a joint clinical development plan with Roche for the first indication, which includes a cardiovascular outcomes trial before the submission of zilebesiran for regulatory approval. The cost of the development program will be shared 40% by Alnylam and 60% by Roche. RHHBY has the option to lead development for additional indications in the future.
Alnylam previously reported encouraging results from the phase I study of zilebesiran compared with placebo. In the study, patients treated with ≥200 mg single doses of zilebesiran experienced dose-dependent reductions in serum angiotensinogen. The treated patients achieved tonic blood pressure control with consistent and durable blood pressure reduction throughout a 24-hour period for six months after single doses of zilebesiran. The safety profile of the candidate was also acceptable for continuing development.
The two-pronged phase II KARDIA program is currently evaluating the safety and efficacy of zilebesiran, either as a monotherapy (KARDIA-1) or in combination with one of three standard-of-care antihypertensive medications (KARDIA-2). Alnylam believes that zilebesiran has the potential to be a best-in-disease treatment providing transformational benefit, especially to patients with hypertension at high cardiovascular risk.
Zilebesiran can also have potential effectiveness in additional cardiovascular indications with high unmet medical need. To date, the safety and efficacy of zilebesiran have not been established or evaluated by any regulatory body.
Alnylam Pharmaceuticals, Inc. Price and Consensus
Alnylam Pharmaceuticals, Inc. price-consensus-chart | Alnylam Pharmaceuticals, Inc. Quote
Zacks Rank and Other Stocks to Consider
Alnylam currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 90 days, the Zacks Consensus Estimate for ADC Therapeutics’ 2023 loss per share has widened from $2.58 to $2.61. During the same period, the estimate for ADC Therapeutics’ 2024 loss per share narrowed from $2.72 to $2.45. Year to date, shares of ADCT have lost 63%.
ADCT beat estimates in three of the trailing four quarters, missing the mark on one occasion, delivering an average earnings surprise of 10.70%.
In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. The estimate for Acadia Pharmaceuticals’ 2024 earnings per share is pegged at 47 cents. Year to date, shares of ACAD have rallied 93.5%.
ACAD beat estimates in two of the trailing four quarters, missing the mark on other two occasions, delivering an average negative earnings surprise of 2.75%.
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Alnylam Pharmaceuticals, Inc. (ALNY) : Free Stock Analysis Report
Roche Holding AG (RHHBY) : Free Stock Analysis Report
ADC Therapeutics SA (ADCT) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some other top-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. The estimate for Acadia Pharmaceuticals’ 2024 earnings per share is pegged at 47 cents. | In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. Click to get this free report Alnylam Pharmaceuticals, Inc. (ALNY) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Some other top-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. | Click to get this free report Alnylam Pharmaceuticals, Inc. (ALNY) : Free Stock Analysis Report Roche Holding AG (RHHBY) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Some other top-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. | Some other top-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. The estimate for Acadia Pharmaceuticals’ 2024 earnings per share is pegged at 47 cents. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. |
35594.0 | 2023-07-24 00:00:00 UTC | Horizon's (HZNP) Daxdilimab Fails to Meet Goal in Lupus Study | ACAD | https://www.nasdaq.com/articles/horizons-hznp-daxdilimab-fails-to-meet-goal-in-lupus-study | nan | nan | Horizon Therapeutics plc HZNP announced the failure of the phase II study evaluating daxdilimab for the treatment of systemic lupus erythematosus (SLE) to meet its primary endpoint of low SLE disease activity. Per the data readout, treatment with daxdilimab did not witness a statistically significant benefit over treatment with placebo in achieving a low SLE disease activity and reduction from the baseline oral glucocorticoid dose (OGC) at 48 weeks.
However, numerical differences were reportedly observed in other endpoints. Treatment with daxdilimab did not give rise to any safety concerns during the study. Management will assess the data from the study to determine the next steps for Horizon’s SLE clinical program.
Year to date, shares of HZNP have decreased 11% compared with the industry’s 10% decline.
Image Source: Zacks Investment Research
Horizon’s investigational candidate, daxdilimab, is an anti-ILT7 human monoclonal antibody that depletes certain dendritic cells potentially stopping inflammation of those cells from damaging tissue. The company is evaluating daxdilimab for several other indications, including alopecia areata, discoid lupus erythematosus and lupus nephritis. Additionally, HZNP is also planning to investigate daxdilimab in treating dermatomyositis or anti-synthetase inflammatory myositis.
The phase II study evaluating daxdilimab for the treatment of SLE enrolled 214 patients with moderate-to-severely active SLE. The total patient population was randomized into three parallel arms, receiving either daxdilimab given subcutaneously 200 mg every four weeks, 200 mg every 12 weeks or placebo every four weeks. Additional endpoints of the study included other measures of lupus disease activity and reduction in OGC.
We would like to remind the investors that Horizon is set to be acquired by biotech giant Amgen AMGN for $116.5 per share in cash or $27.8 billion. In May 2023, the Federal Trade Commission (FTC) filed a lawsuit in Federal Court to halt Amgen’s $28 billion acquisition of Horizon.
Per the FTC, if the acquisition is allowed to go through, a large-cap giant like Amgen could leverage its position with insurance companies and pharmacy benefit managers to entrench the monopoly positions for two of Horizon's key products — Tepezza and Krystexxa. Per the agency, the drugs currently face little to no competition in the market and are sold at very high prices to patients.
Horizon, however, stated that the objective of the acquisition deal is to accelerate the availability of important rare disease medicines, with significant unmet needs, to more patients worldwide. HZNP also stated that it has no plans to bundle any of its rare disease medicines, thereby addressing the FTC’s potential concern.
The lawsuit has already postponed the date of closing the transaction from June-end to mid-December 2023.
Horizon Therapeutics Public Limited Company Price and Consensus
Horizon Therapeutics Public Limited Company price-consensus-chart | Horizon Therapeutics Public Limited Company Quote
Zacks Rank and Stocks to Consider
Horizon currently has a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate for ADC Therapeutics’ 2023 loss per share has widened from $2.58 to $2.61. During the same period, the estimate for ADC Therapeutics’ 2024 loss per share narrowed from $2.72 to $2.45. Year to date, shares of ADCT have lost 63%.
ADCT beat estimates in three of the trailing four quarters, missing the mark on one occasion, delivering an average earnings surprise of 10.70%.
In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. The estimate for Acadia Pharmaceuticals’ 2024 earnings per share is pegged at 47 cents. Year to date, shares of ACAD have rallied 93.5%.
ACAD beat estimates in two of the trailing four quarters, missing the mark on other two occasions, delivering an average negative earnings surprise of 2.75%.
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Amgen Inc. (AMGN) : Free Stock Analysis Report
ADC Therapeutics SA (ADCT) : Free Stock Analysis Report
Horizon Therapeutics Public Limited Company (HZNP) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A couple of better-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. ACAD beat estimates in two of the trailing four quarters, missing the mark on other two occasions, delivering an average negative earnings surprise of 2.75%. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. | In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. Click to get this free report Amgen Inc. (AMGN) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report Horizon Therapeutics Public Limited Company (HZNP) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of better-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. | Click to get this free report Amgen Inc. (AMGN) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report Horizon Therapeutics Public Limited Company (HZNP) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. A couple of better-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. | A couple of better-ranked stocks in the same industry are ADC Therapeutics ADCT and Acadia Pharmaceuticals ACAD, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals’ 2023 loss per share has narrowed from 58 cents to 31 cents. The estimate for Acadia Pharmaceuticals’ 2024 earnings per share is pegged at 47 cents. |
35595.0 | 2023-07-24 00:00:00 UTC | Roche (RHHBY) SMA Drug Gets Positive CHMP Opinion for Expanded Use | ACAD | https://www.nasdaq.com/articles/roche-rhhby-sma-drug-gets-positive-chmp-opinion-for-expanded-use | nan | nan | Roche RHHBY announced that its spinal muscular atrophy (SMA) drug, Evrysdi (risdiplam), has received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) for extended use.
The CHMP recommended extending the drug’s marketing authorization in the European Union (EU) to treat infants with SMA (from birth to below two months of age).
The positive opinion was adopted on an interim analysis of the ongoing RAINBOWFISH study, which focuses on pre-symptomatic babies with SMA type I from birth to six weeks of age.
The interim analysis showed that all the infants enrolled were able to sit independently after one year of treatment with Evrysdi. Additionally, 67% could stand and 50% could walk without any aid. Furthermore, all infants were alive at 12 months, without the need of permanent ventilation.
Evrysdi is currently approved in the EU for the treatment of SMA patients aged two months or older.
Apart from RAINBOWFISH, the drug is currently being evaluated in four other studies in SMA patients.
These studies include SUNFISH, a two-part, double-blind, placebo-controlled pivotal study in those aged 2-25 years with types II or III SMA; JEWELFISH, an open-label exploratory study designed to assess the safety, tolerability, pharmacokinetics and pharmacodynamics in people with SMA aged 6 months to 60 years who received other investigational or approved SMA therapies for at least 90 days before receiving Evrysdi; and FIREFISH, an open-label, two-part pivitol study in infants with type I SMA.
MANATEE is a global phase II/III study, evaluating the safety and efficacy of GYM329, an anti-myostatin molecule targeting muscle growth, in combination with Evrysdi for the treatment of SMA in patients aged 2-10 years.
Roche’s shares have rallied 1.7% year to date compared with the industry’s growth of 3.3%.
Image Source: Zacks Investment Research
We note that Evrysdi is already a key contributor to Roche’s top line. Pharmaceuticals Division sales increased 9% in the first quarter of 2023 and Evrysdi was one of the top five contributors to this growth, apart from Vabysmo, Ocrevus (multiple sclerosis), Hemlibra (hemophilia) and Tecentriq (cancer immunotherapy).
The final decision regarding the abovementioned approval of the extension is expected from the European Commission later this year. Once approved, Evrysdi will become a vital treatment option for infants with SMA (from birth to below two months of age) in the EU, complementing its existing approval for patients aged two months or older.
Roche Holding AG Price and Consensus
Roche Holding AG price-consensus-chart | Roche Holding AG Quote
Zacks Rank and Stocks to Consider
Roche currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and Akoya Biosciences AKYA, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate for ADC Therapeutics has widened from a loss of $2.58 per share to a loss of $2.61 for 2023. The consensus estimate has narrowed from a loss of $2.72 per share to a loss of $2.45 for 2024 during the same time frame. Shares of the company have lost 63% year to date.
ADCT’s earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 10.70%.
In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. Shares of the company have rallied 93.5% year to date.
ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%.
In the past 90 days, the Zacks Consensus Estimate for Akoya Biosciences has narrowed from a loss of $1.80 per share to a loss of $1.71 for 2023. The consensus estimate for Akoya Biosciences has narrowed from a loss of $1.57 per share to a loss of $1.33 for 2024 during the same time frame. Shares of the company have lost 25.5% year to date.
AKYA’s earnings missed estimates in each of the trailing four quarters, delivering an average negative surprise of 21.05%.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Roche Holding AG (RHHBY) : Free Stock Analysis Report
ADC Therapeutics SA (ADCT) : Free Stock Analysis Report
ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
Akoya Biosciences, Inc. (AKYA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and Akoya Biosciences AKYA, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%. | Some better-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and Akoya Biosciences AKYA, each carrying a Zacks Rank #2 (Buy) at present. Click to get this free report Roche Holding AG (RHHBY) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Akoya Biosciences, Inc. (AKYA) : Free Stock Analysis Report To read this article on Zacks.com click here. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. | Click to get this free report Roche Holding AG (RHHBY) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report Akoya Biosciences, Inc. (AKYA) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and Akoya Biosciences AKYA, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. | Some better-ranked stocks in the same industry are ADC Therapeutics ADCT, Acadia Pharmaceuticals ACAD and Akoya Biosciences AKYA, each carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for Acadia Pharmaceuticals has narrowed from a loss of 58 cents per share to a loss of 31 cents for 2023. ACAD’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%. |
35596.0 | 2023-07-21 00:00:00 UTC | Validea Detailed Fundamental Analysis - ACAD | ACAD | https://www.nasdaq.com/articles/validea-detailed-fundamental-analysis-acad | nan | nan | Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental momentum and price momentum.
ACADIA PHARMACEUTICALS INC (ACAD) is a mid-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 94% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
FUNDAMENTAL MOMENTUM: PASS
TWELVE MINUS ONE MOMENTUM: PASS
FINAL RANK: PASS
Detailed Analysis of ACADIA PHARMACEUTICALS INC
ACAD Guru Analysis
ACAD Fundamental Analysis
More Information on Dashan Huang
Dashan Huang Portfolio
About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. His paper "Twin Momentum" looked at combining traditional price momentum with improving fundamentals to generate market outperformance. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure. He showed that stocks in the top 20% of the universe according to that measure outperformed the market going forward. When he combined that measure with price momentum, he was able to double its outperformance.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACADIA PHARMACEUTICALS INC (ACAD) is a mid-cap growth stock in the Biotechnology & Drugs industry. Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. | Of the 22 guru strategies we follow, ACAD rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. Detailed Analysis of ACADIA PHARMACEUTICALS INC ACAD Guru Analysis ACAD Fundamental Analysis More Information on Dashan Huang Dashan Huang Portfolio About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). | Detailed Analysis of ACADIA PHARMACEUTICALS INC ACAD Guru Analysis ACAD Fundamental Analysis More Information on Dashan Huang Dashan Huang Portfolio About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. | Below is Validea's guru fundamental report for ACADIA PHARMACEUTICALS INC (ACAD). Of the 22 guru strategies we follow, ACAD rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. ACADIA PHARMACEUTICALS INC (ACAD) is a mid-cap growth stock in the Biotechnology & Drugs industry. |
35597.0 | 2023-07-21 00:00:00 UTC | GSK Gears Up for Q2 Earnings: Will It Surpass Estimates? | ACAD | https://www.nasdaq.com/articles/gsk-gears-up-for-q2-earnings%3A-will-it-surpass-estimates | nan | nan | We expect GSK plc. GSK to beat expectations when it reports second-quarter 2023 results on Jul 26. In the last reported quarter, the company delivered an earnings surprise of 5.88%.
Factors to Note
GSK reports financial figures under three segments — Specialty Medicines, Vaccines and General Medicines.
In the second quarter, higher sales of newer products like Cabenuva, Dovato, Breo Ellipta, Shingrix and Bexsero are likely to have been offset by the decline in sales of older HIV drugs and respiratory medicines due to generic erosion and competitive pressure. Our model suggests the Respiratory sales to be around £1.65 billion for the quarter.
In HIV, the strong sales growth trend witnessed in recent quarters of the two-drug regimens, Juluca and Dovato, and long-acting regimens, Cabenuva and Apretude, might have partially offset the losses in sales of the three-drug regimens during the to-be-reported quarter. Our model estimates sales from the HIV portfolio to be £1.36 billion for the quarter.
Sales of COPD inhalers Trelegy Ellipta and Breo Ellipta are likely to have been an important contributor to second-quarter 2023 sales. Our model suggests Trelegy Ellipta and Breo Ellipta sales to stand at around £449 million and £310 million, respectively.
GSK’s key vaccine, Shingrix’s sales showed a strong demand recovery in the United States, which — coupled with new launches in different countries — benefited sales in recent quarters. We expect this trend to have continued in the second quarter. Our model predicts shingles vaccine sales to be around £937 million.
Sales of meningitis and influenza vaccines have shown a strong recovery in recent quarters on the back of CDC purchases in the United States. The trend is likely to have continued in the second quarter. Our model suggests meningitis vaccine sales (including Bexsero) to be around £317 million, while influenza vaccine sales are expected to be around £21 million.
Oncology sales are likely to have witnessed a decline due to lower Blenrep sales, following withdrawal from the U.S. market last November. Our model suggests that the Oncology portfolio is likely to have generated around £134 million in sales.
Key Development in Q2
In May 2023, the FDA granted approval to Arexvy, GSK’s respiratory syncytial virus (RSV) vaccine, for the prevention of lower respiratory tract disease (LRTD) caused by RSV in older adults. This was the first RSV vaccine for older adults to be approved anywhere in the world. The U.S. US Centers for Disease Control and Prevention (CDC) has also recommended using the RSV vaccines and the same is expected to be available in the upcoming fall season.
Arexvy also received marketing authorization in the European Union last month. A commercial rollout for the vaccine has been planned ahead of the upcoming RSV season, which usually starts in the autumn.
Earnings Surprise History
GSK’s earnings surpassed estimates in each of the trailing four quarters, delivering a beat of 12.48% on average.
GSK PLC Sponsored ADR Price and EPS Surprise
GSK PLC Sponsored ADR price-eps-surprise | GSK PLC Sponsored ADR Quote
Shares of GSK have outperformed the industry in the year so far. The stock has gained 1.6% against the industry’s 8.6% decline.
Image Source: Zacks Investment Research
Earnings Whispers
Our proven model predicts an earnings beat for GSK this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: GSK has an Earnings ESP of 0.59% as the Most Accurate Estimate of 86 cents per ADR is higher than the Zacks Consensus Estimate of 85 cents.
Zacks Rank: GSK currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are some biotech stocks that have the right combination of elements to beat on earnings this time around:
Acadia Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2.
Acadia’s stock has surged 96.4% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. Acadia reported a negative earnings surprise of 14.29%, on average. The company will report its second-quarter results on Aug 2, after market close.
ADC Therapeutics ADCT has an Earnings ESP of +52.73% and a Zacks Rank #2.
In the year so far, ADC Therapeutics’ stock has lost 60.9%. ADCT beat earnings estimates in three of the last four quarters while missing the mark on one occasion. ADC Therapeutics delivered an earnings surprise of 10.70%, on average.
Moderna MRNA has an Earnings ESP of +2.83% and a Zacks Rank #3.
Moderna’s stock has declined 31.7% this year so far. MRNA beat earnings estimates in two of the last four quarters while missing in the other two. Moderna has a four-quarter earnings surprise of 21.97%, on average. The company is scheduled to release its second-quarter results on Aug 3, before the opening bell.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks to Consider Here are some biotech stocks that have the right combination of elements to beat on earnings this time around: Acadia Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. Acadia’s stock has surged 96.4% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. | Click to get this free report GSK PLC Sponsored ADR (GSK) : Free Stock Analysis Report Moderna, Inc. (MRNA) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Stocks to Consider Here are some biotech stocks that have the right combination of elements to beat on earnings this time around: Acadia Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. Acadia’s stock has surged 96.4% in the year-to-date period. | Stocks to Consider Here are some biotech stocks that have the right combination of elements to beat on earnings this time around: Acadia Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. Click to get this free report GSK PLC Sponsored ADR (GSK) : Free Stock Analysis Report Moderna, Inc. (MRNA) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. Acadia’s stock has surged 96.4% in the year-to-date period. | Stocks to Consider Here are some biotech stocks that have the right combination of elements to beat on earnings this time around: Acadia Pharmaceuticals ACAD has an Earnings ESP of +38.26% and a Zacks Rank #2. Acadia’s stock has surged 96.4% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. |
35598.0 | 2023-07-21 00:00:00 UTC | Is ACADIA Pharmaceuticals (ACAD) Stock Outpacing Its Medical Peers This Year? | ACAD | https://www.nasdaq.com/articles/is-acadia-pharmaceuticals-acad-stock-outpacing-its-medical-peers-this-year | nan | nan | For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Acadia Pharmaceuticals (ACAD) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Acadia Pharmaceuticals is a member of our Medical group, which includes 1119 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Acadia Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ACAD's full-year earnings has moved 46.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ACAD has moved about 96.4% | Acadia Pharmaceuticals is a member of our Medical group, which includes 1119 different companies and currently sits at #8 in the Zacks Sector Rank. Is Acadia Pharmaceuticals (ACAD) one of those stocks right now? Acadia Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy). | Acadia Pharmaceuticals is a member of our Medical group, which includes 1119 different companies and currently sits at #8 in the Zacks Sector Rank. Is Acadia Pharmaceuticals (ACAD) one of those stocks right now? Acadia Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy). | Acadia Pharmaceuticals is a member of our Medical group, which includes 1119 different companies and currently sits at #8 in the Zacks Sector Rank. Is Acadia Pharmaceuticals (ACAD) one of those stocks right now? Acadia Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy). | Is Acadia Pharmaceuticals (ACAD) one of those stocks right now? Acadia Pharmaceuticals is a member of our Medical group, which includes 1119 different companies and currently sits at #8 in the Zacks Sector Rank. Within the past quarter, the Zacks Consensus Estimate for ACAD's full-year earnings has moved 46.8% higher. |
35599.0 | 2023-07-21 00:00:00 UTC | Alkermes (ALKS) to Report Q2 Earnings: What's in the Cards? | ACAD | https://www.nasdaq.com/articles/alkermes-alks-to-report-q2-earnings%3A-whats-in-the-cards | nan | nan | Alkermes ALKS is scheduled to report second-quarter 2023 results on Jul 26.
Its earnings surprise history has been decent so far. The bottom line surpassed estimates in three of the trailing four quarters and met the mark in one, delivering an average surprise of 90.83%.
Shares of Alkermes have risen 22.4% year to date against the industry’s 8.6% decline.
Image Source: Zacks Investment Research
Let's see how things might have shaped up in the soon-to-be-reported quarter.
Factors to Consider
Alkermes’ revenue growth in the second quarter is likely to have been driven by the rapid uptake in the commercialization of therapies targeting major central nervous system (CNS) disorders, including schizophrenia, depression, addiction and multiple sclerosis.
The company derives revenues on net sales of its proprietary products — Vivitrol (alcohol and opioid dependence), Aristada (schizophrenia) and Lybalvi (schizophrenia and bipolar I disorder) — and manufacturing and/or royalty revenues on net sales of products commercialized by its partners.
Alkermes’ newly approved drug, Lybalvi’s sales are expected to have been boosted by robust demand-led growth and increased patient share. The drug witnessed a 173% improvement in sales in the first quarter and the momentum is likely to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for Lybalvi’s sales is pegged at $46.14 million.
Other growth drivers like Vivitrol and Aristada might have had maintained the growth momentum for Alkermes. Both these drugs experienced more than 10% growth in sales in the first quarter. This trend is likely to have prevailed in the second quarter.
The Zacks Consensus Estimate for Alkermes’ revenues from net product sales is pegged at $228.26 million.
Other Updates
Alkermes is making progress in separating its oncology business into a new, publicly-traded company called Mural Oncology plc. The separation will allow the company to focus on developing therapies for neurological conditions and improving profitability. Investors can expect an update on the separation as the company expects to complete the separation in the second half of 2023.
In June, Alkermes received a final award in its arbitration proceedings with Janssen Pharmaceuticals, a subsidiary of J&J JNJ. The final award confirms previous findings by the tribunal that Janssen can terminate license agreements but must pay royalties to Alkermes for products developed during the agreements. Royalties for Invega Sustenna will end in August 2024, while that for Invega Trinza and Invega Hafyera in 2030 and Cabenuva in 2036.
ALKS is entitled to back royalties and interests of around $194 million for 2022 sales, leading to a revised financial outlook for 2023. Total revenues are now expected in the range of $1,550-$1,680 million compared with the previous guidance of $1,130-$1,250 million.
Alkermes plc Price and EPS Surprise
Alkermes plc price-eps-surprise | Alkermes plc Quote
What Our Zacks Model Unveils
Our proven model does not predict an earnings beat for Alkermes this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below.
Earnings ESP: Alkermes has an Earnings ESP of -7.45% as the Most Accurate Estimate of 29 cents per share is lower than the Zacks Consensus Estimate of 31 cents. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: Alkermes currently sports a Zacks Rank #1.
Stocks to Consider
Here are a few stocks worth considering from the overall healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ACAD’s shares have rallied 96.4% in the year-to-date period. Its earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative surprise of 2.75%. The company will report second-quarter earnings on Aug 2, after market close.
ADC Therapeutics ADCT has an Earnings ESP of +52.73% and a Zacks Rank #2 at present.
ADCT’s shares have lost 60.9% year to date. Its earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 10.7%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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Johnson & Johnson (JNJ) : Free Stock Analysis Report
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ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 96.4% in the year-to-date period. Click to get this free report Johnson & Johnson (JNJ) : Free Stock Analysis Report Alkermes plc (ALKS) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Johnson & Johnson (JNJ) : Free Stock Analysis Report Alkermes plc (ALKS) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 96.4% in the year-to-date period. | Click to get this free report Johnson & Johnson (JNJ) : Free Stock Analysis Report Alkermes plc (ALKS) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 96.4% in the year-to-date period. | ACADIA Pharmaceuticals (ACAD) has an Earnings ESP of +38.26% and a Zacks Rank #2 at present. ACAD’s shares have rallied 96.4% in the year-to-date period. Click to get this free report Johnson & Johnson (JNJ) : Free Stock Analysis Report Alkermes plc (ALKS) : Free Stock Analysis Report ADC Therapeutics SA (ADCT) : Free Stock Analysis Report ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report To read this article on Zacks.com click here. |
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