Acadia: Q4 Earnings Snapshot
SAN DIEGO (AP) — SAN DIEGO (AP) — Acadia Pharmaceuticals Inc. (ACAD) on Wednesday reported fourth-quarter earnings of $273.6 million.
On a per-share basis, the San Diego-based company said it had net income of $1.60. Earnings, adjusted for pretax gains, were 16 cents per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The drugmaker posted revenue of $284 million in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $292.6 million.
For the year, the company reported profit of $391 million, or $2.30 per share. Revenue was reported as $1.07 billion.
Acadia expects full-year revenue in the range of $1.22 billion to $1.28 billion.
Acadia shares have dropped slightly more than 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.02, a climb of 32% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACAD at https://www.zacks.com/ap/ACAD