SAN DIEGO (AP) — SAN DIEGO (AP) — Acadia Pharmaceuticals Inc. (ACAD) on Wednesday reported third-quarter net income of $32.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Diego-based company said it had profit of 20 cents.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The drugmaker posted revenue of $250.4 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $249.3 million.
Acadia expects full-year revenue in the range of $940 million to $960 million.
Acadia shares have fallen 50% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.74, a decrease of 34% in the last 12 months.
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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
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