SAN DIEGO (AP) — SAN DIEGO (AP) — Acadia Pharmaceuticals Inc. (ACAD) on Tuesday reported second-quarter profit of $33.4 million.
The San Diego-based company said it had net income of 20 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The drugmaker posted revenue of $242 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $235.3 million.
Acadia expects full-year revenue in the range of $930 million to $980 million.
Acadia shares have declined 40% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.85, a decline of 30% 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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