SAN DIEGO (AP) — SAN DIEGO (AP) — Acadia Pharmaceuticals Inc. (ACAD) on Wednesday reported second-quarter net income of $26.7 million.
The San Diego-based company said it had net income of 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 14 cents per share.
The drugmaker posted revenue of $264.6 million in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $259.7 million.
Acadia expects full-year revenue in the range of $1.05 billion to $1.1 billion.
Acadia shares have increased 29% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.61, an increase of 25% 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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