SAN DIEGO (AP) — SAN DIEGO (AP) — Acadia Pharmaceuticals Inc. (ACAD) on Tuesday reported second-quarter profit of $31.5 million.
The San Diego-based company said it had profit of 18 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The drugmaker posted revenue of $308 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $293.8 million.
Acadia expects full-year revenue in the range of $1.24 billion to $1.3 billion.
Acadia shares have risen 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27, an increase of 12% 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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