Acadia Pharmaceuticals Inc. (ACAD) on Wednesday reported second-quarter net income of $1.1 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 net income of 1 cent.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The drugmaker posted revenue of $165.2 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $154.3 million.
Acadia shares have increased 83% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.20, a climb of 95% in the last 12 months.
https://finance.yahoo.com/news/acadia-q2-earnings-snapshot-202658911.html
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