ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) is having a great start to the trading session this morning after reporting its financial results for the first quarter of 2018. Of course, the report was positive, exciting investors. Today, we’ll talk about:
- What we saw from the earnings report;
- what we’re seeing from ACAD as a result;
- and what we’ll be watching for ahead.
ACAD Reports Financial Results
As mentioned above, Acadia Pharmaceuticals is having an incredibly strong start to the trading session this morning after reporting its financial results for the first quarter of 2018. Here’s what we saw from the report:
- Loss – When it comes to the loss for the quarter, the company did overwhelmingly well. During the first quarter analysts expected that the company would report a loss of $0.56 per share. However, the company actually reported a much narrower loss at just $0.44 per share.
- Revenue – Revenue also proved to be a sign of strength for ACAD. During the quarter, analysts expected that the company would generate revenue in the amount of $46.7 million. However, the company actually reported revenue in the amount of $48.9 million.
- Guidance – Finally, the company reported revenue guidance for the full year. During the year, it is expecting to generate between $255 and $270 million in revenue.
In a statement, Steve Davis, President and CEO at ACAD, had the following to offer:
NUPLAZID delivered strong performance in the first quarter of 2018. Sequential volume growth of 13.5% drove sequential revenue growth of 12% as health care providers and patients continue to experience the benefits of NUPLAZID in treating the symptoms of Parkinson’s disease psychosis… Our R&D organization also continued to advance our late-stage clinical programs in four major CNS indications and we look forward to providing top-line results from our Phase 2 study of pimavanserin in major depressive disorder in the second half of 2018. We remain confident in the tremendous opportunities ahead for NUPLAZID, which is early in its growth phase.
What We’re Seeing From The Stock
Earnings season is one of my favorite seasons of the year. After all, financial results give investors insight into the well-being of the company they’er investing in. In the case of Acadia Pharmaceuticals, the financial results proved to be overwhelmingly positive, leading to excitement among investors and sending the stock screaming for the top. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:50), ACAD is trading at $17.23 per share after a gain of $1.19 per share or 7.42% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ACAD. In particular, we’re interested in following the story surrounding the company’s continued growth and road toward profits. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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