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ACADIA Posts Narrower than Expected Loss in Q1, Sales Beat

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ACADIA Pharmaceuticals, Inc .ACAD focuses on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system (CNS) disorders. The company has a portfolio of product opportunities led by its key drug, Nuplazid (pimavanserin), which was approved by the FDA in April, 2016 for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis, (PD) Psychosis, and is the only drug approved in the United States for this condition. The company has worldwide commercialization rights to Nuplazid. The company plans to continue to study the use of Nuplazid in multiple disease states.

The company’s track record has been impressive. Over the last four quarters, the company has beaten estimates on all four occasions. Overall, ACADIA has posted an average positive earnings surprise of 11.24% for the trailing four quarters.

Currently, ACADIA has a Zacks Rank #2 (Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: ACADIA posted narrower than expected loss in the first quarter of 2018. Our consensus called for loss per share of 56 cents, and the company reported loss of 44 cents.

Revenue: Revenues, also, beat expectations. ACADIA posted revenues of $48.9 million, compared to our consensus estimate of $47 million.

Key Stats:Nuplazid delivered strong performance in the first quarter of 2018 and reported sales of $48.9 million in the quarter, an increase of 220% year over year.

2018 Guidance: The company reiterates its guidance for full-year Nuplazid net product sales for 2018 and expects it to be in the range of $255 million and $270 million. For the second quarter of 2018, ACADIA expects Nuplazid net sales to be between $57 million and $61 million. The company expects strong volume growth for Nuplazid.

Share Price Impact:Share went up 7.5% in pre-market trading.

 

ACADIA Pharmaceuticals Inc. Price and Consensus

 

ACADIA Pharmaceuticals Inc. Price and Consensus | ACADIA Pharmaceuticals Inc. Quote

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