ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) on Tuesday reported second-quarter earnings, which consisted of a better than expected loss per share (53 cents versus expectations for 62 cents)and a revenue beat ($35.6 million versus expectations for $32.03 million).
Sales of the company's only therapy, Nuplazid, saw a notable uptake from $5.27 million in the same quarter a year ago.
H.C. Wainwright & Co's Andrew Fein.
Fein maintains a Buy rating on Acadia's stock with an unchanged $60 price target.
Acadia's third-quarter earnings, highlighted by strong sales of Nuplazid and a more encouraging full-year revenue guidance shows the "solid underlying market dynamics and validation" of Nuplazid's value, Fein said in his report.
Nuplazid's momentum seen in the quarter could be sustained over time due to various factors, including specialty LTC, awareness campaigns, patient and physician satisfaction, and psychiatrists/neurologists engagement.
The company could see success in its pimavanserin therapy which has "multiple shots on goal to expand the label into other patient populations, and it may be positioned as a general antipsychotic drug."
Selling The News In Acadia Pharmaceuticals
Pros And Cons Of All The News Out Of Acadia Pharma This Week
Latest Ratings for ACAD
|Feb 2017||Ladenburg Thalmann||Assumes||Buy||Buy|
|Nov 2016||Goldman Sachs||Initiates Coverage On||Neutral|
|Nov 2016||Bank of America||Upgrades||Neutral||Buy|
View More Analyst Ratings for ACAD
View the Latest Analyst Ratings
See more from Benzinga
- Amazon's New Private-Label Furniture Business: Everything You Should Know
- Sally Beauty Gets A Rating Makeover, Morgan Stanley Downgrades
- A New Path To Cryptocurrencies: Bjork
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.