Shares of Acadia Healthcare Company, Inc. (NASDAQ:ACHC) are soaring 5.13% in pre-market trading on Tuesday, following the company's impressive first-quarter financial results released after Monday's closing bell. The behavioral healthcare services provider demonstrated robust performance, surpassing analyst expectations.
Acadia Healthcare reported adjusted earnings of 40 cents per share for the first quarter, comfortably beating market estimates of 36 cents per share. The company's quarterly sales also exceeded expectations, coming in at $770.50 million compared to the anticipated $769.84 million. This strong financial showing has evidently boosted investor confidence, driving the stock's significant uptick.
The positive sentiment around Acadia Healthcare is further reinforced by analyst endorsements. Bank of America Securities analyst Joanna Gajuk reiterated a Buy rating on the stock, while TD Cowen analyst Ryan Langston maintained a Buy rating with a price target of $44.00. These analyst actions suggest continued optimism about Acadia's growth prospects and financial health, potentially contributing to the stock's pre-market rally.
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