SAN DIEGO (AP) — SAN DIEGO (AP) — Acadia Pharmaceuticals Inc. (ACAD) on Wednesday reported fourth-quarter net income of $143.7 million.
The San Diego-based company said it had net income of 86 cents per share. Earnings, adjusted for non-recurring gains, were 17 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The drugmaker posted revenue of $259.6 million in the period, exceeding Street forecasts. Eight analysts surveyed by Zacks expected $255 million.
For the year, the company reported net income of $226.5 million, or $1.36 per share, swinging to a profit in the period. Revenue was reported as $957.8 million.
Acadia expects full-year revenue in the range of $1.03 billion to $1.1 billion.
Acadia shares have climbed 3.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19, a decrease of 27% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACAD at https://www.zacks.com/ap/ACAD
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