Acadia Pharmaceuticals (ACAD) Tops Q1 Earnings Estimates

Company Performance - Acadia Pharmaceuticals reported quarterly earnings of $0.10 per share, exceeding the Zacks Consensus Estimate of $0.04 per share, compared to a loss of $0.27 per share a year ago, representing an earnings surprise of 150% [1] - The company posted revenues of $205.83 million for the quarter ended March 2024, which missed the Zacks Consensus Estimate by 0.52%, but increased from $118.46 million year-over-year [1] - Over the last four quarters, Acadia has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [1] Stock Performance - Acadia shares have declined approximately 44.9% since the beginning of the year, contrasting with the S&P 500's gain of 8.8% [2] - The current Zacks Rank for Acadia is 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.20 on revenues of $241.7 million, and for the current fiscal year, it is $0.62 on revenues of $967.9 million [4] - The trend of estimate revisions for Acadia is mixed, and changes in estimates for the coming quarters and current fiscal year are anticipated following the recent earnings report [4] Industry Context - The Medical - Biomedical and Genetics industry, to which Acadia belongs, is currently in the top 36% of over 250 Zacks industries, indicating a favorable outlook [5] - Another company in the same industry, Biofrontera Inc., is expected to report a quarterly loss of $1.63 per share, reflecting a year-over-year change of +63%, with revenues projected at $11.52 million, up 32% from the previous year [5][6]