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Acadia Pharmaceuticals (ACAD) Beats Q3 Earnings and Revenue Estimates
ACADACADIA Pharmaceuticals(ACAD) ZACKS·2024-11-06 23:21

Core Insights - Acadia Pharmaceuticals reported quarterly earnings of 0.20pershare,exceedingtheZacksConsensusEstimateof0.20 per share, exceeding the Zacks Consensus Estimate of 0.13 per share, and showing a significant improvement from a loss of 0.40pershareayearago,resultinginanearningssurpriseof53.850.40 per share a year ago, resulting in an earnings surprise of 53.85% [1] - The company achieved revenues of 250.4 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.46% and reflecting a year-over-year increase from 211.7million[2]−Acadiashareshaveunderperformedthemarket,losingapproximately52.1211.7 million [2] - Acadia shares have underperformed the market, losing approximately 52.1% since the beginning of the year, while the S&P 500 has gained 21.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is 0.08 on revenues of 255.72million,andforthecurrentfiscalyear,itis255.72 million, and for the current fiscal year, it is 0.51 on revenues of 952.8million[7]−TheestimaterevisionstrendforAcadiaismixed,leadingtoaZacksRank3(Hold)forthestock,indicatingexpectedperformanceinlinewiththemarketinthenearfuture[6]IndustryContext−TheMedical−BiomedicalandGeneticsindustry,towhichAcadiabelongs,iscurrentlyrankedinthetop38952.8 million [7] - The estimate revisions trend for Acadia is mixed, leading to a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Acadia belongs, is currently ranked in the top 38% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, Fortrea Holdings Inc., is expected to report quarterly earnings of 0.27 per share, reflecting a year-over-year change of +12.5%, with revenues anticipated to be $674.08 million, down 13.2% from the previous year [9][10]