Is Acadia Pharmaceuticals Stock Now a Buy?
Acadia Pharmaceuticals (NASDAQ: ACAD), a mid-cap biopharma, reported stronger-than-expected third-quarter earnings after the closing bell yesterday. Specifically, the company topped FactSet's Q3 consensus estimate for quarterly revenue ($94.6 million vs. $88.5 million), and it also posted a considerably lower net loss per share (-$0.29 vs. -$0.40).
Even so, the biopharma's stellar Q3 numbers failed to excite investors. Acadia's shares, in fact, dipped by a modest 0.46% in after-hours trading yesterday immediately following this earnings release. Should investors change their tune toward Acadia's stock after this standout quarter, or is yesterday's muted reaction appropriate in light of the company's near-term outlook? Let's dig deeper to find out.
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Source Fool.com
