Is Acadia Pharmaceuticals a Buy?
Many businesses have seen their shares tumble in the recent market plunge. Fortunately for Acadia Pharmaceuticals (NASDAQ: ACAD), it is one of the few biotech stocks seeing positive returns. It is up 16% year to date, outperforming both the SPDR S&P Biotech ETF and the iShares Nasdaq Biotechnology ETF.
The company began the year with a momentous start from its lead drug, Nuplazid (pimavanserin), a treatment for hallucinations associated with Parkinson's disease psychosis (PDP). In its first-quarter earnings report, released May 7, Acadia reported revenue of $90.1 million, a 43% increase year over year, and posted a net loss of $88 million, or $0.57 per share. Despite the challenges of the recent pandemic, investors liked what they heard from the recent earnings call.
Here are the key takeaways for Acadia Pharmaceuticals.
Source Fool.com
