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.

Continue reading

Source Fool.com