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Why Is Acadia (ACAD) Down 13.9% Since Last Earnings Report?
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It has been about a month since the last earnings report for Acadia Pharmaceuticals (ACAD - Free Report) . Shares have lost about 13.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Acadia due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Acadia’s Q1 Earnings & Revenues Fall Shy of Estimates
Acadia reported first-quarter 2022 loss of 70 cents per share, wider than the Zacks Consensus Estimate of a loss of 49 cents. In the year-ago quarter, the company had incurred a loss of 42 cents per share.
Total revenues, comprising net sales of Nuplazid, increased 8% year over year to $115.5 million in the first quarter, driven by demand growth. The top line, however, missed the Zacks Consensus Estimate of $124 million. Nuplazid sales declined 11.7% sequentially in the reported quarter.
Quarter in Detail
Research and development (R&D) expenses were $128.9 million for the quarter, significantly up from the year-ago quarter. This was due to an upfront payment of $60 million made to Stoke Therapeutics under the collaboration agreement entered in January 2022.
Selling, general and administrative (SG&A) expenses were $96.7 million, down 13.4% year over year, owing to reduced advertising and promotional costs as well as lower personnel expenses.
As of Mar 31, 2022, Acadia had cash, cash equivalents and investments worth $446 million compared with $520.7 million as of Dec 31, 2021.
2022 Guidance
Acadia reiterated the financial guidance for 2022 it had provided earlier this year.
The company expects Nuplazid net sales of $510-$560 million for 2022.
The company expects R&D expenses of $355-$375 million while SG&A expenses are expected to be $360-$380 million in 2022.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates review.
The consensus estimate has shifted 10.7% due to these changes.
VGM Scores
At this time, Acadia has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Acadia has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Why Is Acadia (ACAD) Down 13.9% Since Last Earnings Report?
It has been about a month since the last earnings report for Acadia Pharmaceuticals (ACAD - Free Report) . Shares have lost about 13.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Acadia due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Acadia’s Q1 Earnings & Revenues Fall Shy of Estimates
Acadia reported first-quarter 2022 loss of 70 cents per share, wider than the Zacks Consensus Estimate of a loss of 49 cents. In the year-ago quarter, the company had incurred a loss of 42 cents per share.
Total revenues, comprising net sales of Nuplazid, increased 8% year over year to $115.5 million in the first quarter, driven by demand growth. The top line, however, missed the Zacks Consensus Estimate of $124 million. Nuplazid sales declined 11.7% sequentially in the reported quarter.
Quarter in Detail
Research and development (R&D) expenses were $128.9 million for the quarter, significantly up from the year-ago quarter. This was due to an upfront payment of $60 million made to Stoke Therapeutics under the collaboration agreement entered in January 2022.
Selling, general and administrative (SG&A) expenses were $96.7 million, down 13.4% year over year, owing to reduced advertising and promotional costs as well as lower personnel expenses.
As of Mar 31, 2022, Acadia had cash, cash equivalents and investments worth $446 million compared with $520.7 million as of Dec 31, 2021.
2022 Guidance
Acadia reiterated the financial guidance for 2022 it had provided earlier this year.
The company expects Nuplazid net sales of $510-$560 million for 2022.
The company expects R&D expenses of $355-$375 million while SG&A expenses are expected to be $360-$380 million in 2022.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates review.
The consensus estimate has shifted 10.7% due to these changes.
VGM Scores
At this time, Acadia has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Acadia has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.