Healthcare

Momentum Stock in Focus: ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD)

Oliver Rider 152 Views , 

ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) changed 0.17% to recent value of $46.41. The stock transacted 765114 shares during most recent day however it has an average volume of 2059.76K shares. It spotted trading -2.89% off 52-week high price. On the other end, the stock has been noted 231.26% away from the low price over the last 52-weeks.

ACADIA Pharmaceuticals Inc. (ACAD) recently reported its financial results for the third quarter ended September 30, 2019.

Financial Results

Revenue
Net sales of NUPLAZID® (pimavanserin) were $94.6M for the three months ended September 30, 2019, a raise of 62% as contrast to $58.3M stated for the three months ended September 30, 2018. Third quarter 2019 gross-to-net reduced to 11.0%, as contrast to 13.3% in the third quarter 2018, primarilyBecause of a favorable adjustment to our Medicare accrual. This adjustment resulted in a $2.2M increase in third quarter 2019 net sales. For the nine months ended September 30, 2019 and 2018, ACADIA stated net product sales of $240.8M and $164.2M, respectively.

Research and Development
Research and development expenses for the three months ended September 30, 2019 were $62.6M, contrast to $53.1M for the same period of 2018. For the nine months ended September 30, 2019 and 2018, research and development expenses were $182.9M and $139.0M, respectively. The increase during the 2019 periods as contrast to 2018 was primarilyBecause of development costs associated with trofinetide and additional clinical study costs for pimavanserin.

Selling, General and Administrative
Selling, general and administrative expenses for the three months ended September 30, 2019 were $72.7M, contrast to $61.1M for the same period of 2018. For the nine months ended September 30, 2019 and 2018, selling, general and administrative expenses were $233.8M and $191.5M, respectively. This increase during the 2019 periods as contrast to 2018 was largely Because of increased charitable contributions as well as a raise in marketing expense related to our direct-to-consumer advertising campaign and personnel costs.

Net Loss
For the three months ended September 30, 2019, ACADIA stated a net loss of $42.0M, or $0.29 per ordinary share, contrast to a net loss of $62.1M, or $0.50 per ordinary share, for the same period in 2018. The net losses for the three months ended September 30, 2019 and 2018 included $22.0M and $20.2M, respectively, of non-cash stock-based compensation expense. For the nine months ended September 30, 2019, ACADIA stated a net loss of $182.2M, or $1.26 per ordinary share, contrast to a net loss of $179.7M, or $1.44 per ordinary share, for the same period in 2018. The net losses for the nine months ended September 30, 2019 and 2018 included $62.5M and $61.2M, respectively, of non-cash stock-based compensation expense.

Cash and Investments
At September 30, 2019, ACADIA’s cash, cash equivalents, and investment securities totaled $683.8M, contrast to $473.5M at December 31, 2018. The increase was primarilyBecause of net proceeds of $271.5M from ACADIA’s public offering of ordinary stock completed in September 2019 as well as additional cash proceeds from employee option exercises of $55.1M.

2019 Financial Guidance

  • 2019 NUPLAZID net sales guidance is increased to $330 to $340M from the previous range of $320 to $330M.
  • 2019 GAAP R&D guidance is reduced to $240 to $250M from the previous range of $250 to $265M.
  • 2019 GAAP SG&A guidance is increased to $315 to $325M from the previous range of $300 to $315M.
  • Non-cash stock-based compensation expense guidance of $80 to $90M is unchanged contrast to previous guidance.

ACAD has a gross margin of 93.80% and an operating margin of -85.70% while its profit margin remained -82.50% for the last 12 months. Its earnings per share (EPS) expected to touch remained -7.70% for this year while earning per share for the next 5-years is expected to reach at 26.50%.  The company has 148.93M of outstanding shares and 148.93M shares were floated in the market. According to the most recent quarter its current ratio was 11 that represents company’s ability to meet its current financial obligations. The price moved ahead of 10.05% from the mean of 20 days, 16.79% from mean of 50 days SMA and performed 58.36% from mean of 200 days price. Company’s performance for the week was 13.22%, 15.56% for month and YTD performance remained 187.01%.