SAN DIEGO (AP) — SAN DIEGO (AP) — Acadia Pharmaceuticals Inc. (ACAD) on Tuesday reported fourth-quarter net income of $45.8 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Diego-based company said it had net income of 28 cents.

The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The drugmaker posted revenue of $231 million in the period, which beat Street forecasts. Nine analysts surveyed by Zacks expected $223.1 million.

For the year, the company reported that its loss narrowed to $61.3 million, or 37 cents per share. Revenue was reported as $726.4 million.

Acadia shares have declined 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.36, a climb of 36% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACAD at https://www.zacks.com/ap/ACAD

For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News