Acadia Healthcare (NASDAQ: ACHC) saw its stock soar 5.13% in pre-market trading on Tuesday, following the release of better-than-expected first-quarter financial results and positive analyst ratings. The behavioral healthcare services provider continues to demonstrate strong performance, attracting investor interest.
After the closing bell on Monday, Acadia Healthcare reported adjusted earnings of 40 cents per share for Q1, surpassing market estimates of 36 cents per share. The company's quarterly sales came in at $770.50 million, slightly above expectations of $769.84 million. This strong financial performance likely fueled the stock's upward movement.
Adding to the positive sentiment, multiple analysts have reaffirmed their bullish stance on Acadia Healthcare. Bank of America Securities analyst Joanna Gajuk reiterated a Buy rating on the stock, while TD Cowen analyst Ryan Langston maintained a Buy rating with a price target of $44.00. These endorsements from Wall Street analysts further support investor confidence in Acadia Healthcare's growth prospects and financial health, contributing to the stock's significant rise.
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