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ACADIA Pharmaceuticals
(NASDAQ:ACAD)
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Rating:72Outperform
Price Target:
$29.00
▲(16.75% Upside)
Action:Upgraded
Date:05/30/26
The score is driven primarily by improved profitability and a strong, low-debt balance sheet, reinforced by reaffirmed guidance and positive commercial/pipeline momentum. This is tempered by a neutral-to-weak technical backdrop and cash-flow/expense-related execution risks (lower operating cash flow coverage and higher SG&A).
Positive Factors
Low leverage and sizable cash runway
ACADIA’s very low leverage together with $851M cash provides durable financial flexibility to fund commercial expansion, upcoming Phase II/III readouts, and R&D without near-term refinancing risk. This supports multi-quarter execution on sales force buildout and trial timelines.
Negative Factors
High gross‑to‑net discounts reduce realizable revenue
Large gross‑to‑net deductions materially lower net product revenue and compress cash conversion of sales. Persistently elevated adjustments would reduce sustainable revenue per prescription and require higher volumes to maintain margins, increasing dependency on commercial scale and payer negotiations.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and sizable cash runway
ACADIA’s very low leverage together with $851M cash provides durable financial flexibility to fund commercial expansion, upcoming Phase II/III readouts, and R&D without near-term refinancing risk. This supports multi-quarter execution on sales force buildout and trial timelines.
Read all positive factors
ACADIA Pharmaceuticals Key Performance Indicators (KPIs)
Any
Revenue by Product
Shows earnings from individual products, highlighting which offerings drive growth and which may need strategic adjustments. This helps assess product portfolio strength and market positioning.
Shows earnings from individual products, highlighting which offerings drive growth and which may need strategic adjustments. This helps assess product portfolio strength and market positioning.
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The Fly
The FlyACADIA Pharmaceuticals (ACAD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.43B
Dividend YieldN/A
Average Volume (3M)1.66M
Price to Earnings (P/E)11.6
Beta (1Y)1.10
Revenue Growth9.93%
EPS Growth61.40%
CountryUS
Employees798
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)2.23
Shares Outstanding171,235,870
10 Day Avg. Volume1,376,337
30 Day Avg. Volume1,655,085
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)3.69
Price to Sales (P/S)4.22
P/FCF Ratio43.02
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$33.21Price Target Upside33.71% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)0.39
Revenue Forecast (FY)$1.24B
ACADIA Pharmaceuticals Business Overview & Revenue Model
Company Description
ACADIA Pharmaceuticals Inc. operates as a biopharmaceutical company, primarily dedicated to discovering, developing, and commercializing small molecule therapeutics. Their core focus lies in addressing critical unmet medical needs within the realm...
How the Company Makes Money
ACADIA makes money primarily through product sales of NUPLAZID (pimavanserin). Revenue is generated by selling the drug into the U.S. pharmaceutical distribution channel (e.g., wholesalers/specialty pharmacies) and ultimately to patients via presc...
ACADIA Pharmaceuticals Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive commercial and pipeline picture: solid Q1 revenue growth (+11% adjusted), robust DAYBUE momentum (+20% YoY) and encouraging early uptake of the DAYBUE STIX formulation, continued demand and referral gains for NUPLAZID, a strong cash position ($851M) and major near‑term clinical catalysts (remlifanserin Phase II readout and trofinetide Japan Phase III). Headwinds include a temporary refill timing disruption that impacted Q1 NUPLAZID revenue timing, a sizable near‑term increase in SG&A (+35.3% YoY) to fund commercial expansion, ongoing regulatory uncertainty in Europe for trofinetide, and an R&D leadership transition. On balance, the positives (top‑line growth, product launches, reaffirmed guidance, pipeline catalysts and healthy cash) outweigh the challenges, which management describes largely as temporary or strategic investments.Positive Updates
Solid Top-Line Revenue Growth
Total revenue of $268 million in Q1 2026, representing +11% year-over-year on an adjusted basis.
Negative Updates
Q1 NUPLAZID Refill Timing Disruption
A temporary increase in patients taking longer to refill prescriptions in January and early February negatively impacted Q1 NUPLAZID revenue timing; management indicates patients returned later in the quarter but notes late refills equate to lost revenue in the period (not lost patients).
Read all updates
Q1-2026 Updates
Positive
Negative
Solid Top-Line Revenue Growth
Total revenue of $268 million in Q1 2026, representing +11% year-over-year on an adjusted basis.
Read all positive updates
Company Guidance
ACADIA reaffirmed full‑year 2026 net sales and expense guidance, including total revenue guidance of $1.22–$1.28 billion, and said 2026 results will be back‑end loaded with greater contribution in H2 driven by the expanded NUPLAZID field force (30% expansion) and broader availability/adoption of DAYBUE STIX; Q1 results were $268M total revenue (+11% adj), DAYBUE $101M (+20% YoY) and NUPLAZID $167M (+6% YoY), with NUPLAZID demand +8% and physician referrals ~11%, gross‑to‑net adjustments of 22.1% (NUPLAZID) and 25.8% (DAYBUE), cash of $851M (vs. $820M), Q1 R&D $76.9M and SG&A $171M, while management reiterated near‑term catalysts and timelines (remlifanserin Phase II readout Aug–Oct 2026; trofinetide Japan Phase III readout Sep–Nov 2026), longer‑term goals of ~$1B NUPLAZID sales by 2028 and ~$700M for DAYBUE by 2028, a combined pipeline peak sales opportunity of $11B (≈$4B for remlifanserin), and plans to initiate 5 additional Phase II/III studies and report 4 Phase II/III readouts by end‑2027.ACADIA Pharmaceuticals Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.10B | 1.07B | 957.80M | 726.44M | 517.24M | 484.14M |
| Gross Profit | 1.00B | 982.51M | 875.96M | 680.71M | 507.07M | 465.00M |
| EBITDA | 126.91M | 150.66M | 100.16M | -45.48M | -211.42M | -164.18M |
| Net Income | 375.65M | 391.00M | 226.45M | -61.29M | -215.97M | -167.87M |
Balance Sheet | ||||||
| Total Assets | 1.61B | 1.56B | 1.19B | 748.96M | 587.81M | 700.12M |
| Cash, Cash Equivalents and Short-Term Investments | 851.46M | 819.69M | 755.99M | 438.87M | 416.82M | 520.71M |
| Total Debt | 50.79M | 52.19M | 51.99M | 57.20M | 62.00M | 64.43M |
| Total Liabilities | 357.16M | 336.81M | 454.96M | 317.20M | 187.40M | 159.23M |
| Stockholders Equity | 1.25B | 1.23B | 732.79M | 431.75M | 400.41M | 540.89M |
Cash Flow | ||||||
| Free Cash Flow | 212.43M | 105.15M | 157.20M | -23.35M | -114.03M | -126.78M |
| Operating Cash Flow | 123.49M | 109.84M | 157.72M | 16.70M | -114.03M | -125.66M |
| Investing Cash Flow | -112.23M | -302.56M | -30.54M | 32.00M | 73.24M | -71.10M |
| Financing Cash Flow | 52.28M | 49.88M | 6.84M | 25.13M | 8.20M | 18.16M |
ACADIA Pharmaceuticals Technical Analysis
Positive
24.84
Price Trends
23.84
Positive
22.78
Positive
23.69
Positive
Market Momentum
0.60
Positive
66.27
Neutral
75.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACAD, the sentiment is Positive. The current price of 24.84 is below the 20-day moving average (MA) of 25.74, above the 50-day MA of 23.84, and above the 200-day MA of 23.69, indicating a bullish trend. The MACD of 0.60 indicates Positive momentum. The RSI at 66.27 is Neutral, neither overbought nor oversold. The STOCH value of 75.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ACAD.
ACADIA Pharmaceuticals Risk Analysis
ACADIA Pharmaceuticals disclosed 55 risk factors in its most recent earnings report. ACADIA Pharmaceuticals reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
ACADIA Pharmaceuticals Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $10.06B | 44.02 | 19.25% | ― | 25.15% | 79.56% | |
72 Outperform | $4.43B | 11.60 | 35.65% | ― | 9.93% | 61.40% | |
54 Neutral | $1.55B | -4.75 | -85.61% | ― | ― | -68.11% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $11.92B | -39.56 | -55.45% | ― | 14.09% | -58.14% | |
51 Neutral | $5.68B | -137.67 | 21.72% | ― | -42.84% | -106.21% |
* Healthcare Sector Average
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ACADIA Pharmaceuticals Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Acadia Shareholders Approve Directors, Executive Pay and Equity Plan
Positive
May 29, 2026
Acadia Pharmaceuticals Inc. held its 2026 Annual Meeting of Stockholders on May 29, 2026, where shareholders elected three Class I directors, James M. Daly, Edmund P. Harrigan, M.D., and Adora Ndu, Pharm.D., J.D., to serve until the 2029 annual me...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.