ACADIA Pharmaceuticals (ACAD)
NASDAQ:ACAD
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ACADIA Pharmaceuticals
(NASDAQ:ACAD)
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Rating:67Neutral
Price Target:
$24.50
▲(10.51% Upside)
Action:ReiteratedDate:05/09/26
The score is driven primarily by improved profitability and a strong, low-leverage balance sheet, supported by a generally positive earnings call with reaffirmed guidance and product momentum. The biggest constraint is valuation (very high P/E with no dividend support), while technicals are broadly neutral and corporate events are only a modest positive.
Positive Factors
Conservative balance sheet and cash runway
Low leverage and a sizable cash balance ($851M) provide durable financial flexibility to fund commercial expansion, trial readouts and potential M&A without urgent financing. This reduces dilution risk and supports multi-year execution of growth and pipeline milestones.
Negative Factors
Cash-flow variability
Although cash generation improved versus earlier loss years, recent sharp free cash flow decline and inconsistency between operating cash and reported earnings indicate working-capital or timing sensitivity. That variability can pressure funding for growth if prolonged.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet and cash runway
Low leverage and a sizable cash balance ($851M) provide durable financial flexibility to fund commercial expansion, trial readouts and potential M&A without urgent financing. This reduces dilution risk and supports multi-year execution of growth and pipeline milestones.
Read all positive factors
ACADIA Pharmaceuticals (ACAD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.84B
Dividend YieldN/A
Average Volume (3M)1.94M
Price to Earnings (P/E)260.9
Beta (1Y)1.09
Revenue Growth9.93%
EPS Growth61.40%
CountryUS
Employees653
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)2.23
Shares Outstanding171,235,870
10 Day Avg. Volume2,192,168
30 Day Avg. Volume1,937,533
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 Cap0.94
Enterprise Value/Revenue3.29
Enterprise Value/Gross Profit3.60
Enterprise Value/Ebitda34.47
Forecast
1Y Price Target
$32.77Price Target Upside47.81% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering15
EPS Forecast (FY)0.44
Revenue Forecast (FY)$1.25B
ACADIA Pharmaceuticals Business Overview & Revenue Model
Company Description
ACADIA Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for...
How the Company Makes Money
ACADIA makes money primarily by selling its branded prescription drug NUPLAZID (pimavanserin) in the United States. Revenue is generated from product sales to customers in the pharmaceutical distribution channel (e.g., wholesalers/specialty distri...
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.
Data provided by:
The Fly
The FlyACADIA Pharmaceuticals Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 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 | 104.56M | 138.90M | 100.16M | -67.83M | -221.57M | -167.09M |
| 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
22.17
Price Trends
22.35
Negative
24.35
Negative
23.72
Negative
Market Momentum
-0.13
Negative
51.34
Neutral
40.35
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 22.17 is above the 20-day moving average (MA) of 21.74, below the 50-day MA of 22.35, and below the 200-day MA of 23.72, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 51.34 is Neutral, neither overbought nor oversold. The STOCH value of 40.35 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 2 New Risks
1.
You should consider carefully the following information about the risks described below, together with the other information contained in this Quarterly Report and in our other public filings in evaluating our business. The risk factors set forth below that are marked with an asterisk (*) did not appear as separate risk factors in, or contain changes to the similarly titled risk factor included in, Item 1A of our Annual Report. If any of the following risks actually occurs, our business, financial condition, results of operations, and future growth prospects would likely be materially and adversely affected. In these circumstances, the market price of our common stock would likely decline. Q2, 2023
2.
We could face liability if a regulatory authority determines that we are promoting NUPLAZID or DAYBUE for any "off-label" uses.* Q2, 2023
ACADIA Pharmaceuticals Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $9.01B | 33.82 | 19.25% | ― | 25.15% | 79.56% | |
67 Neutral | $3.84B | 260.91 | 35.65% | ― | 9.93% | 61.40% | |
56 Neutral | $6.11B | -500.37 | 99.84% | ― | -53.34% | -130.87% | |
54 Neutral | $10.24B | -16.82 | 36.12% | ― | 14.09% | -58.14% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $1.24B | -3.40 | -67.12% | ― | ― | -86.55% |
* Healthcare Sector Average
ACAD
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ACADIA Pharmaceuticals Corporate Events
Business Operations and StrategyExecutive/Board Changes
Acadia Announces Planned Retirement of Head of R&D
Neutral
May 1, 2026
On April 30, 2026, Acadia Pharmaceuticals Inc. announced that Elizabeth H.Z. Thompson, Ph.D., Head of Research and Development, plans to retire at year-end for personal reasons, after joining the company in 2024. She will stay in her role until a ...
Executive/Board Changes
Acadia Pharmaceuticals Appoints Jonathan Poole to Board, Audit Committee
Positive
Mar 5, 2026
On March 3, 2026, Acadia Pharmaceuticals’ board appointed Jonathan M. Poole as a Class II director to fill a vacancy and as a member of the Audit Committee, with his initial term running through the 2027 annual shareholder meeting. The move ...
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.