ACADIA Pharmaceuticals (ACAD)
NASDAQ:ACAD
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ACADIA Pharmaceuticals
(NASDAQ:ACAD)
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Rating:71Outperform
Price Target:
$26.00
▲(17.12% Upside)
Action:UpgradedDate:03/05/26
The score is driven primarily by improved financial performance (profitability inflection and strong balance sheet) and constructive 2026 growth guidance from the earnings call, tempered by weak technical trend signals and cash-flow variability. Valuation is supportive with a modest P/E, while the corporate event is a minor positive.
Positive Factors
Strong cash position
A year-end cash balance of $820M provides durable financial runway to fund commercial launches, expanded field teams, and multiple R&D programs without near-term reliance on capital markets. This supports execution risk mitigation and strategic optionality over the next 2–6 months and beyond.
Negative Factors
Cash‑flow variability
Despite positive operating cash in 2024–2025, a sharp FCF decline in 2025 signals working‑capital swings or timing/non‑cash items that can strain near‑term liquidity management. Variable cash conversion complicates planning for sustained SG&A and R&D spend without eroding cash buffers.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash position
A year-end cash balance of $820M provides durable financial runway to fund commercial launches, expanded field teams, and multiple R&D programs without near-term reliance on capital markets. This supports execution risk mitigation and strategic optionality over the next 2–6 months and beyond.
Read all positive factors
ACADIA Pharmaceuticals (ACAD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.78B
Dividend YieldN/A
Average Volume (3M)2.03M
Price to Earnings (P/E)11.6
Beta (1Y)1.16
Revenue Growth12.69%
EPS Growth100.80%
CountryUS
Employees653
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)1.60
Shares Outstanding170,494,610
10 Day Avg. Volume1,884,917
30 Day Avg. Volume2,029,434
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 Cap0.97
Enterprise Value/Revenue3.42
Enterprise Value/Gross Profit3.72
Enterprise Value/Ebitda27.85
Forecast
1Y Price Target
$32.00Price Target Upside44.14% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)0.45
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 Pharmaceuticals generates revenue primarily through the sales of its flagship product, NUPLAZID, which is marketed in the United States and other markets where it has received regulatory approval. The company employs a direct-to-consumer an...
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:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call conveyed strong commercial momentum and clear growth drivers: record adjusted revenue (> $1 billion), double-digit growth for both NUPLAZID and DAYBUE, an approved new DAYBUE formulation (STIX) with early traction, meaningful pipeline catalysts (remlifanserin Phase II readout in Aug–Oct 2026 and multiple planned study initiations), and a solid cash position. Offsetting these positives were industry- and company-specific risks: a negative CHMP trend vote for trofinetide in the EU creating regulatory uncertainty, a nonrecurring $20M IRA-related net sales adjustment plus cash outflows from IRA invoices, and a notable step-up in SG&A that will pressure near-term margins. On balance, the highlights — notably strong top-line growth, product launches, pipeline catalysts, and healthy cash — outweigh the lowlights, which are largely regulatory and timing risks.Positive Updates
Record Annual Revenue Exceeding $1 Billion
Adjusted 2025 total revenues reached $1.08 billion, a 14% increase year-over-year; Q4 adjusted total revenues were $298 million, up 16% YoY — first time company annual revenues exceeded $1 billion.
Negative Updates
Negative CHMP Trend Vote for Trofinetide (DAYBUE) in EU
Following an oral explanation to CHMP, management was informed of a negative trend vote and expects a negative final opinion; company will request reexamination (~120 days), creating uncertainty and excluded EU commercial sales from 2026 guidance; EU represents <15% of the firm's 2028 DAYBUE projection but adds regulatory risk.
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Q4-2025 Updates
Positive
Negative
Record Annual Revenue Exceeding $1 Billion
Adjusted 2025 total revenues reached $1.08 billion, a 14% increase year-over-year; Q4 adjusted total revenues were $298 million, up 16% YoY — first time company annual revenues exceeded $1 billion.
Read all positive updates
Company Guidance
The company guided 2026 adjusted total revenues of $1.22–$1.28 billion, driven by NUPLAZID net sales of $760–$790 million (10–14% growth vs. 2025 adjusted; midpoint ~$775M, volume-driven) with a gross‑to‑net of 22–24%, and DAYBUE global net sales of $460–$490 million (18–25% growth vs. 2025; guidance excludes potential incremental EU approval sales but includes named‑patient programs) with a gross‑to‑net of 22–24%; 2026 expense guidance was R&D $385–$410 million and SG&A $660–$700 million, cash at year‑end 2025 was $820 million, and management reiterated 2028 targets of ~$1 billion for NUPLAZID and $700 million for DAYBUE (EU <15% of DAYBUE 2028 sales), noted a company CAGR to 2028 of ~16%, projected operating margins in the mid‑teens with no R&D attrition (low‑20s with typical attrition), and cited key 2025 comparators used to set guidance: adjusted 2025 revenue $1.08 billion (+14%), adjusted NUPLAZID FY $692M (+15%) and Q4 $189M (+17%, volume +13% Q4 / +9% FY), Q4 DAYBUE $110M (+13%, volume +12%), reported vs. adjusted NUPLAZID gross‑to‑net Q4 29.4%/23.6% and FY 25.9%/24.6%, DAYBUE gross‑to‑net Q4 19.5% and FY 22.3%, and a one‑time $20 million nonrecurring net‑sales reduction from an IRA accrual change.ACADIA Pharmaceuticals Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.07B | 957.80M | 726.44M | 517.24M | 484.14M |
| Gross Profit | 982.51M | 875.96M | 680.71M | 507.07M | 465.00M |
| EBITDA | 138.90M | 100.16M | -67.83M | -221.57M | -167.09M |
| Net Income | 391.00M | 226.45M | -61.29M | -215.97M | -167.87M |
Balance Sheet | |||||
| Total Assets | 1.56B | 1.19B | 748.96M | 587.81M | 700.12M |
| Cash, Cash Equivalents and Short-Term Investments | 819.69M | 755.99M | 438.87M | 416.82M | 520.71M |
| Total Debt | 52.19M | 51.99M | 57.20M | 62.00M | 64.43M |
| Total Liabilities | 336.81M | 454.96M | 317.20M | 187.40M | 159.23M |
| Stockholders Equity | 1.23B | 732.79M | 431.75M | 400.41M | 540.89M |
Cash Flow | |||||
| Free Cash Flow | 105.15M | 157.20M | -23.35M | -114.03M | -126.78M |
| Operating Cash Flow | 109.84M | 157.72M | 16.70M | -114.03M | -125.66M |
| Investing Cash Flow | -302.56M | -30.54M | 32.00M | 73.24M | -71.10M |
| Financing Cash Flow | 49.88M | 6.84M | 25.13M | 8.20M | 18.16M |
ACADIA Pharmaceuticals Technical Analysis
Neutral
22.20
Price Trends
23.13
Negative
24.49
Negative
23.73
Negative
Market Momentum
-0.36
Negative
51.02
Neutral
81.67
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACAD, the sentiment is Neutral. The current price of 22.2 is above the 20-day moving average (MA) of 21.46, below the 50-day MA of 23.13, and below the 200-day MA of 23.73, indicating a neutral trend. The MACD of -0.36 indicates Negative momentum. The RSI at 51.02 is Neutral, neither overbought nor oversold. The STOCH value of 81.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
81 Outperform | $7.63B | 34.71 | 18.69% | ― | 54.51% | 275.94% | |
71 Outperform | $3.78B | 11.57 | 41.90% | ― | 12.69% | 100.80% | |
67 Neutral | $5.61B | 8.85 | -362.44% | ― | 97.54% | ― | |
64 Neutral | $6.71B | -16.04 | -55.42% | ― | -76.96% | -425.41% | |
62 Neutral | $8.55B | 75.44 | 36.12% | ― | 23258.15% | 99.12% | |
54 Neutral | $1.25B | -3.74 | -67.12% | ― | ― | -157.74% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
ACAD
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ACADIA Pharmaceuticals Corporate Events
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 ...
Regulatory Filings and Compliance
ACADIA Pharmaceuticals Clarifies Form 8-K Disclosure Treatment
Neutral
Jan 13, 2026
In a recent regulatory filing, ACADIA Pharmaceuticals specified that certain information previously disclosed in Item 2.02 is being incorporated by reference into Item 7.01 of its Current Report on Form 8-K. The company also clarified that the inf...
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.