Tearsheet

ACADIA Pharmaceuticals (ACAD)

Market Price (12/23/2025): $28.06 | Market Cap: $4.7 Bil
Sector: Health Care | Industry: Pharmaceuticals

ACADIA Pharmaceuticals (ACAD)

Market Price (12/23/2025): $28.06
Market Cap: $4.7 Bil
Sector: Health Care
Industry: Pharmaceuticals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%	Trading close to highs Dist 52W High is 0.0%	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 50x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 24x
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17%	Weak multi-year price returns 2Y Excs Rtn is -48%	Key risks ACAD key risks include [1] its heavy financial dependence on its two commercialized products, Show more.
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%
3	Low stock price volatility Vol 12M is 49%
4	Megatrend and thematic drivers Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%
3	Low stock price volatility Vol 12M is 49%
4	Megatrend and thematic drivers Megatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies.
5	Trading close to highs Dist 52W High is 0.0%
6	Weak multi-year price returns 2Y Excs Rtn is -48%
7	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 50x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 24x
8	Key risks ACAD key risks include [1] its heavy financial dependence on its two commercialized products, Show more.

Valuation, Metrics & Events

	12/23/25	2024	2023	2022	2021
Share Price CYE	$28.06	$18.35	$31.31	$15.92	$23.34
Market Cap CYE ($ Bil)	4.7	3.1	5.2	2.6	3.8
Total Debt ($ Bil)	0.1	0.1	0.1	0.1	0.1
Total Cash ($ Bil)	0.8	0.8	0.4	0.4	0.5
Enterprise Value ($ Bil)	3.9	3.2	5.3	2.7	3.9
Valuation Ratios
P/S TTM	4.5	3.2	7.1	5.0	7.7
P/EBIT TTM	50.2	36.1	-69.9	-11.5	-22.0
P/E TTM	18.1	13.4	-83.7	-11.9	-22.3
P/FCF TTM	47.9	19.3	-219.7	-22.6	-29.5
Sector Ratios
P/S TTM (Sector)	4.2	3.5	3.9	4.5	7.1
P/EBIT TTM (Sector)	-1.5	-1.3	-1.4	-1.3	-2.7
P/E TTM (Sector)	-1.7	-1.5	-1.5	-1.3	-2.8
P/FCF TTM (Sector)	-1.5	-1.4	-1.4	-1.5	-3.2

	12/23/25	2024	2023
Share Price CYE	$28.06	$18.35	$31.31
Market Cap CYE ($ Bil)	4.7	3.1	5.2
Total Debt ($ Bil)	0.1	0.1	0.1
Total Cash ($ Bil)	0.8	0.8	0.4
Enterprise Value ($ Bil)	3.9	3.2	5.3
Valuation Ratios
P/S TTM	4.5	3.2	7.1
P/EBIT TTM	50.2	36.1	-69.9
P/E TTM	18.1	13.4	-83.7
P/FCF TTM	47.9	19.3	-219.7
Sector Ratios
P/S TTM (Sector)	4.2	3.5	3.9
P/EBIT TTM (Sector)	-1.5	-1.3	-1.4
P/E TTM (Sector)	-1.7	-1.5	-1.5
P/FCF TTM (Sector)	-1.5	-1.4	-1.4

	ACAD	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	1.0
Rev Chg Q	11.3%	7.3%
Rev Chg LTM	12.7%	6.0%
Rev Chg 3Y Avg	27.8%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.3
Op Mgn LTM	9.0%	18.8%
CFO/Rev LTM	19.0%	20.4%
Net Inc Mgn	24.9%	13.1%
VALUATION	HIGH
P/S	4.5	3.2
P/CFO	23.8	15.5
P/FCF	47.9	20.7
P/E	18.1	23.5
STABILITY	VERY GOOD
Debt/Equity	0.01	0.21
Cash/Assets	0.64	0.07

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Metric	Value	Date	Source
DAYBUE Unique Patients Globally	over 1,000	9302025	Link
DAYBUE New Prescriptions from Community-Based Physicians	74%	9302025	Link
NUPLAZID New Prescription Volume Growth (Year-over-Year)	23%	9302025	Link
DAYBUE Patient Persistency Rate at 12 Months	above 50%	11062025	Link
DAYBUE Patient Persistency Rate at 18 Months	greater than 45%	11062025	Link
Number of Pipeline Programs	9	8062025	Link
Phase 2 or 3 Studies Initiated (2025-2026)	7	8062025	Link

Upcoming
2/25/2026	Earnings Release	Rev: - EPS: -

ACAD Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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The ACADIA Pharmaceuticals (ACAD) stock experienced notable movements and received significant attention from late August 2025 to December 23, 2025. Here are key points that could explain an approximate 8% stock movement during this period:

**1. FDA Approval of DAYBUE STIX.** On December 12, 2025, Acadia Pharmaceuticals announced that the U.S. Food and Drug Administration (FDA) approved DAYBUE STIX (trofinetide) for oral solution, a new powder formulation for the treatment of Rett syndrome. This new formulation offers increased flexibility for patients and caregivers, providing an alternative to the existing oral solution. This approval was seen as a significant upgrade by analysts, with H.C. Wainwright raising its price target for ACAD to $37.00.

**2. Strong Third Quarter 2025 Financial Results.** On November 5, 2025, Acadia Pharmaceuticals reported strong third-quarter 2025 financial results, with total revenue reaching $278.6 million. The company's GAAP EPS was $0.42, significantly beating estimates of $0.14. NUPLAZID net sales were up 12% to $177.5 million, and DAYBUE sales reached $101.1 million, driven by expanding patient numbers and new prescriptions. The company also raised its full-year 2025 revenue guidance to between $1.07 billion and $1.095 billion.

**3. Positive Analyst Sentiment and Price Target Increases.** Several analysts issued positive commentary and raised price targets for ACADIA Pharmaceuticals in late 2025. For example, Piper Sandler set a $37.00 price target on December 16, and Needham & Company LLC raised its price target from $28.00 to $29.00 with a "buy" rating on November 6. Stifel Nicolaus also set a $37.00 target price on December 16. The consensus analyst rating for ACADIA Pharmaceuticals was a "Moderate Buy" with an average price target of $29.95 as of December 18, 2025.

**4. Achievement of New 52-Week Highs.** ACADIA Pharmaceuticals' stock reached a new 52-week high of $27.96 on December 22, 2025, and previously hit $27.73. The stock had seen a remarkable 61% increase over the past year, reflecting strong investor confidence and positive company developments. This upward momentum suggests sustained investor interest.

**5. Pipeline Advancements and Future Growth Prospects.** Despite a setback with the Phase 3 COMPASS PWS trial for ACP-101 in Prader-Willi syndrome not meeting its primary endpoint on September 24, 2025, Acadia Pharmaceuticals highlighted a robust pipeline. The company plans to initiate seven Phase 2 or Phase 3 studies during 2025-2026 and anticipates four data readouts by the end of 2027. Key pipeline programs include a Phase 2 study of ACP-204 in Lewy Body Dementia Psychosis and a Phase 3 study for trofinetide in Rett syndrome in Japan. These advancements, along with the expectation of exceeding $1 billion in net sales for 2025, contribute to a positive long-term outlook. Show more The ACADIA Pharmaceuticals (ACAD) stock experienced notable movements and received significant attention from late August 2025 to December 23, 2025. Here are key points that could explain an approximate 8% stock movement during this period:

**1. FDA Approval of DAYBUE STIX.** On December 12, 2025, Acadia Pharmaceuticals announced that the U.S. Food and Drug Administration (FDA) approved DAYBUE STIX (trofinetide) for oral solution, a new powder formulation for the treatment of Rett syndrome. This new formulation offers increased flexibility for patients and caregivers, providing an alternative to the existing oral solution. This approval was seen as a significant upgrade by analysts, with H.C. Wainwright raising its price target for ACAD to $37.00.

**2. Strong Third Quarter 2025 Financial Results.** On November 5, 2025, Acadia Pharmaceuticals reported strong third-quarter 2025 financial results, with total revenue reaching $278.6 million. The company's GAAP EPS was $0.42, significantly beating estimates of $0.14. NUPLAZID net sales were up 12% to $177.5 million, and DAYBUE sales reached $101.1 million, driven by expanding patient numbers and new prescriptions. The company also raised its full-year 2025 revenue guidance to between $1.07 billion and $1.095 billion.

**3. Positive Analyst Sentiment and Price Target Increases.** Several analysts issued positive commentary and raised price targets for ACADIA Pharmaceuticals in late 2025. For example, Piper Sandler set a $37.00 price target on December 16, and Needham & Company LLC raised its price target from $28.00 to $29.00 with a "buy" rating on November 6. Stifel Nicolaus also set a $37.00 target price on December 16. The consensus analyst rating for ACADIA Pharmaceuticals was a "Moderate Buy" with an average price target of $29.95 as of December 18, 2025.

**4. Achievement of New 52-Week Highs.** ACADIA Pharmaceuticals' stock reached a new 52-week high of $27.96 on December 22, 2025, and previously hit $27.73. The stock had seen a remarkable 61% increase over the past year, reflecting strong investor confidence and positive company developments. This upward momentum suggests sustained investor interest.

**5. Pipeline Advancements and Future Growth Prospects.** Despite a setback with the Phase 3 COMPASS PWS trial for ACP-101 in Prader-Willi syndrome not meeting its primary endpoint on September 24, 2025, Acadia Pharmaceuticals highlighted a robust pipeline. The company plans to initiate seven Phase 2 or Phase 3 studies during 2025-2026 and anticipates four data readouts by the end of 2027. Key pipeline programs include a Phase 2 study of ACP-204 in Lewy Body Dementia Psychosis and a Phase 3 study for trofinetide in Rett syndrome in Japan. These advancements, along with the expectation of exceeding $1 billion in net sales for 2025, contribute to a positive long-term outlook. Show less

Stock Movement Drivers

Fundamental Drivers

The 14.4% change in ACAD stock from 9/22/2025 to 12/22/2025 was primarily driven by a 14.4% change in the company's Net Income Margin (%).

	9222025	12222025	Change
Stock Price ($)	24.53	28.06	14.39%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1018.89	1047.12	2.77%
Net Income Margin (%)	21.80%	24.94%	14.39%
P/E Multiple	18.53	18.14	-2.11%
Shares Outstanding (Mil)	167.83	168.84	-0.60%
Cumulative Contribution			14.39%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025

	Return	Correlation
ACAD	14.4%
Market (SPY)	2.7%	36.1%
Sector (XLV)	13.7%	27.9%

Fundamental Drivers

The 24.8% change in ACAD stock from 6/23/2025 to 12/22/2025 was primarily driven by a 10.7% change in the company's P/E Multiple.

	6232025	12222025	Change
Stock Price ($)	22.48	28.06	24.82%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	996.28	1047.12	5.10%
Net Income Margin (%)	22.97%	24.94%	8.57%
P/E Multiple	16.38	18.14	10.72%
Shares Outstanding (Mil)	166.81	168.84	-1.22%
Cumulative Contribution			24.80%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025

	Return	Correlation
ACAD	24.8%
Market (SPY)	14.4%	35.3%
Sector (XLV)	18.0%	26.3%

Fundamental Drivers

The 66.3% change in ACAD stock from 12/22/2024 to 12/22/2025 was primarily driven by a 80.4% change in the company's Net Income Margin (%).

	12222024	12222025	Change
Stock Price ($)	16.87	28.06	66.33%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	929.24	1047.12	12.69%
Net Income Margin (%)	13.83%	24.94%	80.36%
P/E Multiple	21.79	18.14	-16.75%
Shares Outstanding (Mil)	165.97	168.84	-1.72%
Cumulative Contribution			66.28%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025

	Return	Correlation
ACAD	66.3%
Market (SPY)	16.9%	34.7%
Sector (XLV)	14.5%	31.6%

Fundamental Drivers

The 81.4% change in ACAD stock from 12/23/2022 to 12/22/2025 was primarily driven by a 104.7% change in the company's Total Revenues ($ Mil).

	12232022	12222025	Change
Stock Price ($)	15.47	28.06	81.38%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	511.50	1047.12	104.71%
P/S Multiple	4.90	4.52	-7.57%
Shares Outstanding (Mil)	161.85	168.84	-4.32%
Cumulative Contribution			81.05%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025

	Return	Correlation
ACAD	-10.6%
Market (SPY)	47.7%	29.6%
Sector (XLV)	18.4%	30.8%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
ACAD Return	25%	-56%	-32%	97%	-41%	48%	-37%
Peers Return	141%	-42%	28%	-24%	-21%	-0%	8%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	113%
Monthly Win Rates [3]
ACAD Win Rate	50%	50%	33%	67%	33%	67%
Peers Win Rate	52%	46%	58%	44%	46%	50%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
ACAD Max Drawdown	-26%	-70%	-44%	0%	-54%	-23%
Peers Max Drawdown	-31%	-50%	-42%	-45%	-38%	-41%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: NBIX, AXSM, DNLI, BTAI. See ACAD Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique Key	Event	ACAD	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-76.3%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	322.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-36.1%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	56.5%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	Not Fully Recovered days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-67.3%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	205.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	389 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-95.4%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	2080.5%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1,558 days	1,480 days

Compare to ARWR, ACT, ALKS, OGN, LLY

In The Past

ACADIA Pharmaceuticals's stock fell -76.3% during the 2022 Inflation Shock from a high on 1/7/2021. A -76.3% loss requires a 322.7% gain to breakeven.

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About ACADIA Pharmaceuticals (ACAD)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

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 the treatment of hallucinations and delusions associated with Parkinson's disease psychosis. It's pipeline include, pimavanserin, under phase 3 development for the treatment of Alzheimer's disease psychosis, and negative symptoms of schizophrenia; Trofinetide, a novel synthetic analog, under phase 3 development for the treatment of Rett syndrome; ACP-044, a novel first-in-class orally administered non-opioid analgesic, under phase 2 development for treating acute and chronic pain; and ACP-319, a positive allosteric modulator of the muscarinic receptor, under phase 1 development for treating schizophrenia and cognition in Alzheimer's. ACADIA Pharmaceuticals Inc. was founded in 1993 and is headquartered in San Diego, California.

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Here are 1-2 brief analogies to describe ACADIA Pharmaceuticals:

Like a smaller Biogen, but concentrated on developing medicines specifically for central nervous system (CNS) disorders, such as Parkinson's disease psychosis.
Think of it as a Vertex Pharmaceuticals for brain disorders; a specialized company focused on developing and commercializing innovative treatments for central nervous system conditions.

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Here are ACADIA Pharmaceuticals' major products:

NUPLAZID (pimavanserin): A medication approved for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.
DAYBUE (trofinetide): A medication approved for the treatment of Rett syndrome in adults and pediatric patients two years of age and older.

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ACADIA Pharmaceuticals (NASDAQ: ACAD) primarily sells its products to other companies, specifically pharmaceutical wholesalers and specialty distributors.

These companies act as crucial intermediaries in the healthcare supply chain. They purchase medications directly from manufacturers like ACADIA and then distribute them to a wide network of downstream customers, including retail pharmacies, mail-order pharmacies, specialty pharmacies, hospitals, and other healthcare providers. These entities then dispense or administer the medications to individual patients.

While ACADIA's financial filings describe its distribution as through a "limited number of specialty distributors and pharmacies," the major pharmaceutical wholesalers in the United States are almost certainly among their largest direct customers due to their dominant role in the national drug supply chain. These include:

McKesson Corporation (NYSE: MCK)
AmerisourceBergen Corporation (NYSE: ABC)
Cardinal Health, Inc. (NYSE: CAH)

In addition to these major wholesalers, ACADIA also directly engages with specialized pharmacies that are equipped to handle and dispense complex or specialty medications, particularly those for central nervous system disorders that may require specific patient support or distribution channels.

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Thermo Fisher Scientific Inc. (TMO)

WuXi AppTec Co., Ltd. (2359.HK)

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Catherine Owen Adams, Chief Executive Officer

Catherine Owen Adams joined ACADIA Pharmaceuticals as Chief Executive Officer and a member of its Board of Directors in September 2024. She brings over 25 years of executive-level experience in the pharmaceutical industry. Prior to ACADIA, Ms. Owen Adams served as Senior Vice President and General Manager, U.S., at Bristol Myers Squibb (BMS), where she oversaw a $20 billion commercial business across Oncology, Cardiovascular, and Immunology. She also held the position of Senior Vice President, Head of Major Markets at BMS, leading commercial operations in 19 countries across Europe, Japan, and Canada during the company's merger with Celgene. Before her tenure at BMS, Ms. Owen Adams spent 25 years at Johnson & Johnson (J&J), holding various global, U.S., and European leadership roles, including President, Janssen Immunology U.S. She began her career in R&D and manufacturing at AstraZeneca. Ms. Owen Adams currently serves on the board of directors of Agios Pharmaceuticals, Inc., a publicly held company, and AssistRx, a privately held company.

Mark Schneyer, Chief Financial Officer

Mark Schneyer has served as ACADIA Pharmaceuticals' Chief Financial Officer and Executive Vice President since 2021. He joined ACADIA in May 2020 as Senior Vice President, Business Development and Chief Business Officer. Before joining ACADIA, Mr. Schneyer was Vice President, Business Development, for the Upjohn division at Pfizer Inc. During his time at Pfizer, which he joined in 2011, he led numerous strategic transactions, including licensing agreements, product acquisitions and divestitures, strategic collaborations, and company acquisitions. Prior to Pfizer, Mr. Schneyer worked as an investment banker at Lazard, providing advisory services to boards of directors and senior management teams in the healthcare sector.

Thomas Garner, Chief Commercial Officer

Thomas Garner is the Chief Commercial Officer at ACADIA Pharmaceuticals.

Elizabeth H.Z. Thompson, Ph.D., Head of Research and Development

Elizabeth H.Z. Thompson, Ph.D., is the Head of Research and Development at ACADIA Pharmaceuticals.

Ponni Subbiah, MD, MPH, Senior Vice President, Global Head of Medical Affairs and Chief Medical Officer

Ponni Subbiah, MD, MPH, has been ACADIA Pharmaceuticals' Senior Vice President, Global Head of Medical Affairs and Chief Medical Officer since October 2019. A neurologist by training, she has over 20 years of experience in the pharmaceutical industry and global health sector. Before joining ACADIA, Dr. Subbiah was Chief Medical Officer for Indivior Inc., where she was responsible for pharmacovigilance and global medical affairs. She also spent over 15 years at Pfizer, Inc., holding various leadership roles in global medical affairs and leading Pfizer's Global Access program.

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Key Business Risks for ACADIA Pharmaceuticals (ACAD)

High Dependence on Commercialized Products (NUPLAZID and DAYBUE): ACADIA Pharmaceuticals' financial performance is significantly reliant on the continued successful commercialization and market acceptance of its two primary products, NUPLAZID and DAYBUE. Any adverse regulatory decisions, unexpected market shifts, or intensified competitive pressures related to these flagship products could disproportionately impact the company's financial stability and market position.
Risks Associated with Clinical Development and Regulatory Approvals: The future growth of ACADIA Pharmaceuticals hinges on its ability to successfully develop and obtain regulatory approvals for its pipeline product candidates. The biopharmaceutical industry is characterized by inherent uncertainties, substantial costs, and potential for failures in clinical trials, as demonstrated by the discontinuation of the ACP-101 program for Prader-Willi syndrome and previous setbacks with pimavanserin in schizophrenia trials. Regulatory hurdles, delays, or outright rejections of product candidates also pose significant risks to the company's long-term prospects.
Intense Competition within the Biopharmaceutical Sector: ACADIA operates in a highly competitive market for central nervous system (CNS) disorders and rare diseases. The presence of numerous established pharmaceutical companies, emerging biotechs, and the continuous development of new and alternative therapies create a challenging environment. This competition can lead to pricing pressures, potential erosion of market share, and a need for constant innovation and effective marketing to maintain its competitive edge.

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ACADIA Pharmaceuticals has two main commercial products: NUPLAZID (pimavanserin) and DAYBUE (trofinetide).

NUPLAZID (pimavanserin)

Indication: Hallucinations and delusions associated with Parkinson's disease psychosis (PDP).
Market Size (Global): The global Pimavanserin market is valued at approximately $1.2 billion in 2024 and is projected to grow to around $3.5 billion by 2034, with a Compound Annual Growth Rate (CAGR) of approximately 12% from 2025 to 2034. Another estimate projects the global market to reach US$2187.8 million (approximately $2.19 billion) in 2029, growing from US$1504 million ($1.5 billion) in 2022, with a CAGR of 5.5% from 2023 to 2029.
Market Size (7 Major Markets - 7MM): The market for Parkinson's disease psychosis across the 7 major markets (which include the U.S., France, Germany, Italy, Spain, UK, and Japan) reached USD 526.1 million in 2024 and is projected to reach USD 694.3 million by 2035, growing at a CAGR of 2.59% during 2025-2035.
U.S. Sales Guidance (ACADIA): Nuplazid net product sales are expected to be in the range of $685-$695 million in 2025 for the U.S.

DAYBUE (trofinetide)

Indication: Rett syndrome.
Market Size (Global): The global Rett Syndrome market was valued at USD 0.33 billion in 2024 and is projected to reach USD 1.37 billion by 2035, growing at a CAGR of 13.80% from 2025 to 2035.
Addressable Patient Population (Europe, UK, Japan): The total addressable patient population for Daybue in these regions is estimated to be between 11,000 and 17,000.
U.S. Sales Guidance (ACADIA): Daybue U.S. net sales are forecast to be between $385 million and $400 million for 2025. There are approximately 5,000 diagnosed Rett syndrome patients in the U.S., with potential for growth as 70% of the 5,500 to 5,800 diagnosed Rett patients had yet to try DAYBUE as of February 2025.

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Here are the 3-5 expected drivers of future revenue growth for ACADIA Pharmaceuticals (ACAD) over the next 2-3 years:

Continued Growth and Expanded Market Penetration for NUPLAZID: ACADIA Pharmaceuticals is projecting sustained revenue growth for NUPLAZID (pimavanserin), its treatment for hallucinations and delusions associated with Parkinson's disease psychosis. The company reported record net sales for NUPLAZID in Q3 2025, driven by an acceleration in new prescriptions and a 9% volume growth. Strategic investments, including a meaningful expansion of its field force, are expected to further increase market penetration and drive higher growth in the coming years. Price increases have also contributed to Nuplazid's revenue growth.
Increasing Adoption and International Expansion of DAYBUE: DAYBUE (trofinetide) for Rett syndrome is expected to be a significant revenue driver. The company achieved its highest number of DAYBUE bottles ever shipped in Q3 2025, reflecting growing patient adoption and the positive impact of an expanded field force. Beyond the U.S., international market expansion is underway, with DAYBUE having recently received marketing authorization in Canada in October 2024. Additionally, ACADIA submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) for trofinetide, with expected approval in Q1 2026 and anticipated Managed Access Program-related sales in Europe as early as Q2 2025.
Advancement of Pipeline Candidates, Particularly ACP-204: ACADIA's robust pipeline, especially the progression of ACP-204, is poised to contribute to future revenue growth. ACP-204 is an investigational candidate in Phase II clinical trials for both Alzheimer's disease psychosis and Lewy body dementia psychosis. Analysts view ACP-204 as a critical growth driver, citing its differentiated safety profile and favorable regulatory positioning. The company anticipates several Phase 2 or Phase 3 study readouts for its pipeline programs between 2025 and 2027, which could unlock significant incremental revenue opportunities.

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Share Repurchases

ACADIA Pharmaceuticals has not conducted any share repurchase programs over the last 3-5 years.

Share Issuance

Common stock has been issued primarily through the exercise of stock options and units. For instance, in the three months ended March 31, 2023, issuances from these activities totaled approximately $1.466 million.

Inbound Investments

ACADIA Pharmaceuticals has maintained a balance sheet with no long-term debt over the past five years.
No significant inbound investments by third-parties, such as strategic partners or private equity firms, have been reported within the last 3-5 years.

Outbound Investments

In September 2020, ACADIA Pharmaceuticals acquired CerSci Therapeutics, a clinical-stage biotechnology company.
ACADIA Pharmaceuticals acquired Levo Therapeutics in June 2022, which brought ACP-101, a compound for the treatment of hyperphagia in Prader-Willi syndrome, into its pipeline.

Capital Expenditures

Capital expenditures were approximately $7.59 million in 2020, $1.12 million in 2021, $0.00 in 2022, $40.05 million in 2023, and $0.523 million in 2024.
These expenditures are primarily focused on supporting ongoing operations, including administering clinical trials, marketing products, and investing in technology and facility infrastructure.
The company's strategy involves outsourcing manufacturing activities to direct financial resources toward commercial activities and product development, rather than capital-intensive manufacturing facilities.

Better Bets than ACADIA Pharmaceuticals (ACAD)

INDUSTRY: Pharmaceuticals

Higher Rev Chg 3Y Avg | Lower P/S (Values for ACAD: 27.8% | 4.5x)

ANIP (43.7% | 2.0x)

ANI Pharmaceuticals

BCRX (36.2% | 2.7x)

BioCryst Pharmaceuticals

COLL (29.0% | 2.0x)

Collegium Pharmaceutical

ESPR (77.6% | 2.7x)

Esperion Therapeutics

SIGA (104.9% | 2.6x)

SIGA Technologies

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ACAD: 27.8% | 50.2x)

ANIP (43.7% | 30.3x)

ANI Pharmaceuticals

BCRX (36.2% | 21.0x)

BioCryst Pharmaceuticals

COLL (29.0% | 10.1x)

Collegium Pharmaceutical

SIGA (104.9% | 5.0x)

SIGA Technologies

Higher Rev Chg LTM (Value for ACAD: 12.7%)

AVDL (79.9%)

Avadel Pharmaceuticals

KNSA (56.2%)

Kiniksa Pharmaceuticals International

HROW (47.8%)

Harrow

LLY (36.8%)

Eli Lilly

CORT (17.9%)

Corcept Therapeutics

Higher Rev Chg 3Y Avg (Value for ACAD: 27.8%)

KNSA (96.3%)

Kiniksa Pharmaceuticals International

ANIP (43.7%)

ANI Pharmaceuticals

HROW (41.7%)

Harrow

BCRX (36.2%)

BioCryst Pharmaceuticals

COLL (29.0%)

Collegium Pharmaceutical

Higher Op Mgn LTM (Value for ACAD: 9.0%)

LLY (43.0%)

Eli Lilly

MRK (34.9%)

Merck

JNJ (26.2%)

Johnson & Johnson

PFE (24.6%)

Pfizer

BMY (23.8%)

Bristol-Myers Squibb

Higher CFO/Rev LTM (Value for ACAD: 19.0%)

BMY (34.6%)

Bristol-Myers Squibb

MRK (26.6%)

Merck

JNJ (26.3%)

Johnson & Johnson

PFE (20.8%)

Pfizer

LLY (20.5%)

Eli Lilly

Higher FCF/Rev LTM (Value for ACAD: 9.5%)

BMY (31.9%)

Bristol-Myers Squibb

ZTS (23.8%)

Zoetis

MRK (20.3%)

Merck

JNJ (20.3%)

Johnson & Johnson

PFE (16.5%)

Pfizer

Higher Total Yield (Value for ACAD: 5.5%)

PFE (13.6%)

Pfizer

MRK (10.4%)

Merck

BMY (9.9%)

Bristol-Myers Squibb

JNJ (7.5%)

Johnson & Johnson

ZTS (6.4%)

Zoetis

SECTOR: Health Care

Higher Rev Chg 3Y Avg | Lower P/S (Values for ACAD: 27.8% | 4.5x)

GMED (45.6% | 4.3x)

Globus Medical

HIMS (71.0% | 3.6x)

Hims & Hers Health

PTCT (41.7% | 3.5x)

PTC Therapeutics

ALHC (38.8% | 1.1x)

Alignment Healthcare

OSCR (46.4% | 0.3x)

Oscar Health

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ACAD: 27.8% | 50.2x)

GMED (45.6% | 27.7x)

Globus Medical

HALO (29.0% | 10.8x)

Halozyme Therapeutics

PTCT (41.7% | 6.7x)

PTC Therapeutics

ADMA (56.9% | 28.4x)

ADMA Biologics

TGTX (1272.3% | 44.0x)

TG Therapeutics

Higher Rev Chg LTM (Value for ACAD: 12.7%)

LLY (36.8%)

Eli Lilly

ISRG (22.2%)

Intuitive Surgical

BSX (21.6%)

Boston Scientific

CI (20.9%)

Cigna

MCK (17.2%)

McKesson

Higher Rev Chg 3Y Avg (Value for ACAD: 27.8%)

BBIO (727.6%)

BridgeBio Pharma

ALNY (51.4%)

Alnylam Pharmaceuticals

GMED (45.6%)

Globus Medical

NTRA (40.2%)

Natera

GH (28.0%)

Guardant Health

Higher Op Mgn LTM (Value for ACAD: 9.0%)

LLY (43.0%)

Eli Lilly

MRK (34.9%)

Merck

JNJ (26.2%)

Johnson & Johnson

ABBV (24.1%)

AbbVie

ABT (17.6%)

Abbott Laboratories

Higher CFO/Rev LTM (Value for ACAD: 19.0%)

ABBV (35.0%)

AbbVie

MRK (26.6%)

Merck

JNJ (26.3%)

Johnson & Johnson

ABT (20.8%)

Abbott Laboratories

LLY (20.5%)

Eli Lilly

Higher FCF/Rev LTM (Value for ACAD: 9.5%)

ABBV (33.0%)

AbbVie

MRK (20.3%)

Merck

JNJ (20.3%)

Johnson & Johnson

ABT (15.8%)

Abbott Laboratories

TMO (14.0%)

Thermo Fisher Scientific

Higher Total Yield (Value for ACAD: 5.5%)

MRK (10.4%)

Merck

UNH (8.6%)

UnitedHealth

ABT (8.3%)

Abbott Laboratories

JNJ (7.5%)

Johnson & Johnson

AMGN (6.8%)

Amgen

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for ACAD: 27.8% | 4.5x)

MELI (39.5% | 3.9x)

MercadoLibre

APO (89.3% | 3.2x)

Apollo Asset Management

LVS (51.6% | 3.7x)

Las Vegas Sands

CCL (45.9% | 1.6x)

Carnival

ACGL (28.9% | 1.9x)

Arch Capital

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ACAD: 27.8% | 50.2x)

NVDA (91.6% | 40.6x)

NVIDIA

MU (28.3% | 22.6x)

Micron Technology

ANET (29.4% | 45.4x)

Arista Networks

MELI (39.5% | 32.3x)

MercadoLibre

APO (89.3% | 10.9x)

Apollo Asset Management

Higher Rev Chg LTM (Value for ACAD: 12.7%)

NVDA (65.2%)

NVIDIA

AVGO (23.9%)

Broadcom

META (21.3%)

Meta Platforms

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

Higher Rev Chg 3Y Avg (Value for ACAD: 27.8%)

NVDA (91.6%)

NVIDIA

APP (36.0%)

AppLovin

ANET (29.4%)

Arista Networks

PLTR (29.3%)

Palantir Technologies

MU (28.3%)

Micron Technology

Higher Op Mgn LTM (Value for ACAD: 9.0%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

AMZN (11.4%)

Amazon.com

Higher CFO/Rev LTM (Value for ACAD: 19.0%)

META (56.8%)

Meta Platforms

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

Higher FCF/Rev LTM (Value for ACAD: 9.5%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for ACAD: 5.5%)

XOM (9.3%)

Exxon Mobil

BAC (7.1%)

Bank of America

HD (6.9%)

Home Depot

JPM (6.5%)

JPMorgan Chase

BRK-B (6.3%)

Berkshire Hathaway

		Best Bets In Health Care Sector
	ACAD	RPRX	HALO	DOCS	CPRX	HRMY	LGND	ISRG	GMED	MD	HIMS
What You Pay
P/E	18.1	21.9	13.4	33.4	13.7	12.0	79.8	75.3	28.4	11.5	59.3
P/EBIT	50.2	10.6	10.5	34.2	11.5	9.1	58.0	73.4	27.7	7.7	69.0
What You Get
Rev Chg Q	11.3%	7.9%	22.1%	23.2%	15.3%	28.7%	122.8%	22.9%	22.9%	-3.6%	49.2%
Rev Chg LTM	12.7%	3.7%	31.2%	20.2%	25.6%	21.1%	64.8%	22.2%	11.7%	-4.2%	78.0%
Rev Chg 3Y Avg	27.8%	1.5%	29.0%	17.4%	46.5%	27.4%	16.0%	16.3%	45.6%	-0.5%	71.0%
FCF/Rev 3Y Avg	5.5%	115.2%	45.0%	42.7%	34.2%	33.2%	23.9%	16.5%	14.3%	8.9%	6.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.9%, and sharpe of 0.52

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	ACADIA Pharmaceuticals Earnings Notes
2	With ACADIA Pharmaceuticals Stock Surging, Have You Considered The Downside?	Return
3	Is The 20.2% Decline In ACADIA Pharmaceuticals (ACAD) Stock A Dip Buying Opportunity?	Actionable
4	ACAD Dip Buy Analysis
5	ACADIA Pharmaceuticals Market Price	Market Price
6	ACADIA Pharmaceuticals (ACAD) Operating Cash Flow Comparison	Financials
7	ACADIA Pharmaceuticals (ACAD) Net Income Comparison	Financials
8	ACADIA Pharmaceuticals (ACAD) worth $1.9 Tril (up $172 Bil), more valuable than Meta Platforms	Notification
9	ACADIA Pharmaceuticals (ACAD) worth $1.9 Tril (up $197 Bil), more valuable than Meta Platforms	Notification
10	ACADIA Pharmaceuticals (ACAD) worth $1.9 Tril (up $197 Bil), more valuable than Meta Platforms	Notification

	Title
0	ARTICLES

Trade Ideas

Select ideas related to ACAD. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CRL_11142025_Dip_Buyer_FCFYield	11142025	CRL	Charles River Laboratories International	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	17.4%	17.4%	-3.7%
GDRX_11142025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11142025	GDRX	GoodRx	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-6.7%	-6.7%	-11.8%
ASTH_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11142025	ASTH	Astrana Health	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	10.9%	10.9%	-5.5%
SGRY_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11142025	SGRY	Surgery Partners	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	2.7%	2.7%	-1.4%
TFX_11072025_Dip_Buyer_FCFYield	11072025	TFX	Teleflex	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	11.4%	11.4%	-5.1%

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ADEA	Adeia	1.8	30.5%	21.0%
AAOI	Applied Optoelectronics	2.5	24.8%	6.1%
QBTS	D-Wave Quantum	11.0	20.0%	283.2%
ZBIO	Zenas BioPharma	1.8	17.1%	416.8%
UNF	UniFirst	3.6	16.1%	16.4%
FLY	Firefly Aerospace	4.0	16.0%
UAMY	United States Antimony	0.7	16.0%	215.8%
RZLT	Rezolute	0.2	15.8%	-58.2%
RCAT	Red Cat	0.8	14.5%	-28.2%
KURA	Kura Oncology	1.0	14.5%	29.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	7.0	-66.3%	-72.5%
EWTX	Edgewise Therapeutics	2.2	-18.0%	-21.6%
DJT	Trump Media & Technology	4.0	-10.4%	-57.7%
AVO	Mission Produce	0.8	-9.7%	-17.0%
GTN-A	Gray Media	1.0	-8.0%	43.1%
ANGX	Angel Studios	0.8	-8.0%
DDS	Dillard's	9.6	-7.7%	48.3%
NKTR	Nektar Therapeutics	0.6	-7.2%	211.7%
MPLT	MapLight Therapeutics	0.8	-6.7%
TLRY	Tilray Brands	11.0	-6.6%	-21.7%

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Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	2.0	50.1%	-8.1%
FBYD	Falcons Beyond Global	0.7	46.4%	129.2%
TE	T1 Energy	1.1	44.3%
HUT	Hut 8	5.3	42.2%	145.9%
FLY	Firefly Aerospace	4.0	40.5%
RKLB	Rocket Lab	39.9	40.0%	204.5%
DJT	Trump Media & Technology	4.0	37.8%	-57.7%
QBTS	D-Wave Quantum	11.0	35.6%	283.2%
EEX	Emerald	0.9	34.2%	-0.1%
AAOI	Applied Optoelectronics	2.5	30.8%	6.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-79.5%	-26.1%
TPL	Texas Pacific Land	7.0	-63.9%	-72.5%
LW	Lamb Weston	6.0	-28.0%	-34.3%
OLMA	Olema Pharmaceuticals	2.4	-21.4%	383.4%
FDMT	4D Molecular Therapeutics	0.5	-20.5%	56.4%
NKTR	Nektar Therapeutics	0.6	-18.4%	211.7%
INSP	Inspire Medical Systems	2.9	-17.9%	-47.2%
PLAY	Dave & Buster's Entertainment	0.6	-17.9%	-45.0%
NKE	Nike	84.5	-15.6%	-22.6%
HPP	Hudson Pacific Properties	4.6	-14.9%	-51.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	168.4%
WVE	WAVE Life Sciences	2.9	166.0%	45.3%
LUNR	Intuitive Machines	2.0	107.3%	-8.1%
AAOI	Applied Optoelectronics	2.5	100.6%	6.1%
RKLB	Rocket Lab	39.9	96.4%	204.5%
VERA	Vera Therapeutics	3.4	93.0%	27.2%
ANF	Abercrombie & Fitch	5.9	83.9%	-16.6%
PL	Planet Labs PBC	6.3	83.4%	409.9%
ARWR	Arrowhead Pharmaceuticals	9.6	81.1%	267.0%
FTRE	Fortrea	1.6	76.2%	-5.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-78.8%	-58.2%
TPL	Texas Pacific Land	7.0	-65.7%	-72.5%
JANX	Janux Therapeutics	0.9	-50.7%	-73.7%
FRMI	Fermi	6.2	-42.4%
LENZ	LENZ Therapeutics	0.5	-36.4%	-39.0%
GOGO	Gogo	0.6	-30.3%	-41.9%
UP	Wheels Up Experience	0.4	-27.4%	-62.1%
ACLX	Arcellx	3.7	-27.2%	-15.0%
ORIC	ORIC Pharmaceuticals	0.7	-26.8%	4.1%
KOS	Kosmos Energy	0.5	-26.5%	-71.8%

Peer Comparisons for ACADIA Pharmaceuticals

Peers to compare with:

Financials

	ACAD	NBIX	AXSM	DNLI	BTAI	Median
Name	ACADIA P.	Neurocri.	Axsome T.	Denali T.	BioXcel .
Mkt Price	28.06	147.53	154.70	17.47	1.74	28.06
Mkt Cap	4.7	14.7	7.7	3.0	0.0	4.7
Rev LTM	1,047	2,683	561	0	1	561
Op Inc LTM	94	554	-195	-548	-50	-50
FCF LTM	99	593	-101	-412	-58	-58
FCF 3Y Avg	70	473	-126	-378	-103	-103
CFO LTM	199	637	-101	-398	-58	-58
CFO 3Y Avg	103	508	-125	-364	-103	-103

Growth & Margins

	ACAD	NBIX	AXSM	DNLI	BTAI	Median
Name	ACADIA P.	Neurocri.	Axsome T.	Denali T.	BioXcel .
Rev Chg LTM	12.7%	19.6%	65.8%	-	-67.0%	16.1%
Rev Chg 3Y Avg	27.8%	24.6%	296.0%	-	274.3%	151.0%
Rev Chg Q	11.3%	27.8%	63.2%	-	-54.2%	19.5%
QoQ Delta Rev Chg LTM	2.8%	6.9%	13.4%	-	-13.4%	4.8%
Op Mgn LTM	9.0%	20.6%	-34.7%	-	-6,708.2%	-12.8%
Op Mgn 3Y Avg	-1.1%	22.1%	-63.2%	-	-8,707.9%	-32.1%
QoQ Delta Op Mgn LTM	0.2%	0.8%	7.3%	-	-930.4%	0.5%
CFO/Rev LTM	19.0%	23.7%	-18.0%	-	-7,741.2%	0.5%
CFO/Rev 3Y Avg	8.7%	22.6%	-40.3%	-	-8,288.0%	-15.8%
FCF/Rev LTM	9.5%	22.1%	-18.1%	-	-7,741.2%	-4.3%
FCF/Rev 3Y Avg	5.5%	21.1%	-40.4%	-	-8,288.0%	-17.5%

Valuation

	ACAD	NBIX	AXSM	DNLI	BTAI	Median
Name	ACADIA P.	Neurocri.	Axsome T.	Denali T.	BioXcel .
Mkt Cap	4.7	14.7	7.7	3.0	0.0	4.7
P/S	4.5	5.5	13.8	-	32.8	9.6
P/EBIT	50.2	25.1	-34.7	-5.5	-0.5	-0.5
P/E	18.1	34.3	-33.7	-6.0	-0.4	-0.4
P/CFO	23.8	23.0	-76.7	-7.6	-0.4	-0.4
Total Yield	5.5%	2.9%	-3.0%	-16.6%	-276.1%	-3.0%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	2.7%	3.8%	-3.0%	-12.1%	-2,989.1%	-3.0%
D/E	0.0	0.0	0.0	0.0	4.4	0.0
Net D/E	-0.2	-0.0	-0.0	-0.3	3.0	-0.0

Returns

	ACAD	NBIX	AXSM	DNLI	BTAI	Median
Name	ACADIA P.	Neurocri.	Axsome T.	Denali T.	BioXcel .
1M Rtn	19.1%	4.0%	3.5%	-2.9%	-8.9%	3.5%
3M Rtn	14.4%	0.6%	31.7%	31.2%	-37.4%	14.4%
6M Rtn	24.8%	17.3%	52.2%	28.3%	5.5%	24.8%
12M Rtn	66.3%	8.9%	70.5%	-18.6%	-68.1%	8.9%
3Y Rtn	81.4%	22.6%	109.6%	-37.3%	-99.5%	22.6%
1M Excs Rtn	17.3%	1.0%	2.8%	-3.4%	-8.0%	1.0%
3M Excs Rtn	15.6%	-2.6%	27.6%	30.5%	-32.9%	15.6%
6M Excs Rtn	12.3%	2.2%	35.5%	8.4%	-12.3%	8.4%
12M Excs Rtn	48.8%	-8.2%	53.5%	-35.6%	-86.5%	-8.2%
3Y Excs Rtn	9.6%	-50.1%	23.2%	-116.4%	-176.0%	-50.1%

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

null

FDA Approved Drugs Data

Expand for More

					Post-Approval Fwd Returns
FDA App #	Brand Name	Generic Name	Dosage Form	FDA Approval	3M Rtn	6M Rtn	1Y Rtn	2Y Rtn	Total Rtn
NDA219884	DAYBUE STIX	trofinetide	solution	12112025	5.2%	5.2%	5.2%	5.2%	5.2%
NDA217026	DAYBUE	trofinetide	solution	3102023	21.4%	29.8%	15.1%	-13.8%	37.8%
NDA210793	NUPLAZID	pimavanserin tartrate	capsule	6282018	44.7%	2.5%	77.4%	218.0%	86.2%
NDA207318	NUPLAZID	pimavanserin tartrate	tablet	4292016	14.7%	-30.1%	6.3%	-49.6%	-13.1%

	Post-Approval Fwd Returns
NDA219884	DAYBUE STIX	trofinetide	solution	12112025	5.2%	5.2%	5.2%	5.2%	5.2%
NDA217026	DAYBUE	trofinetide	solution	3102023	21.4%	29.8%	15.1%	-13.8%	37.8%
NDA210793	NUPLAZID	pimavanserin tartrate	capsule	6282018	44.7%	2.5%	77.4%	218.0%	86.2%
NDA207318	NUPLAZID	pimavanserin tartrate	tablet	4292016	14.7%	-30.1%	6.3%	-49.6%	-13.1%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	2/27/2025	2/28/2024	2/28/2023	3/1/2022	2/25/2021	2/27/2020
Key Financials
Total Revenue	1,047	958	726	517	484	442	339
EBITDA	108	100	-68	-222	-167	-284	-244
Operating Income	94	84	-73	-224	-170	-287	-247
Net Income	261	226	-61	-216	-168	-282	-235
EPS	1.56	1.37	-0.37	-1.34	-1.05	-1.79	-1.60
Growth Rates
Total Revenue Growth	12.7%	31.8%	40.4%	6.8%	9.6%	30.3%	51.5%
EBITDA Growth	-12.9%	247.7%	69.4%	-32.6%	41.1%	-16.4%	0.3%
Operating Income Growth	-15.9%	214.9%	67.2%	-31.2%	40.5%	-16.2%	0.4%
Net Income Growth	103.2%	469.5%	71.6%	-28.7%	40.4%	-19.7%	4.1%
Margins
EBITDA Margin	10.4%	10.5%	-9.3%	-42.8%	-34.5%	-64.2%	-71.9%
Operating Income Margin	9.0%	8.8%	-10.1%	-43.2%	-35.2%	-64.9%	-72.7%
Net Income Margin	24.9%	23.6%	-8.4%	-41.8%	-34.7%	-63.7%	-69.4%
Cash & Debt
Total Cash	847	756	439	417	521	632	697
Total Debt	55	52	57	62	64	50	10
Net Debt / (Cash)	-792	-704	-382	-355	-456	-582	-688
Cash Flows
Net Cash from Operations	199	158	17	-114	-126	-136	-151
Free Cash from Operations	99	157	-23	-114	-127	-144	-152
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/7/2025	5/8/2025	2/27/2025	11/7/2024	8/7/2024	5/9/2024	2/28/2024	11/3/2023	8/3/2023	5/8/2023	2/28/2023
Key Financials Quarterly
Total Revenue	279	265	244	260	250	242	206	231	212	165	118	136
Ebitda	39	35	22	12	34	33	21	37	-56	5	-53	-46
Operating Income	36	32	19	7	32	30	15	35	-58	3	-54	-46
Net Income	72	27	19	144	33	33	17	46	-65	1	-43	-42
EPS	0.43	0.16	0.11	0.86	0.20	0.20	0.10	0.28	-0.40	0.01	-0.27	-0.26
Key Financials TTM
Total Revenue TTM	1,047	1,019	996	958	929	891	814	726	632	551	520	517
Ebitda TTM	108	104	102	100	125	34	6	-68	-150	-124	-162	-222
Operating Income TTM	94	90	88	84	112	23	-5	-73	-154	-127	-164	-224
Net Income TTM	261	222	229	226	129	31	-2	-61	-149	-111	-146	-216
Growth Rates Quarterly
Total Revenue Growth	11.3%	9.3%	18.7%	12.4%	18.3%	46.4%	73.8%	69.3%	62.0%	22.8%	2.6%	4.4%
EBITDA Growth	13.1%	7.0%	7.2%	-66.6%	161.0%	587.2%	139.0%	180.3%	-84.6%	114.5%	52.7%	-3.3%
Operating Income Growth	13.0%	6.4%	26.8%	-80.0%	154.8%	902.2%	128.4%	175.9%	-87.2%	109.0%	52.6%	-3.1%
Net Income Growth	119.1%	-20.1%	14.7%	213.9%	150.3%	2897.2%	138.5%	209.8%	-139.8%	103.3%	61.9%	3.2%
Margins Quarterly
EBITDA Margin	13.9%	13.3%	9.1%	4.7%	13.7%	13.6%	10.1%	15.8%	-26.5%	2.9%	-44.9%	-33.4%
Operating Income Margin	12.8%	12.2%	7.9%	2.7%	12.6%	12.6%	7.4%	15.1%	-27.3%	1.8%	-45.2%	-33.7%
Net Income Margin	25.8%	10.1%	7.8%	55.4%	13.1%	13.8%	8.0%	19.8%	-30.8%	0.7%	-36.3%	-30.6%
Cash & Debt
Total Cash	847	762	682	756	565	501	471	439	346	375	403	417
Total Debt	55	56	56	52	49	58	60	57	57	59	61	62
Net Debt / (Cash)	-792	-706	-626	-704	-516	-443	-411	-382	-289	-317	-342	-355
Cash Flows Quarterly
FCF from Operations	74	64	20	40	63	25	29	85	-59	8	-18	-24
Cash Flows TTM
FCF from Operations TTM	199	188	149	158	203	81	64	17	-93	-34	-56	-114
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	6.5%	3.8%	2.3%	1.1%	4.4%	4.5%	1.9%	5.6%	-9.1%	0.1%	-8.4%	-7.6%
Return on Invested Capital (ROIC) TTM
ROIC TTM	4.1%	3.3%	3.3%	3.3%	4.4%	0.6%	-0.2%	-3.0%	-6.1%	-5.1%	-6.7%	-9.3%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
NUPLAZID	549	517
DAYBUE	177	0
Product sales, net			484	442	339
Total	726	517	484	442	339

Price Behavior

Price Behavior

Market Price	$28.06
Market Cap ($ Bil)	4.7
First Trading Date	05/27/2004
Distance from 52W High	0.0%
	50 Days	200 Days
DMA Price	$23.92	$21.51
DMA Trend	up	up
Distance from DMA	17.3%	30.5%
	3M	1YR
Volatility	41.3%	49.2%
Downside Capture	162.63	94.54
Upside Capture	207.88	130.37
Correlation (SPY)	35.3%	34.7%

ACAD Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.10	1.14	1.29	1.18	0.87	0.96
Up Beta	-1.11	-0.15	0.39	0.85	0.60	0.80
Down Beta	2.09	1.47	0.76	0.97	0.92	0.94
Up Capture	237%	197%	145%	139%	146%	111%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	21	30	61	118	352
Down Capture	105%	98%	197%	140%	97%	102%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	19	31	61	125	389

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of ACAD With Other Asset Classes (Last 1Y)
	ACAD	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	61.2%	13.6%	14.7%	67.3%	6.8%	-0.5%	-16.6%
Annualized Volatility	48.9%	17.3%	19.7%	19.3%	15.2%	17.6%	35.4%
Sharpe Ratio	1.12	0.57	0.57	2.54	0.23	-0.18	-0.25
Correlation With Other Assets		32.2%	35.2%	-6.0%	11.6%	36.5%	20.2%

ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of ACAD With Other Asset Classes (Last 5Y)
	ACAD	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-11.7%	8.7%	15.0%	18.9%	11.8%	5.1%	35.8%
Annualized Volatility	60.2%	14.5%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	0.06	0.42	0.71	0.98	0.51	0.18	0.63
Correlation With Other Assets		26.0%	26.1%	2.5%	5.0%	25.6%	9.8%

Based On 10-Year Data

		Comparison of ACAD With Other Asset Classes (Last 10Y)
	ACAD	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-1.8%	10.0%	14.9%	14.9%	6.7%	5.5%	69.9%
Annualized Volatility	63.8%	16.7%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.25	0.50	0.71	0.84	0.30	0.23	0.90
Correlation With Other Assets		32.4%	30.8%	0.2%	10.5%	22.8%	9.7%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	8,911,463
Short Interest: % Change Since 11152025	-5.7%
Average Daily Volume	1,336,272
Days-to-Cover Short Interest	6.67
Basic Shares Quantity	168,836,000
Short % of Basic Shares	5.3%

Returns Analyses

	Title
0	With ACADIA Pharmaceuticals Stock Surging, Have You Considered The Downside?
1	ACADIA Pharmaceuticals Stock Return Comparison
2	ACADIA Pharmaceuticals Total Shareholder Return (TSR): -31.8% in 2022 and -28.1% 3-yr returns (below peer average)
3	ACADIA Pharmaceuticals (ACAD) Stock Return: AI Predicts ACAD Average and Excess Return After a Fall or Rise

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/5/2025	-3.0%	8.1%	19.8%
8/6/2025	2.5%	5.6%	6.1%
5/7/2025	14.3%	15.9%	48.4%
2/26/2025	1.8%	-4.8%	-9.5%
11/6/2024	8.9%	11.4%	9.4%
8/6/2024	-19.5%	-16.6%	-14.0%
5/8/2024	-11.2%	-11.7%	-13.1%
2/27/2024	-9.9%	-9.7%	-31.0%
...
SUMMARY STATS
# Positive	10	6	8
# Negative	12	16	14
Median Positive	3.7%	9.7%	10.8%
Median Negative	-5.1%	-4.6%	-10.0%
Max Positive	14.3%	15.9%	48.4%
Max Negative	-19.5%	-16.6%	-46.6%

	Forward Returns
11/5/2025	-3.0%	8.1%	19.8%
8/6/2025	2.5%	5.6%	6.1%
5/7/2025	14.3%	15.9%	48.4%
2/26/2025	1.8%	-4.8%	-9.5%
11/6/2024	8.9%	11.4%	9.4%
8/6/2024	-19.5%	-16.6%	-14.0%
5/8/2024	-11.2%	-11.7%	-13.1%
2/27/2024	-9.9%	-9.7%	-31.0%
11/2/2023	4.7%	-4.3%	-0.6%
7/18/2023	-3.3%	-10.3%	-11.3%
2/28/2023	1.1%	-1.6%	-8.3%
11/2/2022	-7.0%	-6.1%	-1.1%
8/8/2022	-2.4%	-0.1%	1.4%
2/28/2022	-1.3%	-4.0%	-0.4%
11/8/2021	10.2%	1.0%	11.3%
8/4/2021	-8.6%	-12.9%	-18.4%
5/5/2021	8.0%	12.5%	22.1%
2/24/2021	-2.8%	-2.6%	-46.6%
11/4/2020	-1.2%	-0.1%	10.4%
8/5/2020	1.8%	-7.0%	-10.5%
5/7/2020	2.8%	-4.0%	-5.1%
1/13/2020	-7.6%	-4.0%	-3.0%
SUMMARY STATS
# Positive	10	6	8
# Negative	12	16	14
Median Positive	3.7%	9.7%	10.8%
Median Negative	-5.1%	-4.6%	-10.0%
Max Positive	14.3%	15.9%	48.4%
Max Negative	-19.5%	-16.6%	-46.6%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8072025	10-Q 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	2272025	10-K 12/31/2024
9302024	11072024	10-Q 9/30/2024
6302024	8072024	10-Q 6/30/2024
3312024	5092024	10-Q 3/31/2024
12312023	2282024	10-K 12/31/2023
9302023	11032023	10-Q 9/30/2023
6302023	8032023	10-Q 6/30/2023
3312023	5082023	10-Q 3/31/2023
12312022	2282023	10-K 12/31/2022
9302022	11032022	10-Q 9/30/2022
6302022	8092022	10-Q 6/30/2022
3312022	5052022	10-Q 3/31/2022
12312021	3012022	10-K 12/31/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Daly James M		11122025	Sell	22.37	30,000	670,983	90,381	Form

Industry Resources

Health Care Resources

U.S. National Library of Medicine

Health Data Management

FDA Tracker

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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ACADIA Pharmaceuticals (ACAD)

Market Price (12/23/2025): $28.06 | Market Cap: $4.7 BilSector: Health Care | Industry: Pharmaceuticals

ACADIA Pharmaceuticals (ACAD)

Market Price (12/23/2025): $28.06Market Cap: $4.7 BilSector: Health CareIndustry: Pharmaceuticals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

ACAD Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About ACADIA Pharmaceuticals (ACAD)

Key Business Risks for ACADIA Pharmaceuticals (ACAD)

NUPLAZID (pimavanserin)

DAYBUE (trofinetide)

Interactive Breakdown

Better Bets than ACADIA Pharmaceuticals (ACAD)

INDUSTRY: Pharmaceuticals

Higher Rev Chg 3Y Avg | Lower P/S (Values for ACAD: 27.8% | 4.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ACAD: 27.8% | 50.2x)

Higher Rev Chg LTM (Value for ACAD: 12.7%)

Higher Rev Chg 3Y Avg (Value for ACAD: 27.8%)

Higher Op Mgn LTM (Value for ACAD: 9.0%)

Higher CFO/Rev LTM (Value for ACAD: 19.0%)

Higher FCF/Rev LTM (Value for ACAD: 9.5%)

Higher Total Yield (Value for ACAD: 5.5%)

SECTOR: Health Care

Higher Rev Chg 3Y Avg | Lower P/S (Values for ACAD: 27.8% | 4.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ACAD: 27.8% | 50.2x)

Higher Rev Chg LTM (Value for ACAD: 12.7%)

Higher Rev Chg 3Y Avg (Value for ACAD: 27.8%)

Higher Op Mgn LTM (Value for ACAD: 9.0%)

Higher CFO/Rev LTM (Value for ACAD: 19.0%)

Higher FCF/Rev LTM (Value for ACAD: 9.5%)

Higher Total Yield (Value for ACAD: 5.5%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for ACAD: 27.8% | 4.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for ACAD: 27.8% | 50.2x)

Higher Rev Chg LTM (Value for ACAD: 12.7%)

Higher Rev Chg 3Y Avg (Value for ACAD: 27.8%)

Higher Op Mgn LTM (Value for ACAD: 9.0%)

Higher CFO/Rev LTM (Value for ACAD: 19.0%)

Higher FCF/Rev LTM (Value for ACAD: 9.5%)

Higher Total Yield (Value for ACAD: 5.5%)

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Market Price (12/23/2025): $28.06 | Market Cap: $4.7 Bil
Sector: Health Care | Industry: Pharmaceuticals

Market Price (12/23/2025): $28.06
Market Cap: $4.7 Bil
Sector: Health Care
Industry: Pharmaceuticals