Acadia Pharmaceuticals (ACAD)
Market Price (10/1/2026): $20.135 | Market Cap: $3.5 BilSector: Health Care | Industry: Pharmaceuticals
Acadia Pharmaceuticals (ACAD)
Market Price (10/1/2026): $20.135Market Cap: $3.5 BilSector: Health CareIndustry: Pharmaceuticals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -26% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14% Low stock price volatilityVol 12M is 39% Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies. | Weak multi-year price returns2Y Excs Rtn is -2.2%, 3Y Excs Rtn is -90% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 40x Key risksACAD key risks include [1] its heavy financial dependence on its two commercialized products, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -26% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Low stock price volatilityVol 12M is 39% |
| Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies. |
| Weak multi-year price returns2Y Excs Rtn is -2.2%, 3Y Excs Rtn is -90% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 40x |
| Key risksACAD key risks include [1] its heavy financial dependence on its two commercialized products, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Acadia Pharmaceuticals (ACAD) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Acadia Pharmaceuticals' stock experienced a sharp decline in fiscal Q3 2026 due to the narrow miss of the primary endpoint in its Phase 2 RADIANT study for remlifanserin, an investigational therapy for Alzheimer's disease psychosis (ADP). On September 24, 2026, the company announced that the 60 mg dose of remlifanserin failed to achieve statistical significance on the primary endpoint (Scale for Assessment of Positive Symptoms-Hallucinations and Delusions subscales, or SAPS-H+D) at six weeks, registering a p-value of 0.0603, just above the conventional 0.05 threshold. This news triggered a significant investor sell-off, with the stock plummeting nearly 13% on September 24 and an additional 7% on September 25, leading to a roughly 19-20% drop over two days.
2. The disappointing Phase 2 results led to a deterioration of investor sentiment and analyst downgrades, raising concerns about remlifanserin's commercial viability and increasing perceived clinical risk. Following the announcement, Citi reportedly cut its odds of success for remlifanserin to 20%. Despite the drug showing a nominally significant result on a key secondary endpoint, Clinical Global Impression-Severity for ADP (CGI-S-ADP), with a p-value of 0.0077, and a favorable safety profile, the failure to meet the primary endpoint was the dominant factor in the market's negative reaction. The stock's decline reflected a sharp reset in market expectations around one of Acadia's important pipeline programs.
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Acadia Pharmaceuticals (ACAD) stock has lost about 20% since 6/30/2026 because of the following key factors:
1. Acadia Pharmaceuticals' stock experienced a sharp decline in fiscal Q3 2026 due to the narrow miss of the primary endpoint in its Phase 2 RADIANT study for remlifanserin, an investigational therapy for Alzheimer's disease psychosis (ADP). On September 24, 2026, the company announced that the 60 mg dose of remlifanserin failed to achieve statistical significance on the primary endpoint (Scale for Assessment of Positive Symptoms-Hallucinations and Delusions subscales, or SAPS-H+D) at six weeks, registering a p-value of 0.0603, just above the conventional 0.05 threshold. This news triggered a significant investor sell-off, with the stock plummeting nearly 13% on September 24 and an additional 7% on September 25, leading to a roughly 19-20% drop over two days.
2. The disappointing Phase 2 results led to a deterioration of investor sentiment and analyst downgrades, raising concerns about remlifanserin's commercial viability and increasing perceived clinical risk. Following the announcement, Citi reportedly cut its odds of success for remlifanserin to 20%. Despite the drug showing a nominally significant result on a key secondary endpoint, Clinical Global Impression-Severity for ADP (CGI-S-ADP), with a p-value of 0.0077, and a favorable safety profile, the failure to meet the primary endpoint was the dominant factor in the market's negative reaction. The stock's decline reflected a sharp reset in market expectations around one of Acadia's important pipeline programs.
3. Despite the Phase 2 setback, Acadia Pharmaceuticals decided to advance remlifanserin into Phase 3 development with an amended protocol, which includes discontinuing the less effective 30 mg dose arm. This strategic decision, announced concurrently with the Phase 2 results, means that future returns hinge more heavily on the success of a single higher dose (60 mg) in a binary Phase 3 outcome, thus concentrating both clinical risk and potential reward. The company's management is refining the Phase 3 program, potentially by tightening enrollment criteria to include patients with more severe psychosis to enhance the drug's effect size.
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Stock Movement Drivers
Fundamental Drivers
The -20.4% change in ACAD stock from 6/30/2026 to 9/30/2026 was primarily driven by a -20.9% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.30 | 20.15 | -20.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,095 | 1,139 | 4.0% |
| Net Income Margin (%) | 34.3% | 33.4% | -2.6% |
| P/E Multiple | 11.5 | 9.1 | -20.9% |
| Shares Outstanding (Mil) | 171 | 172 | -0.6% |
| Cumulative Contribution | -20.4% |
Market Drivers
6/30/2026 to 9/30/2026| Return | Correlation | |
|---|---|---|
| ACAD | -20.4% | |
| Market (SPY) | 2.1% | 5.2% |
| Sector (XLV) | 6.2% | 22.4% |
Fundamental Drivers
The -9.5% change in ACAD stock from 3/31/2026 to 9/30/2026 was primarily driven by a -8.4% change in the company's Net Income Margin (%).| (LTM values as of) | 3312026 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.26 | 20.15 | -9.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,072 | 1,139 | 6.3% |
| Net Income Margin (%) | 36.5% | 33.4% | -8.4% |
| P/E Multiple | 9.7 | 9.1 | -6.1% |
| Shares Outstanding (Mil) | 170 | 172 | -1.0% |
| Cumulative Contribution | -9.5% |
Market Drivers
3/31/2026 to 9/30/2026| Return | Correlation | |
|---|---|---|
| ACAD | -9.5% | |
| Market (SPY) | 17.6% | 6.6% |
| Sector (XLV) | 15.4% | 32.7% |
Fundamental Drivers
The -5.6% change in ACAD stock from 9/30/2025 to 9/30/2026 was primarily driven by a -43.6% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.34 | 20.15 | -5.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,019 | 1,139 | 11.8% |
| Net Income Margin (%) | 21.8% | 33.4% | 53.3% |
| P/E Multiple | 16.1 | 9.1 | -43.6% |
| Shares Outstanding (Mil) | 168 | 172 | -2.2% |
| Cumulative Contribution | -5.6% |
Market Drivers
9/30/2025 to 9/30/2026| Return | Correlation | |
|---|---|---|
| ACAD | -5.6% | |
| Market (SPY) | 15.4% | 25.1% |
| Sector (XLV) | 22.6% | 40.4% |
Fundamental Drivers
The -3.3% change in ACAD stock from 9/30/2023 to 9/30/2026 was primarily driven by a -50.9% change in the company's P/S Multiple.| (LTM values as of) | 9302023 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.84 | 20.15 | -3.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 551 | 1,139 | 106.7% |
| P/S Multiple | 6.2 | 3.0 | -50.9% |
| Shares Outstanding (Mil) | 163 | 172 | -4.7% |
| Cumulative Contribution | -3.3% |
Market Drivers
9/30/2023 to 9/30/2026| Return | Correlation | |
|---|---|---|
| ACAD | -3.3% | |
| Market (SPY) | 84.5% | 28.8% |
| Sector (XLV) | 37.0% | 34.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ACAD Return | -56% | -32% | 97% | -41% | 46% | -24% | -62% |
| Peers Return | -37% | 36% | -3% | 2% | 34% | 9% | 22% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| ACAD Win Rate | 50% | 33% | 67% | 33% | 67% | 44% | |
| Peers Win Rate | 50% | 58% | 44% | 56% | 58% | 41% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| ACAD Max Drawdown | -71% | -53% | -38% | -54% | -31% | -34% | |
| Peers Max Drawdown | -53% | -45% | -38% | -32% | -42% | -27% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NBIX, AXSM, DNLI. 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] 2026 data is for the year up to 9/30/2026 (YTD)
How Low Can It Go
| Event | ACAD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -28.3% | -18.8% |
| % Gain to Breakeven | 39.5% | 23.1% |
| Time to Breakeven | 38 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.5% | -7.8% |
| % Gain to Breakeven | 13.0% | 8.5% |
| Time to Breakeven | 85 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.8% | -9.5% |
| % Gain to Breakeven | 42.4% | 10.5% |
| Time to Breakeven | 77 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -46.7% | -24.5% |
| % Gain to Breakeven | 87.5% | 32.4% |
| Time to Breakeven | 335 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.0% | -33.7% |
| % Gain to Breakeven | 44.8% | 50.9% |
| Time to Breakeven | 31 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.3% | -19.2% |
| % Gain to Breakeven | 47.8% | 23.8% |
| Time to Breakeven | 22 days | 105 days |
In The Past
Acadia Pharmaceuticals's stock fell -28.3% during the 2025 US Tariff Shock. Such a loss loss requires a 39.5% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | ACAD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -28.3% | -18.8% |
| % Gain to Breakeven | 39.5% | 23.1% |
| Time to Breakeven | 38 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.8% | -9.5% |
| % Gain to Breakeven | 42.4% | 10.5% |
| Time to Breakeven | 77 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -46.7% | -24.5% |
| % Gain to Breakeven | 87.5% | 32.4% |
| Time to Breakeven | 335 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.0% | -33.7% |
| % Gain to Breakeven | 44.8% | 50.9% |
| Time to Breakeven | 31 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.3% | -19.2% |
| % Gain to Breakeven | 47.8% | 23.8% |
| Time to Breakeven | 22 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -38.0% | -3.7% |
| % Gain to Breakeven | 61.4% | 3.9% |
| Time to Breakeven | 89 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -56.2% | -12.2% |
| % Gain to Breakeven | 128.5% | 13.9% |
| Time to Breakeven | 98 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -26.8% | -6.8% |
| % Gain to Breakeven | 36.6% | 7.3% |
| Time to Breakeven | 48 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -44.9% | -17.9% |
| % Gain to Breakeven | 81.5% | 21.8% |
| Time to Breakeven | 122 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -38.2% | -15.4% |
| % Gain to Breakeven | 61.8% | 18.2% |
| Time to Breakeven | 195 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -93.7% | -53.4% |
| % Gain to Breakeven | 1493.5% | 114.4% |
| Time to Breakeven | 1501 days | 1085 days |
In The Past
Acadia Pharmaceuticals's stock fell -28.3% during the 2025 US Tariff Shock. Such a loss loss requires a 39.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Acadia Pharmaceuticals (ACAD)
Acadia Pharmaceuticals Inc. (ACAD) is a biopharmaceutical company dedicated to developing and commercializing small molecule drugs for central nervous system (CNS) disorders. The company's core mission is to address significant unmet medical needs in neurological and psychiatric conditions, bringing innovative therapies to patients who currently have limited treatment options.
Acadia's flagship commercial product is NUPLAZID (pimavanserin), which is approved for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis. This drug serves a specific patient population within the Parkinson's community, offering a vital treatment for severe psychiatric symptoms. Beyond NUPLAZID's current use, the company boasts a promising pipeline, with pimavanserin itself in Phase 3 trials for other major indications, including Alzheimer's disease psychosis and the negative symptoms of schizophrenia, potentially broadening its market reach significantly.
Further strengthening its development efforts, Acadia also has Trofinetide in Phase 3 development for Rett syndrome, a rare and severe neurological disorder. Its earlier-stage pipeline includes ACP-044, a novel non-opioid analgesic in Phase 2 for acute and chronic pain, and ACP-319, a muscarinic receptor modulator in Phase 1 for schizophrenia and cognition in Alzheimer's. Through these diverse programs, Acadia Pharmaceuticals is committed to advancing new treatments across a spectrum of challenging CNS conditions.
AI Analysis | Feedback
ACAD is like **Eli Lilly**, but singularly focused on drugs for the brain and nervous system.
ACAD is like **Biogen**, but developing treatments for a broader set of neurological and psychiatric conditions like Parkinson's psychosis and Rett syndrome.
AI Analysis | Feedback
- NUPLAZID (pimavanserin): A commercialized drug used to treat hallucinations and delusions associated with Parkinson's disease psychosis.
- Pimavanserin (pipeline): Currently in Phase 3 development for treating Alzheimer's disease psychosis and negative symptoms of schizophrenia.
- Trofinetide: A Phase 3 drug candidate being developed for the treatment of Rett syndrome.
AI Analysis | Feedback
Acadia Pharmaceuticals Inc. (ACAD), as a biopharmaceutical company commercializing prescription drugs, primarily sells its products to other companies and healthcare institutions rather than directly to individuals. Its major customers are typically pharmaceutical wholesalers and distributors who then supply pharmacies, hospitals, and other healthcare providers.
Major customers for pharmaceutical companies like Acadia Pharmaceuticals commonly include:
- Pharmaceutical Wholesalers/Distributors: These companies purchase drugs in bulk from manufacturers and distribute them to pharmacies, hospitals, and clinics. Some prominent examples of public companies in this sector include:
- Hospitals and Healthcare Systems: Large institutions that purchase drugs for inpatient and outpatient care, often directly or through contracts with wholesalers.
- Retail and Specialty Pharmacies: Establishments that dispense prescribed medications to patients, typically acquiring them through wholesalers.
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Catherine Owen Adams, Chief Executive Officer
Ms. 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 joining Acadia, she served as Senior Vice President and General Manager, U.S., at Bristol Myers Squibb (BMS), where she led 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 with 6,000 employees across 19 countries during BMS’s merger with Celgene, and oversaw nine new product launches. Before her tenure at BMS, Ms. Owen Adams spent 25 years at Johnson & Johnson (J&J) in various leadership roles, including President, Janssen Immunology U.S. She began her career in R&D and manufacturing at AstraZeneca. She currently serves on the board of directors of Agios Pharmaceuticals, Inc. (publicly held) and AssistRx (privately held), and previously served on the board of Optinose PLC (public) and Robert Wood Johnson University Hospitals (non-profit).
Mark Schneyer, Executive Vice President, Chief Financial Officer
Mr. Schneyer was promoted to Executive Vice President, Chief Financial Officer (CFO) of Acadia Pharmaceuticals in December 2021, having joined the company in 2020. In his role as CFO, he oversees finance, accounting, investor relations, and business development. Before becoming CFO, he served as Acadia’s Senior Vice President of Business Development and Chief Business Officer. Prior to Acadia, Mr. Schneyer was Vice President, Business Development for the Upjohn division at Pfizer Inc., where he was involved in strategic transactions including licensing agreements, product acquisitions, divestitures, and company acquisitions since joining Pfizer in 2011. Earlier in his career, he worked as an investment banker at Lazard, advising healthcare sector boards and senior management teams. At Acadia, he led the acquisition of CerSci Therapeutics in late 2020, which brought a Phase 2 pain program into the pipeline.
Jennifer J. Rhodes, Executive Vice President, Chief Legal Officer and Secretary
Ms. Rhodes joined Acadia Pharmaceuticals as Executive Vice President, Chief Legal Officer and Secretary in January 2024. Most recently, she held roles as Executive Vice President and Chief Business Officer (from March 2022), and General Counsel, Chief Compliance Officer and Corporate Secretary (since January 2020) at Angion Biomedica Corp. From April 2016 to January 2020, Ms. Rhodes served as General Counsel and Corporate Secretary at Adamas Pharmaceuticals, Inc., where she also took on the roles of Chief Compliance Officer and Chief Business Officer during her tenure.
Kimberly J. Manhard, Senior Vice President, Global Strategic Planning and Execution
Ms. Manhard was appointed Senior Vice President, Global Strategic Planning and Execution at Acadia Pharmaceuticals in January 2024. Prior to Acadia, she served as Executive Vice President, Drug Development at Heron Therapeutics, Inc. from 2016 to 2023. Before that, from 2006 to 2016, Ms. Manhard was Senior Vice President, Regulatory Affairs and Development Operations at Ardea Biosciences Inc. Her earlier career experience includes various positions of increasing responsibility at Exelixis, Inc., Agouron Pharmaceuticals, Inc., Boehringer Ingelheim Pharmaceuticals, and Bristol Myers Squibb. She currently serves on the board of directors for Shoreline Biosciences, Inc., Inhibrx, Inc., and Toragen, Inc.
AI Analysis | Feedback
The key risks for Acadia Pharmaceuticals (ACAD) are primarily centered on the inherent challenges of drug development and its reliance on a limited product portfolio.
- Clinical Trial Failures and Regulatory Hurdles: Acadia Pharmaceuticals faces significant risks related to the successful development and regulatory approval of its pipeline drugs. For instance, pimavanserin (Nuplazid) previously failed a Phase 3 study for negative symptoms of schizophrenia and received two rejections from the FDA for Alzheimer's disease psychosis. More recently, remlifanserin, a drug candidate for Alzheimer's disease psychosis, narrowly missed its primary endpoint in a Phase 2 study in September 2026, leading to increased uncertainty regarding its Phase 3 success, despite the company's plans to continue with a modified program. Analysts have expressed skepticism about the drug's ability to achieve a positive outcome in Phase 3 trials. The company's pipeline is generally characterized as having "risky drug prospects," underscoring the substantial development risk in central nervous system disorders.
- Product Concentration Risk: Acadia's business is heavily dependent on a small number of commercialized products, primarily Nuplazid for Parkinson's disease psychosis and Daybue for Rett syndrome. This concentration creates a vulnerability where any issues affecting these key products, such as market adoption challenges, unexpected safety concerns, or increased competition, could have a substantial impact on the company's revenue and financial performance. The past setbacks with Nuplazid's expanded indications highlight this dependence. The company's strategic goal to evolve into a more diversified neurology and rare-disease platform indicates an awareness of this concentration risk.
- Competition: The biopharmaceutical industry is highly competitive, and Acadia Pharmaceuticals faces competition for both its approved products and pipeline candidates. For example, in the Alzheimer's disease psychosis therapeutic area, where Acadia is developing remlifanserin, Bristol Myers Squibb is advancing a competing drug, COBENFY, through multiple Phase 3 studies. While Acadia targets niche conditions, ongoing and emerging competition from other companies developing treatments for central nervous system disorders remains a persistent risk.
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Acadia Pharmaceuticals (symbol: ACAD) focuses on developing and commercializing treatments for central nervous system disorders. The addressable markets for their main products and pipeline candidates are as follows:
- NUPLAZID (pimavanserin) for Parkinson's disease psychosis (PDP): The market for Parkinson's disease psychosis is projected to reach USD 694.3 million globally by 2035. More specifically, the combined market for psychosis in Parkinson's disease and Alzheimer's disease across the seven major markets (7MM), which include the United States, Germany, France, the United Kingdom, Italy, Spain, and Japan, was approximately USD 1.29 billion in 2023. The U.S. market alone for psychosis in Parkinson's and Alzheimer's disease was approximately USD 868 million in 2023. NUPLAZID holds a significant share in the U.S. market, generating approximately USD 562 million in 2023. NUPLAZID is currently approved only in the U.S. for this indication.
- Pimavanserin for Alzheimer's disease psychosis (ADP): While pimavanserin has been investigated for Alzheimer's disease psychosis, no drug is currently approved by the United States Food and Drug Administration (FDA) for this indication. Acadia received a Complete Response Letter from the FDA in 2021 regarding pimavanserin for dementia-related psychosis and is developing ACP-204 as a potential treatment for Alzheimer's disease psychosis.
- Pimavanserin for negative symptoms of schizophrenia: Acadia Pharmaceuticals announced that its Phase 3 ADVANCE-2 trial evaluating pimavanserin for negative symptoms of schizophrenia did not meet its primary endpoint, and the company does not intend to conduct further clinical trials for this indication. The global schizophrenia market size was valued at approximately USD 8 billion in 2024. Approximately 24 million people worldwide suffer from schizophrenia.
- Trofinetide (Daybue) for Rett syndrome: Trofinetide (Daybue) became the first FDA-approved pharmacologic treatment for Rett syndrome in the United States in March 2023. The global Rett syndrome market size was valued at USD 360.68 million in 2025 and is projected to reach approximately USD 663.59 million by 2032. Another estimate places the Rett syndrome market size at USD 182.6 million in 2023, with a projected growth to USD 419.4 million by 2034. North America dominated the Rett Syndrome market in 2025, with the United States as the primary contributor.
- ACP-044 for acute and chronic pain: Null
- ACP-319 for schizophrenia and cognition in Alzheimer's: Null
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Acadia Pharmaceuticals (ACAD) anticipates several key drivers of future revenue growth over the next two to three years:
- Continued Growth and Market Penetration of DAYBUE (trofinetide) for Rett Syndrome: DAYBUE, Acadia's treatment for Rett syndrome, is expected to continue its strong uptake. The company has seen robust patient demand and is expanding its commercial efforts, including the introduction of DAYBUE STIX, a new oral solution formulation designed to offer greater flexibility for patients and caregivers, which is tracking ahead of projections for incremental patients. Acadia acquired ex-North American rights to DAYBUE, and its approval by the European Commission for treating neurobehavioral symptoms of Rett syndrome in the EU further expands its market potential beyond the U.S.
- Expanded Commercialization and Increased Reach for NUPLAZID (pimavanserin) in Parkinson's Disease Psychosis: Acadia is committed to driving additional growth for NUPLAZID, an established product for hallucinations and delusions associated with Parkinson's disease psychosis. Strategies include an expanded sales force (increased by 30%) targeting a broader group of prescribers beyond neurologists, such as primary care physicians, nurse practitioners, and physician assistants. Direct-to-consumer campaigns, including one featuring Ryan Reynolds, have also significantly increased awareness among caregivers, contributing to strong momentum in new-to-brand prescriptions and referrals. The company projects NUPLAZID to contribute approximately $1 billion in net sales by 2028.
- Potential Approval and Launch of Remlifanserin for Alzheimer's Disease Psychosis (ADP): Remlifanserin (formerly ACP-204) is in Phase 3 development for Alzheimer's disease psychosis and represents a potentially transformational opportunity for Acadia. While the Phase 2 RADIANT study for remlifanserin narrowly missed its primary endpoint, the 60 mg dose showed a positive effect on a key secondary measure of overall symptom severity and a clean safety profile, leading the company to continue its Phase 3 program with the 60 mg dose, dropping the 30 mg arm. Successful Phase 3 results and subsequent approval could introduce a significant new revenue stream in an indication with substantial unmet medical need and no approved therapies.
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Share Repurchases
- Acadia Pharmaceuticals has not reported any significant share repurchase programs or dollar amounts of share repurchases made over the last 3-5 years. The company's 3-year average share buyback ratio was -1.7, indicating net share issuance rather than repurchases. [cite: 1 (from previous search)]
Share Issuance
- The number of common shares outstanding for Acadia Pharmaceuticals has steadily increased over the last few years, indicating share issuance. As of December 31, 2021, shares outstanding were 161.0 million. [cite: 1 (from previous search)]
- This figure rose to 162.1 million by December 31, 2022, 164.65 million by December 31, 2023, and 166.709 million by December 31, 2024. [cite: 1 (from previous search)]
- By December 31, 2025, shares outstanding further increased to 170.309 million, with trailing twelve months (TTM) shares outstanding reaching 170.668 million by Q2 2026. [cite: 1 (from previous search)]
Inbound Investments
- No significant inbound investments from third-parties, such as strategic partners or private equity firms, into Acadia Pharmaceuticals have been publicly reported or identified within the last 3-5 years.
Outbound Investments
- Acadia Pharmaceuticals has not publicly reported any instances of making strategic outbound investments, such as acquiring other companies or taking significant equity stakes in other entities, within the last 3-5 years.
Capital Expenditures
- Acadia Pharmaceuticals' capital expenditures were approximately $1.122 million in 2021, $0.05 million in 2023, and $0.523 million in 2024.
- Capital expenditures increased to approximately $4.69 million in 2025.
- For the upcoming year (2026), capital expenditures are forecasted to be approximately $7.277 million.
Peer Outperformance in Pharmaceuticals
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 6 | 3.9% | 42.1% | 85.6% | CAH 390% · MCK 337% · COR 164% |
| Health Care Services | 20 | 17.4% | 33.7% | 5.5% | HIMS 308% · RDNT 137% · DGX 79% |
| Managed Health Care | 8 | 31.8% | -8.0% | 2.3% | OSCR 75% · HQY 32% · ELV 11% |
| Health Care Facilities | 24 | 0.8% | 7.6% | -4.7% | THC 271% · NHC 256% · ENSG 130% |
| Health Care Equipment | 50 | -5.5% | -1.3% | -16.0% | POCI 10275% · UFPT 380% · GKOS 238% |
| Pharmaceuticals ← | 62 | -7.6% | -2.4% | -30.4% | INDV 1132% · LQDA 1000% · ETON 922% |
| Health Care Supplies | 12 | 24.9% | -8.1% | -38.3% | LNTH 285% · HAE 46% · MMSI 19% |
| Life Sciences Tools & Services | 109 | -2.6% | -15.8% | -66.2% | SNWV 1822% · NTRA 268% · MEDP 219% |
| Health Care Technology | 21 | -32.2% | -53.6% | -77.8% | SPOK 69% · HSTM 3% · VEEV -1% |
| Biotechnology | 366 | -10.8% | -26.3% | -78.3% | CELZ 1235% · DNTH 1072% · ELVN 1037% |
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 81.54 |
| Mkt Cap | 6.7 |
| Rev LTM | 958 |
| Op Inc LTM | -48 |
| FCF LTM | -11 |
| FCF 3Y Avg | -24 |
| CFO LTM | 45 |
| CFO 3Y Avg | 12 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 34.4% |
| Rev Chg 3Y Avg | 29.3% |
| Rev Chg Q | 39.5% |
| QoQ Delta Rev Chg LTM | 8.8% |
| Op Inc Chg LTM | 5.2% |
| Op Inc Chg 3Y Avg | 18.5% |
| Op Mgn LTM | -8.0% |
| Op Mgn 3Y Avg | 6.3% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 2.5% |
| CFO/Rev 3Y Avg | 13.9% |
| FCF/Rev LTM | -2.4% |
| FCF/Rev 3Y Avg | 7.4% |
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 | for solution | 12112025 | -20.3% | -19.8% | -24.5% | -24.5% | -24.5% |
| NDA217026 | DAYBUE | trofinetide | solution | 3102023 | 21.4% | 29.8% | 15.1% | -13.8% | -1.1% |
| NDA210793 | NUPLAZID | pimavanserin tartrate | capsule | 6282018 | 44.7% | 2.5% | 77.4% | 218.0% | 33.7% |
| NDA207318 | NUPLAZID | pimavanserin tartrate | tablet | 4292016 | 14.7% | -30.1% | 6.3% | -49.6% | -37.6% |
| 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 | for solution | 12112025 | -20.3% | -19.8% | -24.5% | -24.5% | -24.5% |
| NDA217026 | DAYBUE | trofinetide | solution | 3102023 | 21.4% | 29.8% | 15.1% | -13.8% | -1.1% |
| NDA210793 | NUPLAZID | pimavanserin tartrate | capsule | 6282018 | 44.7% | 2.5% | 77.4% | 218.0% | 33.7% |
| NDA207318 | NUPLAZID | pimavanserin tartrate | tablet | 4292016 | 14.7% | -30.1% | 6.3% | -49.6% | -37.6% |
Clinical Pipeline
| Drug Candidate | Indication | Phase 3 Trials | Est. Primary Completion |
|---|---|---|---|
| ACP-204 | Alzheimer's and Lewy body dementia psychosis | 3 | Jan 2028 |
| Carbetocin (ACP-101) | Hyperphagia in Prader-Willi Syndrome | 1 | Oct 2025 |
Price Behavior
| Market Price | $20.15 | |
| Market Cap ($ Bil) | 3.5 | |
| First Trading Date | 05/27/2004 | |
| Distance from 52W High | -34.1% | |
| 50 Days | 200 Days | |
| DMA Price | $27.15 | $24.47 |
| DMA Trend | up | up |
| Distance from DMA | -25.8% | -17.6% |
| 3M | 1YR | |
| Volatility | 44.4% | 39.2% |
| Downside Capture | 124.64 | 98.04 |
| Upside Capture | -12.13 | 74.82 |
| Correlation (SPY) | 5.0% | 25.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.88 | 0.19 | 0.21 | 0.21 | 0.76 | 0.92 |
| Up Beta | -0.04 | 0.83 | 0.16 | 0.60 | 0.74 | 0.79 |
| Down Beta | -3.68 | -1.05 | -0.67 | -0.36 | 0.51 | 0.76 |
| Up Capture | -229% | -62% | -11% | 6% | 66% | 86% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 7 | 20 | 30 | 63 | 123 | 354 |
| Down Capture | 328% | 165% | 124% | 49% | 99% | 105% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 15 | 22 | 34 | 63 | 128 | 389 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ACAD | |
|---|---|---|---|---|
| ACAD | -5.5% | 39.1% | -0.06 | - |
| Sector ETF (XLV) | 25.6% | 16.1% | 1.22 | 40.0% |
| Equity (SPY) | 15.9% | 13.0% | 0.87 | 25.1% |
| Gold (GLD) | 8.1% | 29.6% | 0.26 | 12.3% |
| Commodities (DBC) | 43.1% | 20.8% | 1.61 | -19.8% |
| Real Estate (VNQ) | 2.2% | 13.6% | -0.09 | 17.7% |
| Bitcoin (BTCUSD) | -27.1% | 44.5% | -0.58 | 10.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ACAD | |
|---|---|---|---|---|
| ACAD | 12.5% | 53.4% | 0.41 | - |
| Sector ETF (XLV) | 6.7% | 15.2% | 0.25 | 34.2% |
| Equity (SPY) | 13.2% | 17.2% | 0.59 | 32.9% |
| Gold (GLD) | 18.2% | 18.9% | 0.78 | 5.9% |
| Commodities (DBC) | 10.6% | 19.6% | 0.42 | 0.5% |
| Real Estate (VNQ) | 0.5% | 18.9% | -0.08 | 29.8% |
| Bitcoin (BTCUSD) | 13.9% | 52.3% | 0.44 | 13.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ACAD | |
|---|---|---|---|---|
| ACAD | -1.6% | 60.9% | 0.23 | - |
| Sector ETF (XLV) | 10.7% | 16.7% | 0.52 | 31.9% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 30.2% |
| Gold (GLD) | 11.8% | 16.4% | 0.58 | 3.1% |
| Commodities (DBC) | 8.4% | 18.1% | 0.38 | 6.5% |
| Real Estate (VNQ) | 4.5% | 20.7% | 0.18 | 22.8% |
| Bitcoin (BTCUSD) | 63.6% | 66.2% | 1.03 | 8.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | 6.1% | 8.3% | 6.6% |
| 5/6/2026 | 5.0% | 3.3% | 0.4% |
| 2/25/2026 | -1.3% | -6.3% | -14.0% |
| 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% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 11 |
| # Negative | 14 | 15 | 13 |
| Median Positive | 5.6% | 8.1% | 10.4% |
| Median Negative | -4.2% | -6.1% | -10.0% |
| Max Positive | 14.3% | 15.9% | 48.4% |
| Max Negative | -19.5% | -23.1% | -46.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | 6.1% | 8.3% | 6.6% |
| 5/6/2026 | 5.0% | 3.3% | 0.4% |
| 2/25/2026 | -1.3% | -6.3% | -14.0% |
| 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% |
| 8/2/2023 | -6.8% | -8.9% | -7.5% |
| 5/8/2023 | -0.6% | 2.6% | 14.3% |
| 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% |
| 5/4/2022 | -5.3% | -23.1% | -10.0% |
| 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% |
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 11 |
| # Negative | 14 | 15 | 13 |
| Median Positive | 5.6% | 8.1% | 10.4% |
| Median Negative | -4.2% | -6.1% | -10.0% |
| Max Positive | 14.3% | 15.9% | 48.4% |
| Max Negative | -19.5% | -23.1% | -46.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/25/2021 | 10-K |
| 09/30/2020 | 11/04/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 10/31/2019 | 10-Q |
Recent Forward Guidance
Updated 9/28/2026Latest: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 R&D Expense | Reported | 355.00 Mil | 367.50 Mil | 380.00 Mil | -7.5% | Lowered | Guidance: 397.50 Mil for 2026 | |
| 2026 Total Revenue | Reported | 1.24 Bil | 1.27 Bil | 1.30 Bil | 1.6% | Raised | Guidance: 1.25 Bil for 2026 | |
| 2026 NUPLAZID Net Product Sales | Reported | 760.00 Mil | 775.00 Mil | 790.00 Mil | 0 | Affirmed | Guidance: 775.00 Mil for 2026 | |
| 2026 DAYBUE Net Product Sales | Reported | 480.00 Mil | 495.00 Mil | 510.00 Mil | 4.2% | Raised | Guidance: 475.00 Mil for 2026 | |
| 2026 SG&A Expense | Reported | 660.00 Mil | 680.00 Mil | 700.00 Mil | 0 | Affirmed | Guidance: 680.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 R&D expense | Reported | 385.00 Mil | 397.50 Mil | 410.00 Mil | 0 | Affirmed | Guidance: 397.50 Mil for 2026 | |
| 2026 Total Revenue | Reported | 1.22 Bil | 1.25 Bil | 1.28 Bil | 0 | Affirmed | Guidance: 1.25 Bil for 2026 | |
| 2026 NUPLAZID net product sales | Reported | 760.00 Mil | 775.00 Mil | 790.00 Mil | 0 | Affirmed | Guidance: 775.00 Mil for 2026 | |
| 2026 DAYBUE net product sales | Reported | 460.00 Mil | 475.00 Mil | 490.00 Mil | 0 | Affirmed | Guidance: 475.00 Mil for 2026 | |
| 2026 SG&A expense | Reported | 660.00 Mil | 680.00 Mil | 700.00 Mil | 0 | Affirmed | Guidance: 680.00 Mil for 2026 | |
Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 R&D expense | Reported | 385.00 Mil | 397.50 Mil | 410.00 Mil | 16.9% | Higher New | Guidance: 340.00 Mil for 2025 | |
| 2026 Total Revenues | Reported | 1.22 Bil | 1.25 Bil | 1.28 Bil | 15.5% | Higher New | Guidance: 1.08 Bil for 2025 | |
| 2026 NUPLAZID net product sales | Reported | 760.00 Mil | 775.00 Mil | 790.00 Mil | 12.3% | Higher New | Guidance: 690.00 Mil for 2025 | |
| 2026 DAYBUE net product sales | Reported | 460.00 Mil | 475.00 Mil | 490.00 Mil | 21.0% | Higher New | Guidance: 392.50 Mil for 2025 | |
| 2026 SG&A expense | Reported | 660.00 Mil | 680.00 Mil | 700.00 Mil | 24.2% | Higher New | Guidance: 547.50 Mil for 2025 | |
Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 R&D expense | Reported | 335.00 Mil | 340.00 Mil | 345.00 Mil | 0 | Affirmed | Guidance: 340.00 Mil for 2025 | |
| 2025 Total Revenues | Reported | 1.07 Bil | 1.08 Bil | 1.09 Bil | 1.2% | Raised | Guidance: 1.07 Bil for 2025 | |
| 2025 NUPLAZID net product sales | Reported | 685.00 Mil | 690.00 Mil | 695.00 Mil | 1.8% | Raised | Guidance: 677.50 Mil for 2025 | |
| 2025 DAYBUE net product sales | Reported | 385.00 Mil | 392.50 Mil | 400.00 Mil | 0 | Affirmed | Guidance: 392.50 Mil for 2025 | |
| 2025 SG&A expense | Reported | 540.00 Mil | 547.50 Mil | 555.00 Mil | -0.5% | Lowered | Guidance: 550.00 Mil for 2025 | |
Insider Activity
Updated 8/7/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Schneyer, Mark C | EVP, CHIEF FINANCIAL OFFICER | Direct | Sell | 8062026 | 29.22 | 14,292 | 417,604 | 1,981,895 | Form |
| 2 | Schneyer, Mark C | EVP, CHIEF FINANCIAL OFFICER | Direct | Sell | 8062026 | 29.00 | 5,849 | 169,638 | 1,967,209 | Form |
| 3 | Thompson, Elizabeth HZ | EVP, Head of Research & Dev | Direct | Sell | 7312026 | 26.13 | 16,558 | 432,663 | 496,316 | Form |
| 4 | Kihara, James | PRINCIPAL ACCOUNTING OFFICER | Direct | Sell | 6292026 | 26.08 | 11,421 | 297,912 | 341,395 | Form |
| 5 | Kihara, James | PRINCIPAL ACCOUNTING OFFICER | Direct | Sell | 5272026 | 21.18 | 5,401 | 114,393 | 519,101 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Schneyer, Mark C | EVP, CHIEF FINANCIAL OFFICER | Direct | Sell | 8062026 | 29.22 | 14,292 | 417,604 | 1,981,895 | Form |
| 2 | Schneyer, Mark C | EVP, CHIEF FINANCIAL OFFICER | Direct | Sell | 8062026 | 29.00 | 5,849 | 169,638 | 1,967,209 | Form |
| 3 | Thompson, Elizabeth HZ | EVP, Head of Research & Dev | Direct | Sell | 7312026 | 26.13 | 16,558 | 432,663 | 496,316 | Form |
| 4 | Kihara, James | PRINCIPAL ACCOUNTING OFFICER | Direct | Sell | 6292026 | 26.08 | 11,421 | 297,912 | 341,395 | Form |
| 5 | Kihara, James | PRINCIPAL ACCOUNTING OFFICER | Direct | Sell | 5272026 | 21.18 | 5,401 | 114,393 | 519,101 | Form |
| 6 | Schneyer, Mark C | EVP, CHIEF FINANCIAL OFFICER | Direct | Sell | 5052026 | 21.79 | 3,506 | 76,396 | 1,441,300 | Form |
| 7 | Kihara, James | PRINCIPAL ACCOUNTING OFFICER | Direct | Sell | 5052026 | 21.79 | 1,332 | 29,024 | 634,721 | Form |
| 8 | Schneyer, Mark C | EVP, CHIEF FINANCIAL OFFICER | Direct | Sell | 4072026 | 22.20 | 2,709 | 60,140 | 1,394,959 | Form |
| 9 | Kihara, James | PRINCIPAL ACCOUNTING OFFICER | Direct | Sell | 4072026 | 22.20 | 1,030 | 22,866 | 618,603 | Form |
| 10 | Kihara, James | PRINCIPAL ACCOUNTING OFFICER | Direct | Sell | 3262026 | 21.65 | 1,109 | 24,011 | 582,082 | Form |
| 11 | Schneyer, Mark C | EVP, CHIEF FINANCIAL OFFICER | Direct | Sell | 3262026 | 21.65 | 3,208 | 69,456 | 1,304,871 | Form |
| 12 | Thompson, Elizabeth HZ | EVP, Head of Research & Dev | Direct | Sell | 3262026 | 21.47 | 3,435 | 73,749 | 70,422 | Form |
| 13 | Owen, Adams Catherine | Chief Executive Officer | Direct | Sell | 3262026 | 21.47 | 11,641 | 249,932 | 317,820 | Form |
| 14 | Kihara, James | PRINCIPAL ACCOUNTING OFFICER | Direct | Sell | 3262026 | 21.47 | 833 | 17,885 | 555,042 | Form |
| 15 | Schneyer, Mark C | EVP, CHIEF FINANCIAL OFFICER | Direct | Sell | 3262026 | 21.47 | 4,177 | 89,680 | 1,230,210 | Form |
| 16 | Rhodes, Jennifer J | EVP, CHIEF LEGAL OFFICER, SEC | Direct | Sell | 3262026 | 21.47 | 3,844 | 82,531 | 242,182 | Form |
| 17 | Rhodes, Jennifer J | EVP, CHIEF LEGAL OFFICER, SEC | Direct | Sell | 2102026 | 23.38 | 6,950 | 162,491 | 177,898 | Form |
| 18 | Schneyer, Mark C | EVP, CHIEF FINANCIAL OFFICER | Direct | Sell | 11192025 | 23.69 | 10,262 | 243,114 | 1,263,615 | Form |
| 19 | Kihara, James | PRINCIPAL ACCOUNTING OFFICER | Direct | Sell | 11192025 | 23.69 | 4,084 | 96,754 | 593,647 | Form |
| 20 | Daly, James M | Direct | Sell | 11122025 | 22.37 | 30,000 | 670,983 | 90,381 | Form | |
| 21 | Schneyer, Mark C | EVP, CHIEF FINANCIAL OFFICER | Direct | Sell | 9162025 | 23.65 | 3,498 | 82,728 | 1,027,522 | Form |
| 22 | Garofalo, Elizabeth A | Direct | Sell | 9032025 | 25.98 | 1,600 | 41,560 | 659,305 | Form | |
| 23 | Schneyer, Mark C | EVP, CHIEF FINANCIAL OFFICER | Direct | Sell | 8192025 | 25.18 | 22,000 | 554,024 | 1,010,590 | Form |
Investor Activity (13F)
Updated Oct 1, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Pharmaceuticals Resources |
| Fierce Pharma |
| Pharm Exec |
| Endpoints News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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