ACADIA PHARMACEUTICALS INC
ACAD · Pharmaceutical Preparations · 171.2M shares · +1%/yr ↑ shares · EDGAR filings ↗
Reference price $21.18 · est. market cap ~$3.6B — last insider sale, 2026-05-26 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B82Profitable dual-franchise neuro/rare-disease company with top-decile returns and positive cash generation, but a pipeline marked by repeated late-stage failures.
Strengths
- Top-decile ROA (97th pct) and net margin (93rd pct); 91.7% gross margin, positive FCF $105M
- Two approved products (NUPLAZID, DAYBUE) generating $1.07B with double-digit growth
Risks
- Heavy clinical attrition — PWS Phase 3, MDD, schizophrenia, ASD all failed; pipeline thin
- DAYBUE persistency/tolerability and NUPLAZID competitive/patent exposure cap durability
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $820M cash & investments
- Notable holderHeld by 6 notable fund(s): STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +3 more (as of 2026-03-31)
- Insider sellingInsider selling — 15 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$1M, last 6mo) Form 4 ↗
- Trial resultTrial topline data reported — see 8-K for outcome 8-K ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
91.7%
Operating margin
9.8%
Net margin
36.5%
Return on equity
31.9%
Return on assets
25.0%
Revenue growth (QoQ)
-5.6%
Net-income growth
72.7%
Current ratio
3.8×
Free cash flow
$105M
Tangible book value
$1.1B
Cash & investments
$820M
Stock comp / revenue
4.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-29 | BAKER BROS. ADVISORS LP | Grant | 19K | — |
| 2026-05-29 | BAKER BROS. ADVISORS LP | Grant | 19K | — |
| 2026-05-29 | Poole Jonathan | Option exercise | 2.0K | — |
| 2026-05-29 | Ndu Adora | Option exercise | 8.1K | — |
| 2026-05-29 | Daly James M | Option exercise | 8.1K | — |
| 2026-05-29 | GAROFALO ELIZABETH A. | Option exercise | 8.1K | — |
| 2026-05-29 | Brege Laura | Option exercise | 8.1K | — |
| 2026-05-29 | HARRIGAN EDMUND | Option exercise | 8.1K | — |
| 2026-05-26 | Kihara James | Sell | 5.4K | $21.18 |
| 2026-05-04 | Schneyer Mark C. | Sell | 3.5K | $21.79 |
| 2026-05-04 | Kihara James | Sell | 1.3K | $21.79 |
| 2026-05-01 | Schneyer Mark C. | Option exercise | 6.8K | — |
| 2026-05-01 | Kihara James | Option exercise | 2.6K | — |
| 2026-04-07 | Kihara James | Sell | 1.0K | $22.20 |
| 2026-04-07 | Schneyer Mark C. | Sell | 2.7K | $22.20 |
| 2026-04-05 | Kihara James | Option exercise | 2.0K | — |
| 2026-04-05 | Schneyer Mark C. | Option exercise | 5.3K | — |
| 2026-03-26 | Schneyer Mark C. | Sell | 3.2K | $21.65 |
| 2026-03-26 | Kihara James | Sell | 1.1K | $21.65 |
| 2026-03-26 | Kihara James | Sell | 12 | $21.73 |
| 2026-03-26 | Schneyer Mark C. | Sell | 37 | $21.72 |
| 2026-03-25 | Kihara James | Sell | 833 | $21.47 |
| 2026-03-25 | Rhodes Jennifer J | Sell | 3.8K | $21.47 |
| 2026-03-25 | Schneyer Mark C. | Sell | 4.2K | $21.47 |
| 2026-03-25 | Schneyer Mark C. | Option exercise | 6.2K | — |
| 2026-03-25 | Thompson Elizabeth H.Z. | Sell | 3.4K | $21.47 |
| 2026-03-25 | Owen Adams Catherine | Sell | 12K | $21.47 |
| 2026-03-25 | Kihara James | Option exercise | 2.1K | — |
| 2026-03-24 | Schneyer Mark C. | Option exercise | 8.1K | — |
| 2026-03-24 | Thompson Elizabeth H.Z. | Option exercise | 6.7K | — |
| 2026-03-24 | Owen Adams Catherine | Option exercise | 24K | — |
| 2026-03-24 | Kihara James | Option exercise | 1.6K | — |
| 2026-03-24 | Rhodes Jennifer J | Option exercise | 7.5K | — |
| 2026-02-09 | Rhodes Jennifer J | Sell | 7.0K | $23.38 |
| 2026-02-06 | Rhodes Jennifer J | Option exercise | 13K | — |
| 2025-11-18 | Schneyer Mark C. | Sell | 10K | $23.69 |
| 2025-11-18 | Kihara James | Sell | 4.1K | $23.69 |
| 2025-11-17 | Schneyer Mark C. | Option exercise | 9.9K | — |
| 2025-11-17 | Kihara James | Option exercise | 4.0K | — |
| 2025-11-17 | Kihara James | Option exercise | 4.0K | — |
| 2025-11-17 | Schneyer Mark C. | Option exercise | 9.9K | — |
| 2025-11-10 | Daly James M | Sell | 30K | $22.37 |
| 2025-09-15 | Schneyer Mark C. | Sell | 3.5K | $23.65 |
| 2025-09-12 | Schneyer Mark C. | Grant | 6.8K | — |
| 2025-09-02 | GAROFALO ELIZABETH A. | Sell | 1.6K | $25.98 |
| 2025-08-18 | Schneyer Mark C. | Sell | 22K | $25.18 |
| 2025-06-04 | Brege Laura | Sell | 14K | $21.78 |
| 2025-05-29 | BAKER BROS. ADVISORS LP | Grant | 16K | — |
| 2025-05-29 | BAKER BROS. ADVISORS LP | Grant | 16K | — |
| 2025-05-29 | GAROFALO ELIZABETH A. | Option exercise | 9.4K | — |
| 2025-05-29 | SOLAND DANIEL B | Option exercise | 9.4K | — |
| 2025-05-29 | Ndu Adora | Option exercise | 9.4K | — |
| 2025-05-29 | HARRIGAN EDMUND | Option exercise | 9.4K | — |
| 2025-05-29 | Daly James M | Option exercise | 9.4K | — |
| 2025-05-29 | Brege Laura | Option exercise | 9.4K | — |
| 2025-05-16 | Kihara James | Sell | 2.0K | $25.00 |
| 2025-05-16 | Kihara James | Sell | 2.0K | $20.00 |
| 2025-05-16 | Schneyer Mark C. | Sell | 2.0K | $25.00 |
| 2025-05-02 | Schneyer Mark C. | Sell | 3.5K | $14.60 |
| 2025-05-02 | Kihara James | Sell | 1.3K | $14.60 |
| 2025-05-01 | Kihara James | Option exercise | 2.6K | — |
| 2025-05-01 | Schneyer Mark C. | Option exercise | 6.8K | — |
| 2025-04-08 | Kihara James | Sell | 1.0K | $14.82 |
| 2025-04-08 | Schneyer Mark C. | Sell | 2.7K | $14.82 |
| 2025-04-05 | Schneyer Mark C. | Option exercise | 5.3K | — |
| 2025-04-05 | Kihara James | Option exercise | 2.0K | — |
| 2025-03-26 | Schneyer Mark C. | Sell | 3.2K | $17.05 |
| 2025-03-26 | Kihara James | Sell | 1.1K | $17.05 |
| 2025-03-25 | Schneyer Mark C. | Option exercise | 6.2K | — |
| 2025-03-25 | Kihara James | Option exercise | 2.1K | — |
| 2025-03-05 | GAROFALO ELIZABETH A. | Sell | 4.9K | $18.23 |
| 2025-02-24 | Kihara James | Sell | 475 | $19.96 |
| 2025-02-24 | Schneyer Mark C. | Sell | 773 | $19.96 |
| 2025-02-23 | Kihara James | Option exercise | 840 | — |
| 2025-02-23 | Schneyer Mark C. | Option exercise | 1.4K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT06420297 ↗ | OLE Study of Carbetocin Nasal Spray for the Treatment of Hyperphagia in Prader-Willi Syndrome Hyperphagia in Prader-Willi Syndrome | PHASE3 | Enrolling By Invitation | 2029-05-01 |
| NCT06194799 ↗ | ACP-204 in Adults With Alzheimer's Disease Psychosis Open Label Extension Study Alzheimer's Disease Psychosis | PHASE3 | Enrolling By Invitation | 2029-04-01 |
| NCT07095465 ↗ | Phase 3, Open Label Extension Study of ACP-204 in Lewy Body Dementia Psychosis Lewy Body Dementia Psychosis | PHASE3 | Enrolling By Invitation | 2029-02-01 |
| NCT07029581 ↗ | Phase 2, Efficacy and Safety Study of ACP-204 in Lewy Body Dementia Psychosis Lewy Body Dementia Psychosis | PHASE2 | Recruiting | 2028-02-01 |
| NCT06159673 ↗ | ACP-204 in Adults With Alzheimer's Disease Psychosis Alzheimer's Disease Psychosis | PHASE2/PHASE3 | Recruiting | 2028-01-01 |
| NCT07284667 ↗ | ACP-211 Monotherapy for Major Depressive Disorder With Inadequate Antidepressant Response Major Depressive Disorder (MDD), Depressive Disorder, Treatment-Resistant | PHASE2 | Recruiting | 2027-08-01 |
| NCT06173531 ↗ | Study of Carbetocin Nasal Spray for the Treatment of Hyperphagia in Prader-Willi Syndrome Hyperphagia in Prader-Willi Syndrome | PHASE3 | Active Not Recruiting | 2025-10-01 |
| NCT05555615 ↗ | Extension Study of Pimavanserin in Irritability Associated With Autism Spectrum Disorder Irritability Associated With Autism Spectrum Disorder | PHASE2/PHASE3 | Terminated | 2025-02-14 |
| NCT05523895 ↗ | Pimavanserin for the Treatment of Irritability Associated With Autism Spectrum Disorder Irritability Associated With Autism Spectrum Disorder | PHASE2/PHASE3 | Completed | 2024-09-27 |
| NCT03121586 ↗ | Extension Study of Pimavanserin for the Adjunctive Treatment of Schizophrenia Schizophrenia | PHASE3 | Terminated | 2024-04-30 |
| NCT04531982 ↗ | Efficacy and Safety of Pimavanserin as Adjunctive Treatment for the Negative Symptoms of Schizophrenia Schizophrenia | PHASE3 | Completed | 2024-01-25 |
| NCT04776746 ↗ | Open-Label Extension Study of Trofinetide for Rett Syndrome Rett Syndrome | PHASE3 | Terminated | 2023-06-30 |
| NCT04988867 ↗ | An Open-Label Study of Trofinetide for the Treatment of Girls Two to Five Years of Age Who Have Rett Syndrome Rett Syndrome | PHASE2/PHASE3 | Terminated | 2023-05-31 |
| NCT03623321 ↗ | Extension Study of Pimavanserin in Adult Subjects With Neuropsychiatric Symptoms Related to Neurodegenerative Disease Neuropsychiatric Symptoms Related to Neurodegenerative Disease | PHASE3 | Completed | 2023-05-05 |
| NCT05008835 ↗ | Evaluate the Efficacy and Safety of ACP-044 in Subjects With Pain Associated With Osteoarthritis of the Knee Osteoarthritis Pain | PHASE2 | Terminated | 2022-10-06 |
| NCT04279314 ↗ | Open-Label Extension Study of Trofinetide for the Treatment of Girls and Women With Rett Syndrome Rett Syndrome | PHASE3 | Completed | 2022-08-19 |
| NCT03575052 ↗ | A Safety Study of Pimavanserin in Adult and Elderly Subjects Experiencing Neuropsychiatric Symptoms Related to Neurodegenerative Disease Neuropsychiatric Symptoms Related to Neurodegenerative Disease | PHASE3 | Completed | 2022-05-06 |
| NCT04292223 ↗ | Open-Label Study With Pimavanserin on Activities of Daily Living in Subjects With Parkinson's Disease Psychosis Parkinson Disease Psychosis | PHASE4 | Completed | 2022-04-26 |
| NCT04855240 ↗ | Evaluate the Efficacy and Safety of ACP-044 for the Treatment of Acute Postoperative Pain Following Bunionectomy Acute Postoperative Pain, Bunionectomy | PHASE2 | Completed | 2022-02-11 |
| NCT04181723 ↗ | Study of Trofinetide for the Treatment of Girls and Women With Rett Syndrome (LAVENDER™) Rett Syndrome | PHASE3 | Completed | 2021-10-28 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (0)
Suppliers (1)
- Neuren
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-29 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-05-06 | ResultsExhibits | filing ↗ |
| 2026-05-01 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-03-05 | Exec/director change | filing ↗ |
| 2026-02-25 | ResultsExhibits | filing ↗ |
| 2026-01-13 | ResultsReg FDExhibits | filing ↗ |
| 2025-11-05 | ResultsExhibits | filing ↗ |
| 2025-11-03 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-29 | 2026-05-29 | 0001193125-26-248242 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001193125-26-209731 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001193125-26-209253 ↗ |
| 8-K | 2026-05-01 | 2026-04-27 | 0001193125-26-197957 ↗ |
| 8-K | 2026-03-05 | 2026-03-03 | 0001193125-26-092213 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001193125-26-072519 ↗ |
| 8-K | 2026-02-25 | 2026-02-25 | 0001193125-26-071674 ↗ |
| 8-K | 2026-01-13 | 2026-01-13 | 0001193125-26-011706 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001193125-25-267453 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001193125-25-266959 ↗ |
| 8-K | 2025-11-03 | 2025-10-28 | 0001193125-25-262610 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0000950170-25-104295 ↗ |