ACADIA Pharmaceuticals Inc
ACADHealthcare|Biotechnology|USA
$26.22
-0.19 (-0.72%)
DCF (FCF)
$4.73
Tangible Book
$6.67
Graham Number
$18.18
Earnings Power
$5.25
Financials
Financial Snapshot
Market Cap
$4.49B
Enterprise Value
$800.7M
Revenue (TTM)
$1.10B
Net Income (TTM)
$375.6M
Cash & Equivalents
—
Net Cash/Share
$2.89
Free Cash Flow (TTM)
$212.4M
Operating CF (TTM)
$123.5M
Debt/Equity
0.04
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $529.0M | $341.3M | $473.5M | $697.4M | $632.0M | $520.7M | $416.8M | $438.9M | $756.0M | $819.7M | $851.5M | |
| Operating Cash Flow | $-208.4M | $-217.8M | $-167.5M | $-151.1M | $-136.2M | $-125.7M | $-114.0M | $16.7M | $157.7M | $109.8M | $123.5M | |
| Free Cash Flow | $-217.9M | $-218.6M | $-169.6M | $-152.3M | $-143.8M | $-126.8M | $-114.0M | $16.7M | $157.2M | $105.1M | $212.4M | |
| Capital Expenditure | $-9.5M | $-812.0K | $-2.1M | $-1.1M | $-7.6M | $-1.1M | $0.00 | $-50.0K | $-523.0K | $-4.7M | $88.9M | |
| Financing Cash Flow | $533.8M | $31.2M | $306.6M | $371.8M | $81.0M | $18.2M | $8.2M | $25.1M | $6.8M | $49.9M | $52.3M |
R&D Spending
R&D (TTM)
$327.4M
R&D Intensity
29.9%
R&D Growth YoY
-0.4%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.3M | $124.9M | $223.8M | $339.1M | $441.8M | $484.1M | $517.2M | $726.4M | $957.8M | $1.07B | $1.10B | |
| R&D Expense | $99.3M | $149.2M | $187.2M | $240.4M | $319.1M | $239.4M | $361.6M | $351.6M | $303.2M | $328.8M | $327.4M | |
| R&D % of Revenue | 572.9% | 119.4% | 83.6% | 70.9% | 72.2% | 49.5% | 69.9% | 48.4% | 31.7% | 30.7% | 29.9% | |
| SG&A | $186.5M | $255.1M | $265.8M | $325.6M | $388.7M | $396.0M | $369.1M | $406.6M | $488.4M | $548.9M | $593.5M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.3M | $124.9M | $223.8M | $339.1M | $441.8M | $484.1M | $517.2M | $726.4M | $957.8M | $1.07B | $1.10B | |
| Cost of Goods Sold | $4.4M | $13.1M | $18.3M | $19.6M | $20.6M | $19.1M | $10.2M | $41.6M | $81.8M | $89.0M | $93.4M | |
| Gross Profit | $12.9M | $111.8M | $205.5M | $319.5M | $421.2M | $465.0M | $507.1M | $684.8M | $876.0M | $982.5M | $1.00B | |
| R&D | $99.3M | $149.2M | $187.2M | $240.4M | $319.1M | $239.4M | $361.6M | $351.6M | $303.2M | $328.8M | $327.4M | |
| SG&A | $186.5M | $255.1M | $265.8M | $325.6M | $388.7M | $396.0M | $369.1M | $406.6M | $488.4M | $548.9M | $593.5M | |
| Operating Income | $-272.8M | $-292.4M | $-247.4M | $-246.5M | $-286.6M | $-170.4M | $-223.6M | $-73.4M | $84.3M | $104.8M | $80.9M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-270.1M | $-288.3M | $-243.9M | $-234.4M | $-281.0M | $-167.5M | $-213.4M | $-51.0M | $258.1M | $138.9M | $115.1M | |
| Net Income | $-271.4M | $-289.4M | $-245.2M | $-235.3M | $-281.6M | $-167.9M | $-216.0M | $-61.3M | $226.5M | $391.0M | $375.6M | |
| EPS (Diluted) | -2.34 | -2.36 | -1.94 | -1.60 | -1.79 | -1.05 | -1.34 | -0.37 | 1.36 | 2.30 | 2.20 | |
| EBITDA | $-271.0M | $-289.7M | $-244.4M | $-243.8M | $-283.7M | $-167.1M | $-221.6M | $-67.8M | $100.2M | $116.6M | $92.7M | |
| Shares Out. (M) | 115.86 | 122.60 | 126.58 | 147.20 | 157.33 | 160.49 | 161.68 | 163.82 | 166.36 | 169.92 | 172.71 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $163.6M | $69.4M | $134.8M | $189.7M | $326.0M | $147.4M | $114.8M | $188.7M | $319.6M | $177.7M | $282.2M | |
| Marketable Securities | $365.4M | $271.9M | $338.8M | $507.7M | $305.9M | $373.3M | $302.0M | $250.2M | $436.4M | $642.0M | $569.2M | |
| Total Current Assets | $547.9M | $373.5M | $526.1M | $760.3M | $717.6M | $617.8M | $507.9M | $616.1M | $938.3M | $1.06B | $1.10B | |
| Total Assets | $561.2M | $384.5M | $540.2M | $783.2M | $782.6M | $700.1M | $587.8M | $749.0M | $1.19B | $1.56B | $1.61B | |
| Total Current Liabilities | $42.6M | $49.0M | $59.6M | $74.8M | $106.0M | $96.1M | $125.6M | $254.3M | $394.9M | $277.1M | $305.5M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $42.7M | $49.2M | $61.1M | $84.0M | $155.6M | $159.2M | $187.4M | $317.2M | $455.0M | $336.8M | $357.2M | |
| Stockholders' Equity | $518.4M | $335.3M | $479.1M | $699.1M | $627.0M | $540.9M | $400.4M | $431.8M | $732.8M | $1.23B | $1.25B | |
| Retained Earnings | $-934.0M | $-1.22B | $-1.47B | $-1.70B | $-1.99B | $-2.15B | $-2.37B | $-2.43B | $-2.20B | $-1.81B | $-1.81B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-208.4M | $-217.8M | $-167.5M | $-151.1M | $-136.2M | $-125.7M | $-114.0M | $16.7M | $157.7M | $109.8M | $123.5M | |
| Capital Expenditure | $-9.5M | $-812.0K | $-2.1M | $-1.1M | $-7.6M | $-1.1M | $0.00 | $-50.0K | $-523.0K | $-4.7M | $88.9M | |
| Free Cash Flow | $-217.9M | $-218.6M | $-169.6M | $-152.3M | $-143.8M | $-126.8M | $-114.0M | $16.7M | $157.2M | $105.1M | $212.4M | |
| Investing Cash Flow | $-261.9M | $92.5M | $-71.5M | $-165.8M | $192.5M | $-71.1M | $73.2M | $32.0M | $-30.5M | $-302.6M | $-112.2M | |
| Financing Cash Flow | $533.8M | $31.2M | $306.6M | $371.8M | $81.0M | $18.2M | $8.2M | $25.1M | $6.8M | $49.9M | $52.3M | |
| Issuance of Stock | $518.9M | $31.2M | $306.6M | $371.8M | $81.0M | $18.2M | $8.2M | $25.1M | $6.8M | $49.9M | $52.3M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $55.3M | $75.5M | $81.6M | $82.3M | $84.4M | $63.6M | $68.2M | $66.4M | $67.0M | $52.1M | $55.5M | |
| Net Change in Cash | $63.5M | $-94.1M | $67.7M | $54.9M | $137.3M | $-178.6M | $-32.6M | $73.8M | $133.9M | $-142.8M | $63.6M |
Dilution Tracker
Shares Outstanding
173M
5-Year Share Growth
+7.6%
Stock Issuance (TTM)
$52.3M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 115.86 | 122.60 | 126.58 | 147.20 | 157.33 | 160.49 | 161.68 | 163.82 | 166.36 | 169.92 | 172.71 | |
| YoY Change % | — | 5.8% | 3.2% | 16.3% | 6.9% | 2.0% | 0.7% | 1.3% | 1.6% | 2.1% | 1.6% | |
| Stock Issuance | $518.9M | $31.2M | $306.6M | $371.8M | $81.0M | $18.2M | $8.2M | $25.1M | $6.8M | $49.9M | $52.3M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $55.3M | $75.5M | $81.6M | $82.3M | $84.4M | $63.6M | $68.2M | $66.4M | $67.0M | $52.1M | $55.5M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 74.6% | 89.5% | 91.8% | 94.2% | 95.3% | 96.0% | 98.0% | 94.3% | 91.5% | 91.7% | 91.5% | |
| Operating Margin % | -1574.1% | -234.1% | -110.6% | -72.7% | -64.9% | -35.2% | -43.2% | -10.1% | 8.8% | 9.8% | 7.4% | |
| Net Margin % | -1565.9% | -231.7% | -109.6% | -69.4% | -63.7% | -34.7% | -41.8% | -8.4% | 23.6% | 36.5% | 34.3% | |
| EBITDA Margin % | -1563.6% | -231.9% | -109.2% | -71.9% | -64.2% | -34.5% | -42.8% | -9.3% | 10.5% | 10.9% | 8.5% | |
| FCF Margin % | -1257.4% | -175.0% | -75.8% | -44.9% | -32.5% | -26.2% | -22.0% | 2.3% | 16.4% | 9.8% | 19.4% | |
| ROE % | -75.6% | -67.8% | -60.2% | -39.9% | -42.5% | -28.7% | -45.9% | -14.7% | 38.9% | 39.9% | 37.7% | |
| ROA % | -69.3% | -61.2% | -53.0% | -35.6% | -36.0% | -22.6% | -33.5% | -9.2% | 23.4% | 28.4% | 27.4% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)11.92
Historical9.00 / 14.97 / 106.33
Industry Med.27.41
P/S4.10
Historical2.44 / 8.46 / 37040.00
Industry Med.9.51
P/B3.59
Historical2.86 / 7.56 / 15.13
Industry Med.2.93
EV/EBITDA39.79
Historical-68.07 / -11.45 / 426.76
Industry Med.13.14
EV/Revenue3.37
Historical1.83 / 7.69 / 24104.29
Industry Med.8.71
P/FCF21.06
Historical11.71 / 38.81 / 309.49
Industry Med.27.54
Intrinsic Value Models
DCF (FCF Based)
$4.73
Tangible Book
$6.67
Net Current Assets
$4.320
Graham Number
$18.18
Median P/S Value
$54.62
Net-Net Working Capital
$3.57
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | 13.49 | 11.61 | 11.92 | |
| PS Ratio | 192.27 | 29.55 | 9.15 | 18.57 | 19.04 | 7.74 | 4.98 | 7.06 | 3.19 | 4.24 | 4.10 | |
| PB Ratio | 6.75 | 11.17 | 4.86 | 9.50 | 13.61 | 6.95 | 6.44 | 11.94 | 4.17 | 3.71 | 3.59 | |
| EV/EBITDA | -10.96 | -11.75 | -7.58 | -24.43 | -28.03 | -19.76 | -10.04 | -70.38 | 23.51 | 32.44 | 39.79 | |
| EV/Revenue | 171.44 | 27.26 | 8.28 | 17.56 | 18.00 | 6.82 | 4.30 | 6.57 | 2.46 | 3.53 | 3.37 |
Analyst Estimates & Quality
Altman Z-Score
7.47
Safe
Piotroski F-Score
5
Moderate
Beneish M-Score
-1.16
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $1,241M | $1,394M | $1,577M |
| Net Income | $66M | $153M | $280M |
| EPS | 0.40 | 0.79 | 1.51 |
| Book Value per Share | 7.63 | 8.79 | 10.57 |
| Operating Cash Flow per Share | 0.83 | 1.09 | 2.33 |
| Operating CF | $143.00M | $188.94M | $401.97M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| NUPLAZID | $680.1M |
| DAYBUE | $391.4M |
By Geography
| Segment | 2025 |
|---|---|
| North America | $1.07B |