ACADIA Pharmaceuticals

ACAD · NASDAQ

$20.44+$0.64 (+3.23%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $19.80

ACAD analyst rating

BuyConsensus of 18 analysts over the last 12 months. 72% rate it a buy.

Strong buy0
Buy13
Hold5
Underperform0
Sell0

12-month price target · 21 analysts

Average $32.70 (+60.0% upside)

Low: $17.17
Now: $20.44
High: $51.45

Upgrades and downgrades

The latest rating actions, newest first

ACAD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Oct 19, 2026	Maintains	Buy	$35.00	47%
UBS	Oct 13, 2026	Downgrade	Buy → Neutral	$49.00 → $23.00	56%
RBC Capital	Oct 8, 2026	Maintains	Outperform	$37.00 → $36.00	44%
Deutsche Bank	Sep 25, 2026	Maintains	Buy	$38.00 → $31.00	45%
HC Wainwright & Co.	Sep 25, 2026	Maintains	Buy	$37.00 → $33.00	16%
Citizens	Sep 25, 2026	Maintains	Market Outperform	$36.00 → $33.00	41%
BMO Capital	Sep 25, 2026	Maintains	Outperform	$36.00 → $34.00	54%
Needham	Sep 25, 2026	Maintains	Buy	$41.00 → $35.00	47%
Citigroup	Sep 24, 2026	Maintains	Buy	$40.00 → $33.00	42%
Needham	Sep 24, 2026	Maintains	Buy	$41.00	47%

The case for and against

Updated Oct 14, 2026

Bull case

Acadia Pharmaceuticals is supported by a durable commercial base in NUPLAZID and DAYBUE, both of which hold first-and-only positions in their approved indications and anchor cash-generating franchises in neurology and rare disease. The broader pipeline also supports a positive outlook, as remlifanserin showed efficacy signals in Alzheimer’s disease psychosis despite narrowly missing the primary endpoint, with nominal secondary endpoint significance and meaningful post hoc results in a subgroup of roughly 80% of patients with higher baseline severity. Importantly, its safety profile appeared improved versus pimavanserin, with no QT prolongation signal and low discontinuation rates of 2.4% for 60 mg and 2.6% for placebo, which strengthens confidence in the Phase 3 program and long-term pipeline value.

Bear case

Acadia Pharmaceuticals is facing a negative outlook because its ACP-204 Phase 2 data in Alzheimer's disease psychosis narrowly missed the primary SAPS-H+D endpoint, with the 60 mg dose showing only a 2.2-point placebo-adjusted benefit and a borderline p-value of 0.0603, while the 30 mg dose failed outright. The weak signal appears especially concerning given the 42% placebo response, which consumed most of the observed improvement and leaves uncertainty around Phase 3 powering, enrichment, and timelines, despite clean safety. More broadly, the company remains exposed to high CNS development failure risk, competitive pressure from larger biotech and pharma players, and reliance on NUPLAZID and DAYBUE to sustain commercialization.

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