It has been about a month since the last earnings report for Acadia Pharmaceuticals (ACAD). Shares have lost about 3.7% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Acadia due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
ACAD Q1 Earnings & Revenues Miss Estimates Despite Y/Y Sales Growth
Acadiareported first-quarter 2026 earnings per share (EPS) of 2 cents, which missed the Zacks Consensus Estimate of 4 cents. In the year-ago quarter, the company had reported EPS of 11 cents.
In the first quarter, Acadia recorded total revenues of $268.1 million, which missed the Zacks Consensus Estimate of $282 million. ACAD’s net product revenues comprise sales of its two marketed products, Nuplazid (pimavanserin) and Daybue (trofinetide).
Total revenues increased 10% year over year, driven by contributions from Daybue and continued growth in Nuplazid's market share.
ACAD’s Q1 Earnings in Detail
Revenues from Nuplazid increased 5% year over year to $167 million in the first quarter of 2026, driven primarily by volume growth. Nuplazid sales missed the Zacks Consensus Estimate of $179.7 million.
Daybue recorded net product sales of $101 million in the reported quarter, up 20% year over year, driven by the growth in the drug’s unit sales as Acadia shipped to more unique patients. The reported figure, however, missed the Zacks Consensus Estimate of $105.6 million.
Research and development (R&D) expenses were $76.9 million, down 2% year over year.
Selling, general and administrative (SG&A) expenses were $171 million, up 35% year over year, due to increased marketing investments to support the continued growth of Nuplazid and Daybue.
Acadia had cash, cash equivalents and investments worth $851 million as of March 31, 2026, compared with $820 million as of Dec. 31, 2025.
ACAD Reaffirms 2026 Financial Outlook
Acadia continues to expect total revenues from the U.S. sales of its products to be in the range of $1.22-$1.28 billion in 2026. Nuplazid net product sales are expected to be in the range of $760-$790 million, while U.S. sales of Daybue are expected to be between $460 million and $490 million.
R&D expenses in 2026 are projected to be in the range of $385-$410 million, while SG&A expenses are expected to be between $660 million and $700 million.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -46.15% due to these changes.
VGM Scores
At this time, Acadia has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of C on the value side, putting it in the middle 20% for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Acadia has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry Player
Acadia is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Vertex Pharmaceuticals (VRTX), a stock from the same industry, has gained 3.9%. The company reported its results for the quarter ended March 2026 more than a month ago.
Vertex reported revenues of $2.99 billion in the last reported quarter, representing a year-over-year change of +7.8%. EPS of $4.47 for the same period compares with $4.06 a year ago.
Vertex is expected to post earnings of $4.79 per share for the current quarter, representing a year-over-year change of +6%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.6%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Vertex. Also, the stock has a VGM Score of C.
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ACADIA Pharmaceuticals Inc. (ACAD): Free Stock Analysis Report
Vertex Pharmaceuticals Incorporated (VRTX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).