Acadia Pharmaceuticals Inc. (ACAD) · Q2 2026 results and valuation

At 20.0% growth a year (3-year revenue growth), the model's fair value is $35.62 a share — the stock trades 48% below it. Today's price assumes 8.4% growth a year.

1. Guidance ↓

   ACAD lowered its R&D spend guidance to a range of $355 million to $380 million.

   Source quote

   “Lastly, on guidance, we are lowering our spend guidance for R&D and now expect R&D expenses in the range of $355 million to $380 million compared to the prior...”

2. Guidance

   Taken together, Acadia Pharmaceuticals now expects total 2026 revenue of $1.24 billion to $1.3 billion.

Script and answers carried a similar tone, so the script's message held up under questioning.

Sentences that drove the tone

“Since expanding the team, we have seen a significant increase in call activity and improve the depth and frequency of engagement with our highest priority customer segments.”

“The leading indicators we are seeing across the market, including growing disease awareness, increased patient engagement and rising new prescriptions gives us confidence in the near- and long-term trajectory for...”

“And for NUPLAZID, we expect stronger year-over-year growth in Q4 relative to Q3 due to the greater impact of the expanded field force expected later in the year.”