Overview

• Neurological drugmaker's Q1 revenue rose 10% yr/yr, driven by DAYBUE and NUPLAZID sales

• Q1 net income, EPS fell from prior year as SG&A expenses increased

• Company reaffirmed full-year 2026 revenue and product sales guidance

Outlook

• Acadia reaffirms 2026 total revenue guidance of $1.22-$1.28 bln

• Company expects 2026 NUPLAZID net product sales of $760-$790 mln

• Acadia sees 2026 DAYBUE net product sales of $460-$490 mln

Result Drivers

• DAYBUE SALES - Q1 revenue growth was driven by DAYBUE, which generated $101 mln in sales following a strong start and launch of DAYBUE STIX

• NUPLAZID DEMAND - NUPLAZID sales rose 6% yr/yr, supported by strong new referrals and underlying demand, with performance strengthening as the quarter progressed

• SG&A INVESTMENT - Higher selling, general and administrative expenses were primarily due to increased investments to support continued growth of NUPLAZID and DAYBUE

Company press release: ID:nBw6pgWnla

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Product Sales		$268.06 mln
Q1 EPS		$0.02
Q1 Net Income		$3.64 mln
Q1 Operating Expenses		$272.68 mln
Q1 Pretax Profit		$3.98 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for ACADIA Pharmaceuticals Inc is $32.00, about 43.2% above its May 5 closing price of $22.35

• The stock recently traded at 35 times the next 12-month earnings vs. a P/E of 33 three months ago

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