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Reasons to Add Acadia (ACAD) Stock to Your Portfolio Now
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San Diego, CA-based Acadia Pharmaceuticals Inc. (ACAD - Free Report) is a commercial biopharmaceutical company engaged in developing innovative medicines to address various central nervous system disorders. ACAD currently looks like a good stock from the biotech sector to invest in.
Acadia’s lead product, Nuplazid (pimavanserin) is an FDA-approved treatment for hallucinations and delusions associated with Parkinson’s disease psychosis.
Acadia’s second product, Daybue (trofinetide) was approved by the FDA in March 2023 for the treatment of Rett syndrome in adult and pediatric patients two years of age and older.
Acadia’s top line currently comprises revenues from two of its marketed products, Nuplazid and the newly-approved, Daybue.
Here are some reasons why investors should consider betting on Acadia stock.
The bottom line estimate for Acadia has narrowed from a loss of 41 cents per share to 40 cents per share for 2023 over the past 60 days. The stock has surged 46.9% so far this year against the industry’s decline of 18.9%.
Image Source: Zacks Investment Research
Nuplazid Sales Drive Growth: Sales of Nuplazid have improved steadily since its launch in 2016. Nuplazid’s net sales in the first half of 2023 were $260.5 million, reflecting an increase of 4.2% year over year. The drug has witnessed continued demand over the years.
Pimavanserin Label Expansion Program Holds Promise: Several label expansion studies on pimavanserin targeting different types of neurological and psychiatric disorders are presently ongoing.
Acadia is currently evaluating pimavanserin in the phase III ADVANCE-2 study for treating negative symptoms of schizophrenia. Enrollment in the study is now complete, with top-line data from the same expected in the first quarter of 2024.
A potential approval of the expanded indication of pimavanserin will further boost the drug’s sales and drive the stock.
Daybue Approval Provides a Boost: Acadia’s second drug, Daybue, was launched in the United States market around mid-April.
The incremental stream of revenues from Daybue sales is expected to reduce the burden on Nuplazid sales for revenues while driving growth simultaneously.
Pipeline Beyond Nuplazid Holds Promise: We are also encouraged by Acadia’s efforts to expand its portfolio beyond Nuplazid.The company has added a new study candidate to its rare disease portfolio, ACP-101, which is set to be evaluated in a pivotal phase III study for hyperphagia associated with Prader-Willi Syndrome.
Acadia is also developing ACP-204 as a potential treatment for Alzheimer’s disease psychosis. The successful development and potential approval of these candidates will diversify Acadia’s portfolio of marketed products and drive the top line further.
With a sound cash position, two marketed products and a promising pipeline, investor focus remains on ACAD stock.
In the past 30 days, loss per share estimates for ASLAN Pharmaceuticals’ 2023 have been stable at $3.01. During the same period, the loss estimates per share for 2024 have remained unchanged at $3.63. Year to date, shares of ASLN have declined 17.8%.
Earnings of ASLAN Pharmaceuticals beat estimates in two of the last four quarters and missed the same on the other two occasions. ASLN delivered a four-quarter average earnings surprise of 9.16%.
In the past 30 days, estimates for Sarepta’s 2023 loss per share have improved from $9.21 to $9.19. During the same period, the loss per share estimates for 2024 have narrowed from $1.46 to $1. Year to date, shares of SRPT have lost 5%.
Earnings of Sarepta Therapeutics beat estimates in three of the trailing four quarters and missed the mark on the other occasion. On average, SRPT delivered a negative earnings surprise of 5.15% in the last four quarters.
In the past 30 days, estimates for Nurix Therapeutics’ 2023 loss per share have been stable at $2.55. During the same period, the loss estimates per share for 2024 have remained unchanged at $3.37. Year to date, shares of NRIX have declined 41.1%.
Earnings of Nurix Therapeutics beat estimates in three of the trailing four quarters and missed the mark on the other occasion. NRIX came up with an average four-quarter earnings surprise of 6.60%.
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Reasons to Add Acadia (ACAD) Stock to Your Portfolio Now
San Diego, CA-based Acadia Pharmaceuticals Inc. (ACAD - Free Report) is a commercial biopharmaceutical company engaged in developing innovative medicines to address various central nervous system disorders. ACAD currently looks like a good stock from the biotech sector to invest in.
Acadia’s lead product, Nuplazid (pimavanserin) is an FDA-approved treatment for hallucinations and delusions associated with Parkinson’s disease psychosis.
Acadia’s second product, Daybue (trofinetide) was approved by the FDA in March 2023 for the treatment of Rett syndrome in adult and pediatric patients two years of age and older.
Acadia’s top line currently comprises revenues from two of its marketed products, Nuplazid and the newly-approved, Daybue.
Here are some reasons why investors should consider betting on Acadia stock.
Good Rank and Rising Estimates: Acadia currently has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line estimate for Acadia has narrowed from a loss of 41 cents per share to 40 cents per share for 2023 over the past 60 days. The stock has surged 46.9% so far this year against the industry’s decline of 18.9%.
Image Source: Zacks Investment Research
Nuplazid Sales Drive Growth: Sales of Nuplazid have improved steadily since its launch in 2016. Nuplazid’s net sales in the first half of 2023 were $260.5 million, reflecting an increase of 4.2% year over year. The drug has witnessed continued demand over the years.
Pimavanserin Label Expansion Program Holds Promise: Several label expansion studies on pimavanserin targeting different types of neurological and psychiatric disorders are presently ongoing.
Acadia is currently evaluating pimavanserin in the phase III ADVANCE-2 study for treating negative symptoms of schizophrenia. Enrollment in the study is now complete, with top-line data from the same expected in the first quarter of 2024.
A potential approval of the expanded indication of pimavanserin will further boost the drug’s sales and drive the stock.
Daybue Approval Provides a Boost: Acadia’s second drug, Daybue, was launched in the United States market around mid-April.
The incremental stream of revenues from Daybue sales is expected to reduce the burden on Nuplazid sales for revenues while driving growth simultaneously.
Pipeline Beyond Nuplazid Holds Promise: We are also encouraged by Acadia’s efforts to expand its portfolio beyond Nuplazid.The company has added a new study candidate to its rare disease portfolio, ACP-101, which is set to be evaluated in a pivotal phase III study for hyperphagia associated with Prader-Willi Syndrome.
Acadia is also developing ACP-204 as a potential treatment for Alzheimer’s disease psychosis. The successful development and potential approval of these candidates will diversify Acadia’s portfolio of marketed products and drive the top line further.
With a sound cash position, two marketed products and a promising pipeline, investor focus remains on ACAD stock.
Other Stocks to Consider
Some other stocks in the biotech sector include ASLAN Pharmaceuticals Limited (ASLN - Free Report) , Sarepta Therapeutics, Inc. (SRPT - Free Report) and Nurix Therapeutics, Inc. (NRIX - Free Report) , sporting a Zacks Rank #1 each. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 30 days, loss per share estimates for ASLAN Pharmaceuticals’ 2023 have been stable at $3.01. During the same period, the loss estimates per share for 2024 have remained unchanged at $3.63. Year to date, shares of ASLN have declined 17.8%.
Earnings of ASLAN Pharmaceuticals beat estimates in two of the last four quarters and missed the same on the other two occasions. ASLN delivered a four-quarter average earnings surprise of 9.16%.
In the past 30 days, estimates for Sarepta’s 2023 loss per share have improved from $9.21 to $9.19. During the same period, the loss per share estimates for 2024 have narrowed from $1.46 to $1. Year to date, shares of SRPT have lost 5%.
Earnings of Sarepta Therapeutics beat estimates in three of the trailing four quarters and missed the mark on the other occasion. On average, SRPT delivered a negative earnings surprise of 5.15% in the last four quarters.
In the past 30 days, estimates for Nurix Therapeutics’ 2023 loss per share have been stable at $2.55. During the same period, the loss estimates per share for 2024 have remained unchanged at $3.37. Year to date, shares of NRIX have declined 41.1%.
Earnings of Nurix Therapeutics beat estimates in three of the trailing four quarters and missed the mark on the other occasion. NRIX came up with an average four-quarter earnings surprise of 6.60%.