Bank of America upgrades Acadia Pharmaceuticals to Buy after stock pullback improves risk-reward profile

Bank of America upgraded Acadia Pharmaceuticals from Neutral to Buy, citing a 25% stock decline driven by macro factors rather than company fundamentals. The upgrade highlights Acadia's Parkinson’s drug Nuplazid, which provides stable sales and patent protection through 2038, as a valuation floor. The bank also sees upside potential in Acadia's pipeline, especially the next-gen drug remlifanserin for Alzheimer’s psychosis, with a key Phase 2 readout expected later this year. Risks include slower Nuplazid growth and negative pipeline data, but recent commercial team expansion may boost sales in H2 2026.