ACAD ACADIA Pharmaceuticals Inc. - Common Stock
$29.17
Price · Aug 18, 2026
Fundamentals as of Aug 5, 2026
52W Range
$20–$30
93% of range
Analyst Rating
BUY
27 analysts
Price Target
$34
+16% upside
P/E (TTM)
12.7
ROE
38.1%
Net Profit Margin
36.5%
About ACADIA Pharmaceuticals Inc. - Common Stock Company overview from Wikipedia
Acadia Pharmaceuticals Inc. is a biopharmaceutical company headquartered in Del Mar, California.
Read more
Acadia Pharmaceuticals Inc. is a biopharmaceutical company headquartered in Del Mar, California.
Product development
Nuplazid, a drug developed by Acadia in the late 1990s, "was designed to stimulate a subset of the brain’s serotonin receptors, or the proteins that govern memory, cognition and learning." On April 29, 2016, the FDA approved Acadia's drug, Nuplazid, for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis. Nuplazid is the trade name for Acadia's proprietary molecule, pimavanserin, a selective serotonin inverse agonist preferentially targeting 5-HT2a receptors. Acadia had partnered with Biovail in the late-stage clinical testing of the drug, which showed trial failures as of 2009.
Acadia is running multiple Phase 2 and Phase 3 trials with pimavanserin in several central nervous system conditions: dementia-related psychosis, major depressive disorder, schizophrenia inadequate response, and schizophrenia negative symptoms.
As of 1997, Acadia was among several companies that licensed compounds from Genzyme's small-molecule compound library.
In 2023, the FDA approved trofinetide (marketed as Daybue) for use in Rett syndrome.
History
Acadia started in 1993 as Receptor Technologies, based in Winooski, Vermont. In 1997, the company relocated all operations and management from Vermont to San Diego, California, as a strategic move to garner partnerships with other biotechnology companies. However, the company also had an office in Denmark, in which it received a crucial part of its early investments from BankInvest, under managing director Florian Schönharting, Kommunernes Pensionsforsikring A/S and Dansk Kapitalanlæg Aktieselskab as well as private investor Lars Christiansen. At the time, the company had fifty employees, fourteen of whom were in the Denmark office. The focus of the company in its early years was on genetic screens for receptors, aiming to accelerate early stage drug discovery.
The company planned to conduct an initial public offering (IPO) consisting of 31.6% of the company in 2001, with the intention of raising US$64 million and listing on the NASDAQ exchange under the symbol ACAD. At the time, Acadia and Allergan were collaborating on development of a treatment for glaucoma, and Allergan would retain a 6.3% ownership stake in Acadia after the IPO. However, the company's IPO, which ultimately took place in May 2004, did not fare as well as expected and netted only US$35 million. At the time, the company had five drugs in development and was running two in human trials. The company had a subsequent round of stock offering in May 2007 which raised US$102 million.
In September 2020, Acadia Pharmaceuticals acquired clinical-stage biotechnology company CerSci Therapeutics.
Corporate governance
In 2001, the company's chief executive officer at the time, Leonard R. Borrmann, left Acadia to lead Maret Pharmaceuticals. He was succeeded by Uli Hacksell, who left Acadia to lead Cerecor at the beginning of 2016.
== References ==
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
ACAD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$29.17
Market Cap
$4.97B
P/E (TTM)
12.7
EPS (TTM)
$2.30
Revenue (TTM)
$1.07B
Div Yield
—
ROE
38.1%
Debt/Equity
—
52W Range
$20 – $30
ACAD Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.07B
2016-12-31
→
2025-12-31
EPS
$2.30
2020-12-31
→
2025-12-31
Free Cash Flow
$105M
2016-12-31
→
2025-12-31
Margins
36.5%
2016-12-31
→
2023-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ACAD
Peer Median
P/E (TTM)
12.7
13.2
P/S (TTM)
4.6
55.3
P/B
4.0
3.5
Price / FCF
47.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ACAD
Peer Median
Operating Margin
9.8%
—
Net Profit Margin
36.5%
-151.2%
ROA
28.4%
-42.2%
ROE
38.1%
-52.8%
ROIC
24.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ACAD
Peer Median
Current Ratio
3.8
10.3
Quick Ratio
1.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ACAD
Peer Median
Revenue YoY
11.9%
—
Revenue CAGR 3Y
27.5%
—
Revenue CAGR 5Y
19.4%
—
EPS YoY
69.1%
—
Net Income YoY
72.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ACAD
Peer Median
ACAD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
27 analysts
- Strong Buy 7 25.9%
- Buy 14 51.9%
- Hold 5 18.5%
- Sell 1 3.7%
- Strong Sell 0 0.0%
12-Month Price Target
20 analysts · 2026-08-18
Median
$36.00
Now
$29.17
Low
$17.00
High
$49.00
Median target
$36.00
+23.4%
Mean target
$33.85
+16.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.30%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.18 | $0.06 | 0.12% |
| March 31, 2026 | $0.02 | $0.06 | -0.04% |
| Dec. 31, 2025 | $1.60 | $0.14 | 1.5% |
| Sept. 30, 2025 | $0.42 | $0.15 | 0.27% |
| June 30, 2025 | $0.16 | $0.14 | 0.02% |
| March 31, 2025 | $0.11 | $0.11 | -0.00% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ACAD | $4.55B | 11.6 | 11.9% | 36.5% | 38.1% | — |
| DNTH | $1.78B | -9.8 | -67.3% | -7973.3% | -40.8% | — |
| CAI | $7.62B | -8.4 | 97.0% | -8.4% | -13.2% | — |
| PTCT | $6.19B | 9.8 | 114.5% | 39.4% | -331.5% | — |
| TVTX | $3.47B | -131.8 | 110.5% | -5.2% | -34.6% | — |
| DYN | $3.23B | -5.6 | — | — | -57.8% | — |
| CELC | $4.81B | -26.3 | — | — | -244.3% | — |
| RLAY | $1.47B | -5.3 | 53.4% | -1800.6% | -44.9% | — |
| PBLS | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.07B | $958M | $726M | $517M | $484M | $442M | $339M | $224M | $125M | $17M | $61.0K | $120.0K | |
| Cost of Revenue | $89M | $82M | $42M | $10M | $19M | $10M | $11M | $12M | $9M | $3M | · | · | |
| Gross Profit | · | · | $685M | $507M | $473M | $432M | $328M | $211M | $116M | $14M | · | · | |
| R&D Expense | $329M | $303M | $352M | $362M | $239M | $319M | $240M | $187M | $149M | $99M | $74M | $61M | |
| SG&A Expense | $549M | $488M | $407M | $369M | $396M | $389M | $326M | $266M | $255M | $186M | $88M | $33M | |
| Operating Expenses | $967M | $727M | $800M | $741M | $655M | $728M | $586M | $471M | $417M | $290M | $165M | $93M | |
| Operating Income | $105M | $231M | $-73M | $-224M | $-170M | $-287M | $-247M | $-247M | $-292M | $-273M | $-165M | $-93M | |
| Other Non-op | $2M | $2M | $5M | $4M | $2M | $-997.0K | $997.0K | $-2M | · | · | · | · | |
| Pretax Income | $139M | $258M | $-51M | $-213M | $-168M | $-281M | $-234M | $-244M | $-288M | $-270M | $-164M | $-92M | |
| Income Tax | $-252M | $32M | $10M | $3M | $351.0K | $611.0K | $876.0K | $1M | $1M | $1M | $330.0K | $0 | |
| Net Income | $391M | $226M | $-61M | $-216M | $-168M | $-282M | $-235M | $-245M | $-289M | $-271M | $-164M | $-92M | |
| EPS (Basic) | $2.32 | $1.37 | $-0.37 | $-1.34 | $-1.05 | $-1.79 | · | · | · | · | · | · | |
| EPS (Diluted) | $2.30 | $1.36 | $-0.37 | $-1.34 | $-1.05 | $-1.79 | · | · | · | · | · | · | |
| Shares (Basic) | 168,356,000 | 165,717,000 | 163,819,000 | 161,683,000 | 160,493 | 157,331 | · | · | · | · | · | · | |
| Shares (Diluted) | 169,919,000 | 166,362,000 | 163,819,000 | 161,683,000 | 160,493 | 157,331 | · | · | · | · | · | · | |
| EBITDA | $105M | $231M | $-73M | $-224M | $-170M | $-287M | $-247M | $-247M | $-292M | $-273M | $-165M | $-93M |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $178M | $320M | $189M | $115M | $147M | $326M | $190M | $135M | $69M | $164M | $102M | $62M | |
| Receivables | $121M | $99M | $98M | $62M | $64M | $48M | $36M | $26M | $17M | $6M | · | · | |
| Inventory | $111M | $92M | $40M | $12M | $14M | $10M | $6M | $4M | $5M | $4M | · | · | |
| Prepaid Expense | $60M | $56M | $39M | $21M | $24M | $26M | $19M | $21M | $8M | $8M | $2M | $1M | |
| Current Assets | $1.06B | $938M | $616M | $508M | $618M | $718M | $760M | $526M | $373M | $548M | $219M | $325M | |
| PP&E (Net) | $8M | $4M | $5M | $6M | $8M | $9M | $3M | $3M | $3M | $3M | $2M | $553.0K | |
| PP&E (Gross) | $17M | $14M | $14M | $14M | $14M | $13M | $9M | $8M | $7M | $6M | $5M | $3M | |
| Accum. Depreciation | $9M | $10M | $10M | $8M | $6M | $4M | $5M | $4M | $4M | $3M | $3M | $2M | |
| Intangibles | $109M | $120M | $65M | $0 | $0 | $1M | $3M | $4M | $6M | $7M | · | · | |
| Other Non-current Assets | $4M | $359.0K | $476.0K | $8M | $4M | $2M | $3M | $2M | $354.0K | $785.0K | $329.0K | $287.0K | |
| Total Assets | $1.56B | $1.19B | $749M | $588M | $700M | $783M | $783M | $540M | $385M | $561M | $222M | $325M | |
| Accounts Payable | $11M | $16M | $18M | $13M | $7M | $8M | $7M | $3M | $9M | $4M | $2M | $2M | |
| Accrued Liabilities | $266M | $379M | $237M | $113M | $89M | $97M | $68M | $56M | $40M | $36M | $20M | $14M | |
| Current Liabilities | $277M | $395M | $254M | $126M | $96M | $106M | $75M | $60M | $49M | $43M | $22M | $16M | |
| Capital Leases | $41M | $42M | $48M | $53M | $56M | $44M | $6M | · | · | · | · | · | |
| Deferred Tax | $11M | $11M | $12M | $13M | $14M | $13M | $3M | · | · | · | · | · | |
| Other Non-current Liabilities | $19M | $18M | $15M | $9M | $7M | $5M | $3M | $2M | · | · | · | · | |
| Total Liabilities | $337M | $455M | $317M | $187M | $159M | $156M | $84M | $61M | $49M | $43M | $22M | $16M | |
| Common Stock | $16.0K | $16.0K | $16.0K | $16.0K | $16.0K | $16.0K | $15.0K | $14.0K | $12.0K | $12.0K | $10.0K | $10.0K | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | $1.45B | $862M | $808M | |
| Retained Earnings | $-1.81B | $-2.20B | $-2.43B | $-2.37B | $-2.15B | $-1.99B | $-1.70B | $-1.47B | $-1.22B | $-934M | $-663M | $-498M | |
| AOCI | $1M | $292.0K | $24.0K | $-975.0K | $-192.0K | $36.0K | $297.0K | $-372.0K | $-399.0K | $106.0K | $11.0K | $-9.0K | |
| Stockholders' Equity | $1.23B | $733M | $432M | $400M | $541M | $627M | $699M | $479M | $335M | $518M | $200M | $309M | |
| Liabilities + Equity | $1.56B | $1.19B | $749M | $588M | $700M | $783M | $783M | $540M | $385M | $561M | $222M | $325M | |
| Shares Outstanding | 170,309,376 | 166,708,856 | 164,650,219 | 162,064,872 | 161,012,695 | 159,637,771 | 155,275,300 | 143,853,597 | 124,410,552 | 121,367,169 | 101,938,702 | 100,047,331 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | · | · | · | $206.0K | |
| Stock-based Comp | $52M | $67M | $66M | $68M | $64M | $84M | $82M | $82M | $76M | $55M | $40M | $16M | |
| Deferred Tax | $-250M | $0 | $0 | $3M | $351.0K | · | · | · | · | · | · | · | |
| Amort. of Intangibles | $11M | $15M | $4M | $0 | $1M | $1M | $1M | $1M | $1M | $985.0K | $0 | $0 | |
| Operating Cash Flow | $110M | $158M | $17M | $-114M | $-126M | $-136M | $-151M | $-167M | $-218M | $-208M | $-122M | $-66M | |
| CapEx | $5M | $523.0K | $50.0K | $0 | $1M | $8M | $1M | $2M | $812.0K | $2M | $2M | $180.0K | |
| Investing Cash Flow | $-303M | $-31M | $32M | $73M | $-71M | $193M | $-166M | $-71M | $92M | $-262M | · | · | |
| Stock Issued | $50M | $7M | $25M | $8M | $18M | $81M | $372M | $307M | $31M | $519M | $15M | $204M | |
| Net Stock Activity | $50M | $7M | $25M | $8M | $18M | $81M | $372M | $307M | $31M | $519M | $15M | $204M | |
| Financing Cash Flow | $50M | $7M | $25M | $8M | $18M | $81M | $372M | $307M | $31M | $534M | · | · | |
| Net Change in Cash | $-143M | $134M | $74M | $-33M | $-179M | $137M | $55M | $68M | $-94M | $63M | $40M | $50M | |
| Taxes Paid | $25M | $20M | $6M | $2M | $1M | $1M | $2M | $1M | $1M | $-365.0K | $415.0K | · | |
| Free Cash Flow | $105M | $157M | $17M | $-114M | $-127M | $-144M | $-152M | $-170M | $-219M | $-212M | $-124M | $-67M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | 94.3% | 98.0% | 97.8% | 97.7% | 96.7% | 94.5% | 92.7% | 82.2% | · | · | |
| Operating Margin | 9.8% | 24.1% | -10.1% | -43.2% | -35.2% | -64.9% | -72.7% | -110.6% | -234.1% | -1574.1% | -269855.7% | -77691.7% | |
| Net Margin | 36.5% | 23.6% | -8.4% | -41.8% | -34.7% | -63.7% | -69.4% | -109.6% | -231.7% | -1565.9% | -269578.7% | -77062.5% | |
| Pretax Margin | 13.0% | 26.9% | -7.0% | -41.3% | -34.6% | -63.6% | -69.1% | -109.0% | -230.8% | -1558.2% | -269037.7% | · | |
| EBITDA Margin | 9.8% | 24.1% | -10.1% | -43.2% | -35.2% | -64.9% | -72.7% | -110.6% | -234.1% | -1574.1% | -269855.7% | -77691.7% | |
| ROA | 28.4% | 23.4% | -9.2% | -33.5% | -22.6% | -36.0% | -35.5% | -53.0% | -61.2% | -69.3% | -60.1% | -35.9% | |
| ROE | 38.1% | 34.6% | -15.4% | -52.3% | -30.3% | -43.9% | -33.9% | -69.8% | -67.8% | -75.6% | -64.6% | -37.6% | |
| ROIC | 24.0% | 27.6% | -20.4% | -56.5% | -31.6% | -45.8% | -35.4% | -51.9% | -87.5% | -52.9% | -82.6% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.8 | 2.4 | 2.4 | 4.0 | 6.4 | 6.8 | 10.2 | 8.8 | 7.6 | 12.9 | 10.0 | 20.5 | |
| Quick Ratio | 1.1 | 1.1 | 1.1 | 1.4 | 2.2 | 3.5 | 3.0 | 2.7 | 1.8 | 4.0 | 4.7 | 3.9 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.8 | 1.0 | 1.1 | 0.8 | 0.7 | 0.6 | 0.5 | 0.5 | 0.3 | 0.0 | 0.0 | 0.0 | |
| Inventory Turnover | 0.9 | 1.2 | 1.6 | 0.8 | 0.9 | 1.3 | 2.2 | · | 1.9 | 1.5 | · | · | |
| Receivables Turnover | 9.7 | 9.7 | 9.1 | 8.2 | 8.6 | 10.5 | 11.0 | 10.3 | 10.7 | 5.9 | · | · |
Growth Rates 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 11.9% | 31.9% | 40.5% | 6.8% | 9.6% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 27.5% | 25.5% | 18.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 19.4% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 69.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 72.7% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.07B | $958M | $726M | $517M | $484M | $442M | $339M | $224M | $125M | $17M | $61.0K | $120.0K | |
| Net Income TTM | $391M | $226M | $-61M | $-216M | $-168M | $-282M | $-235M | $-245M | $-289M | $-271M | $-164M | $-92M | |
| Market Cap | $4.55B | $3.06B | $5.16B | $2.58B | $3.76B | $8.53B | $6.64B | $2.33B | $3.75B | $3.50B | $3.63B | $3.18B | |
| P/E | 11.6 | 13.5 | -84.6 | -11.9 | -22.2 | -29.9 | · | · | · | · | · | · | |
| P/S | 4.2 | 3.2 | 7.1 | 5.0 | 7.8 | 19.3 | 19.6 | 10.4 | 30.0 | 202.0 | 59575.7 | 26470.9 | |
| P/B | 3.7 | 4.2 | 11.9 | 6.4 | 6.9 | 13.6 | 9.5 | 4.9 | 11.2 | 6.8 | 18.2 | 10.3 | |
| P / Tangible Book | 4.1 | 5.0 | 14.1 | 6.4 | 6.9 | 13.6 | · | · | · | · | · | · | |
| P / Cash Flow | 41.4 | 19.4 | 308.7 | -22.6 | -29.9 | -62.7 | -44.0 | -13.9 | -17.2 | -16.6 | -29.8 | -47.8 | |
| P / FCF | 43.3 | 19.5 | 309.6 | -22.6 | -29.6 | -59.4 | -43.6 | -13.7 | -17.1 | -16.5 | -29.3 | -47.7 | |
| Earnings Yield | 8.6% | 7.4% | -1.2% | -8.4% | -4.5% | -3.4% | · | · | · | · | · | · |
Income Statement 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $308M | $268M | $284M | $279M | $265M | $244M | $260M | $250M | $242M | $206M | $231M | $212M | $165M | $118M | $136M | $131M | |
| Cost of Revenue | $28M | $25M | $26M | $22M | $21M | $20M | $22M | $19M | $18M | $23M | $18M | $15M | $7M | $2M | $2M | $2M | |
| Gross Profit | · | · | · | · | · | · | · | · | · | · | $213M | $197M | $158M | $117M | $134M | $129M | |
| R&D Expense | $82M | $77M | $85M | $88M | $78M | $78M | $101M | $67M | $76M | $60M | $67M | $157M | $59M | $69M | $76M | $81M | |
| SG&A Expense | $160M | $171M | $156M | $133M | $134M | $126M | $130M | $133M | $117M | $108M | $111M | $98M | $96M | $101M | $104M | $78M | |
| Operating Expenses | $270M | $273M | $267M | $243M | $232M | $225M | $106M | $219M | $212M | $191M | $196M | $269M | $162M | $172M | $183M | $162M | |
| Operating Income | $38M | $-5M | $17M | $36M | $32M | $19M | $154M | $32M | $30M | $15M | $35M | $-58M | $3M | $-54M | $-46M | $-31M | |
| Other Non-op | $647.0K | $542.0K | $596.0K | $593.0K | $594.0K | $588.0K | $575.0K | $576.0K | $386.0K | $286.0K | $0 | $2M | $-1M | $5M | $2M | $2M | |
| Pretax Income | $46M | $4M | $26M | $45M | $40M | $28M | $161M | $39M | $37M | $21M | $40M | $-52M | $6M | $-45M | $-41M | $-26M | |
| Income Tax | $15M | $344.0K | $-247M | $-27M | $14M | $9M | $17M | $6M | $4M | $4M | $-6M | $13M | $5M | $-2M | $835.0K | $768.0K | |
| Net Income | $32M | $4M | $274M | $72M | $27M | $19M | $144M | $33M | $33M | $17M | $46M | $-65M | $1M | $-43M | $-42M | $-27M | |
| EPS (Basic) | $0.18 | $0.02 | $1.62 | $0.43 | $0.16 | $0.11 | $0.87 | $0.20 | $0.20 | $0.10 | $0.29 | $-0.40 | $0.01 | $-0.27 | $-0.26 | $-0.17 | |
| EPS (Diluted) | $0.18 | $0.02 | $1.61 | $0.42 | $0.16 | $0.11 | $0.86 | $0.20 | $0.20 | $0.10 | $0.29 | $-0.40 | $0.01 | $-0.27 | $-0.26 | $-0.17 | |
| Shares (Basic) | 171,603,000 | 170,517,000 | -335,115,000 | 168,836,000 | 167,827,000 | 166,808,000 | -330,606,000 | 165,974,000 | 165,551,000 | 164,798,000 | -326,136,000 | 164,234,000 | 163,458,000 | 162,263,000 | 128,494 | 161,852 | |
| Shares (Diluted) | 172,851,000 | 172,706,000 | -337,080,000 | 170,650,000 | 168,681,000 | 167,668,000 | -332,613,000 | 166,178,000 | 166,174,000 | 166,623,000 | -327,724,000 | 164,234,000 | 165,046,000 | 162,263,000 | 128,494 | 161,852 | |
| EBITDA | $38M | $-5M | · | $36M | $32M | $19M | · | $32M | $30M | $15M | · | $-58M | $3M | $-54M | · | $-31M |
Balance Sheet 24
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $385M | $282M | $178M | $258M | $254M | $218M | $320M | $155M | $177M | $205M | $189M | $98M | $108M | $291M | $115M | $155M | |
| Receivables | $151M | $135M | $121M | $116M | $108M | $106M | $99M | $98M | $104M | $95M | · | $93M | $82M | $66M | · | $56M | |
| Inventory | $109M | $112M | $111M | $106M | $111M | $103M | $92M | $87M | $86M | $67M | · | $25M | $14M | $11M | · | $12M | |
| Prepaid Expense | $69M | $65M | $60M | $61M | $53M | $53M | $56M | $52M | $46M | $43M | · | $38M | $24M | $24M | · | $23M | |
| Current Assets | $1.22B | $1.10B | $1.06B | $1.08B | $961M | $871M | $938M | $788M | $729M | $675M | · | $499M | $493M | $503M | · | $522M | |
| PP&E (Net) | $17M | $15M | $8M | $4M | $4M | $3M | $4M | $4M | $4M | $4M | · | $5M | $5M | $6M | · | $7M | |
| PP&E (Gross) | · | · | $17M | · | · | · | $14M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $9M | · | · | · | $10M | · | · | · | · | · | · | · | · | · | |
| Intangibles | $103M | $106M | $109M | $112M | $114M | $117M | $120M | $106M | $108M | $110M | · | $67M | $68M | $70M | · | · | |
| Other Non-current Assets | $4M | $4M | $4M | $3M | $2M | $1M | $359.0K | $359.0K | $476.0K | $476.0K | · | $475.0K | $11M | $12M | · | $6M | |
| Total Assets | $1.74B | $1.61B | $1.56B | $1.33B | $1.23B | $1.13B | $1.19B | $977M | $914M | $855M | · | $633M | $643M | $655M | · | $602M | |
| Accounts Payable | $45M | $12M | $11M | $22M | $20M | $18M | $16M | $19M | $20M | $19M | · | $12M | $19M | $17M | · | $10M | |
| Accrued Liabilities | $317M | $293M | $266M | $335M | $310M | $284M | $379M | $325M | $318M | $311M | · | $197M | $169M | $207M | · | $107M | |
| Current Liabilities | $361M | $306M | $277M | $357M | $330M | $303M | $395M | $344M | $338M | $331M | · | $210M | $188M | $224M | · | $117M | |
| Capital Leases | $60M | $39M | $41M | $43M | $45M | $45M | $42M | $40M | $47M | $49M | · | $48M | $50M | $51M | · | $54M | |
| Deferred Tax | · | · | $11M | · | · | · | $11M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $15M | $13M | $19M | $14M | $29M | $20M | $18M | $15M | $12M | $11M | · | $13M | $9M | $5M | · | $6M | |
| Total Liabilities | $436M | $357M | $337M | $413M | $403M | $367M | $455M | $400M | $397M | $391M | · | $270M | $247M | $281M | · | $177M | |
| Common Stock | $16.0K | $16.0K | $16.0K | $16.0K | $16.0K | $16.0K | $16.0K | $16.0K | $16.0K | $16.0K | · | $16.0K | $16.0K | $16.0K | · | $16.0K | |
| Retained Earnings | $-1.78B | $-1.81B | $-1.81B | $-2.09B | $-2.16B | $-2.19B | $-2.20B | $-2.35B | $-2.38B | $-2.41B | · | $-2.48B | $-2.41B | $-2.41B | · | $-2.33B | |
| AOCI | $-958.0K | $-563.0K | $1M | $989.0K | $406.0K | $437.0K | $292.0K | $858.0K | $-339.0K | $-229.0K | · | $-319.0K | $-535.0K | $-220.0K | · | $-1M | |
| Stockholders' Equity | $1.31B | $1.25B | $1.23B | $917M | $822M | $765M | $733M | $577M | $517M | $464M | $432M | $362M | $396M | $374M | $400M | $426M | |
| Liabilities + Equity | $1.74B | $1.61B | $1.56B | $1.33B | $1.23B | $1.13B | $1.19B | $977M | $914M | $855M | · | $633M | $643M | $655M | · | $602M | |
| Shares Outstanding | 172,132,442 | 171,086,205 | 170,309,376 | 169,146,043 | 168,607,881 | 167,116,045 | 166,708,856 | 166,351,715 | 165,853,301 | 164,959,736 | · | 163,968,949 | 163,355,787 | 162,384,178 | · | 161,871,806 |
Cash Flow 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $17M | $15M | $13M | $13M | $14M | $11M | $10M | $26M | $16M | $15M | $18M | $19M | $15M | $15M | $14M | $18M | |
| Amort. of Intangibles | $3M | $3M | $3M | $3M | $3M | $3M | $5M | $2M | $2M | $5M | $1M | $1M | $1M | $0 | $0 | $0 | |
| Operating Cash Flow | $101M | $34M | $-49M | $74M | $64M | $20M | $40M | $63M | $25M | $29M | $85M | $-59M | $8M | $-18M | $-24M | $-727.0K | |
| CapEx | $5M | $5M | $4M | $388.0K | $297.0K | $0 | $453.0K | $70.0K | · | · | $0 | · | · | · | $0 | $0 | |
| Investing Cash Flow | $-9M | $66M | $-56M | $-79M | $-43M | $-124M | $122M | $-82M | $-56M | $-14M | $-347.0K | $34M | $-194M | $193M | $-18M | $15M | |
| Stock Issued | $10M | $4M | $23M | $9M | $16M | $2M | $2M | $268.0K | $4M | $1M | $5M | $13M | $5M | $1M | $2M | $287.0K | |
| Net Stock Activity | · | $4M | · | · | · | $2M | · | · | · | $1M | · | · | · | $1M | · | · | |
| Financing Cash Flow | $10M | $4M | $23M | $9M | $16M | $2M | $2M | $268.0K | $4M | $1M | $5M | $13M | $5M | $1M | $2M | $287.0K | |
| Net Change in Cash | $103M | $105M | $-82M | $4M | $37M | $-102M | $164M | $-19M | $-28M | $16M | $90M | $-12M | $-181M | $176M | $-40M | $15M | |
| Free Cash Flow | · | $29M | · | · | · | · | · | · | · | · | · | · | · | · | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 12.3% | -1.7% | · | 12.8% | 12.2% | 7.9% | · | 12.6% | 12.6% | 7.4% | · | -27.3% | 1.8% | -45.2% | · | -23.6% | |
| Net Margin | 10.2% | 1.4% | · | 25.8% | 10.1% | 7.8% | · | 13.1% | 13.8% | 8.0% | · | -30.8% | 0.67% | -36.3% | · | -20.8% | |
| Pretax Margin | 15.1% | 1.5% | · | 16.0% | 15.2% | 11.4% | · | 15.5% | 15.4% | 10.2% | · | -24.6% | 3.8% | -37.9% | · | -20.2% | |
| EBITDA Margin | 12.3% | -1.7% | · | 12.8% | 12.2% | 7.9% | · | 12.6% | 12.6% | 7.4% | · | -27.3% | 1.8% | -45.2% | · | -23.6% | |
| ROA | 2.1% | 0.27% | · | 6.2% | 2.5% | 1.9% | · | 4.1% | 4.3% | 2.2% | · | -10.5% | 0.18% | -6.7% | · | -4.1% | |
| ROE | 3.0% | 0.36% | · | 9.6% | 4.0% | 3.1% | · | 7.0% | 7.3% | 4.0% | · | -16.6% | 0.27% | -10.5% | · | -5.5% | |
| ROIC | 2.0% | -0.34% | · | 6.3% | 2.6% | 1.7% | · | 4.6% | 5.3% | 2.6% | · | -19.9% | 0.13% | -13.7% | · | -7.5% |
Liquidity & Solvency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.4 | 3.6 | · | 3.0 | 2.9 | 2.9 | · | 2.3 | 2.2 | 2.0 | · | 2.4 | 2.6 | 2.2 | · | 4.5 | |
| Quick Ratio | 1.5 | 1.4 | · | 1.0 | 1.1 | 1.1 | · | 0.7 | 0.8 | 0.9 | · | 0.9 | 1.0 | 1.6 | · | 1.8 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.2 | · | 0.2 | |
| Inventory Turnover | 0.3 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.3 | 0.4 | 0.6 | · | 0.8 | 0.6 | 0.1 | · | 0.2 | |
| Receivables Turnover | 2.4 | 2.2 | · | 2.6 | 2.5 | 2.4 | · | 2.6 | 2.6 | 2.6 | · | 2.9 | 2.2 | 1.8 | · | 2.2 |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.12B | $1.06B | · | $1.04B | $1.00B | $943M | · | $929M | $891M | $814M | · | $632M | $551M | $520M | · | $512M | |
| Net Income TTM | $134M | $121M | · | $150M | $112M | $102M | · | $129M | $31M | $-2M | · | $-149M | $-111M | $-146M | · | $-217M | |
| Market Cap | $4.35B | $3.81B | · | $3.61B | $3.64B | $2.78B | · | $2.56B | $2.70B | $3.05B | · | $3.42B | $3.91B | $3.06B | · | $2.65B | |
| P/E | 32.4 | 31.4 | · | 24.0 | 32.2 | 27.2 | · | 19.7 | 90.3 | -1849.0 | · | -22.7 | -34.7 | -20.7 | · | -12.1 | |
| P/S | 3.9 | 3.6 | · | 3.5 | 3.6 | 2.9 | · | 2.8 | 3.0 | 3.7 | · | 5.4 | 7.1 | 5.9 | · | 5.2 | |
| P/B | 3.3 | 3.1 | · | 3.9 | 4.4 | 3.6 | · | 4.4 | 5.2 | 6.6 | · | 9.4 | 9.9 | 8.2 | · | 6.2 | |
| P / Tangible Book | 3.6 | 3.3 | · | 4.5 | 5.1 | 4.3 | · | 5.4 | 6.6 | 8.6 | · | 11.6 | 11.9 | 10.0 | · | 6.2 | |
| P / Cash Flow | · | 112.1 | · | · | · | 136.6 | · | · | · | 104.9 | · | · | · | -170.4 | · | · | |
| P / FCF | · | 132.4 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | 3.1% | 3.2% | · | 4.2% | 3.1% | 3.7% | · | 5.1% | 1.1% | -0.05% | · | -4.4% | -2.9% | -4.8% | · | -8.2% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $1.07B | $958M | $726M | $517M | $484M |
| Gross Margin % | — | — | 94.3% | 98.0% | 97.8% |
| Operating Margin % | 9.8% | 24.1% | -10.1% | -43.2% | -35.2% |
| Net Income | $391M | $226M | $-61M | $-216M | $-168M |
| Diluted EPS | $2.30 | $1.36 | $-0.37 | $-1.34 | $-1.05 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 3.8 | 2.4 | 2.4 | 4.0 | 6.4 |
| Quick Ratio | 1.1 | 1.1 | 1.1 | 1.4 | 2.2 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $105M | $157M | $17M | $-114M | $-127M |
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Institutional owners (13F) 387 filers · $3.2B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 56 (+10 vs prior Q) | 37 (+10 vs prior Q) | 136 (+11 vs prior Q) | 100 (-13 vs prior Q) | +17.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BAKER BROS. ADVISORS LP | $1,085,696,471 | 42,912,904 | 33.44% | Shares |
| STATE STREET CORP | $229,628,164 | 9,076,212 | 7.07% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $223,612,785 | 8,838,450 | 6.89% | Shares |
| RTW INVESTMENTS, LP | $180,756,457 | 7,144,524 | 5.57% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $145,822,875 | 5,763,750 | 4.49% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $88,971,384 | 3,516,656 | 2.74% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $73,088,127 | 2,888,204 | 2.25% | Shares |
| Qube Research & Technologies Ltd | $61,899,233 | 2,446,610 | 1.91% | Shares |
| Point72 Asset Management, L.P. | $61,559,150 | 2,433,168 | 1.90% | Shares |
| CITADEL ADVISORS LLC | $53,414,195 | 2,111,233 | 1.65% | Shares |
| Pictet Asset Management Holding SA | $50,146,450 | 1,983,198 | 1.54% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $49,826,959 | 1,969,445 | 1.53% | Shares |
| MARSHALL WACE, LLP | $44,649,289 | 1,764,794 | 1.38% | Shares |
| BRAIDWELL LP | $41,653,895 | 1,646,399 | 1.28% | Shares |
| NORGES BANK | $41,069,692 | 1,623,308 | 1.26% | Shares |
| Frazier Life Sciences Management, L.P. | $36,386,409 | 1,438,198 | 1.12% | Shares |
| Artisan Partners Limited Partnership | $33,525,890 | 1,325,134 | 1.03% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $32,449,679 | 1,282,596 | 1.00% | Shares |
| GOLDMAN SACHS GROUP INC | $32,070,584 | 1,267,612 | 0.99% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $30,520,301 | 1,206,336 | 0.94% | Shares |
| D. E. Shaw & Co., Inc. | $28,330,257 | 1,119,773 | 0.87% | Shares |
| Allspring Global Investments Holdings, LLC | $26,143,513 | 1,037,441 | 0.81% | Shares |
| TWO SIGMA INVESTMENTS, LP | $23,452,898 | 926,992 | 0.72% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $23,082,961 | 912,370 | 0.71% | Shares |
| BANK OF AMERICA CORP /DE/ | $21,702,062 | 857,789 | 0.67% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $17,985,922 | 710,906 | 0.55% | Shares |
| Fisher Asset Management, LLC | $17,690,535 | 699,230 | 0.54% | Shares |
| Allianz Asset Management GmbH | $15,730,341 | 706,664 | 0.48% | Shares |
| RICE HALL JAMES & ASSOCIATES, LLC | $15,657,841 | 618,887 | 0.48% | Shares |
| MILLENNIUM MANAGEMENT LLC | $14,925,077 | 589,924 | 0.46% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $14,771,456 | 583,852 | 0.45% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $12,903,000 | 510,000 | 0.40% | Shares |
| Hudson Bay Capital Management LP | $11,764,500 | 465,000 | 0.36% | Shares |
| GLENMEDE TRUST CO NA | $11,656,544 | 460,733 | 0.36% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $11,599,190 | 458,466 | 0.36% | Shares |
| Public Sector Pension Investment Board | $11,014,988 | 435,375 | 0.34% | Shares |
| MACKENZIE FINANCIAL CORP | $10,646,872 | 420,825 | 0.33% | Shares |
| Ishara Investments LP | $10,373,000 | 410,000 | 0.32% | Shares |
| TWO SIGMA ADVISERS, LP | $9,888,042 | 370,200 | 0.30% | Shares |
| Balyasny Asset Management L.P. | $9,817,007 | 388,024 | 0.30% | Shares |
| BlackRock, Inc. | $9,281,482 | 366,857 | 0.29% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $9,020,310 | 356,534 | 0.28% | Shares |
| AMERIPRISE FINANCIAL INC | $8,039,177 | 317,754 | 0.25% | Shares |
| PRUDENTIAL FINANCIAL INC | $7,985,313 | 315,625 | 0.25% | Shares |
| Alyeska Investment Group, L.P. | $7,850,261 | 310,287 | 0.24% | Shares |
| RHUMBLINE ADVISERS | $7,663,389 | 302,902 | 0.24% | Shares |
| Schonfeld Strategic Advisors LLC | $7,189,171 | 284,157 | 0.22% | Shares |
| Edgestream Partners, L.P. | $7,167,515 | 283,301 | 0.22% | Shares |
| Logos Global Management LP | $6,325,000 | 250,000 | 0.19% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $6,263,496 | 247,569 | 0.19% | Shares |
| FMR LLC | $6,052,317 | 239,222 | 0.19% | Shares |
| Swiss National Bank | $5,841,871 | 230,904 | 0.18% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $5,432,213 | 214,712 | 0.17% | Shares |
| ALPS ADVISORS INC | $4,985,340 | 197,049 | 0.15% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $4,926,239 | 194,713 | 0.15% | Shares |
| Legal & General Group Plc | $4,918,245 | 194,397 | 0.15% | Shares |
| FIRST TRUST ADVISORS LP | $4,664,965 | 184,386 | 0.14% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $4,364,807 | 172,522 | 0.13% | Shares |
| Birchview Capital, LP | $4,326,300 | 171,000 | 0.13% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $4,247,693 | 167,893 | 0.13% | Shares |
| Tetragon Partners GP Ltd | $4,247,238 | 167,875 | 0.13% | Shares |
| GREAT LAKES ADVISORS, LLC | $3,822,526 | 151,088 | 0.12% | Shares |
| AMERICAN CENTURY COMPANIES INC | $3,635,306 | 143,688 | 0.11% | Shares |
| STEMPOINT CAPITAL LP | $3,622,125 | 143,167 | 0.11% | Shares |
| ALLIANCEBERNSTEIN L.P. | $3,585,329 | 161,066 | 0.11% | Shares |
| Squarepoint Ops LLC | $3,542,329 | 140,013 | 0.11% | Shares |
| ORBIMED ADVISORS LLC | $3,466,100 | 137,000 | 0.11% | Shares |
| Erste Asset Management GmbH | $3,369,240 | 133,700 | 0.10% | Shares |
| Emerald Investment Advisers, LLC | $3,333,326 | 131,752 | 0.10% | Shares |
| Caption Management, LLC | $3,289,000 | 130,000 | 0.10% | Put option |
| VANGUARD ASSET MANAGEMENT, Ltd | $3,130,217 | 123,724 | 0.10% | Shares |
| WELLS FARGO & COMPANY/MN | $3,084,475 | 121,916 | 0.09% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $3,077,311 | 138,244 | 0.09% | Shares |
| Longaeva Partners L.P. | $2,968,145 | 117,318 | 0.09% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $2,948,791 | 116,553 | 0.09% | Shares |
| Trexquant Investment LP | $2,935,357 | 116,022 | 0.09% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $2,909,778 | 115,011 | 0.09% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $2,868,477 | 113,289 | 0.09% | Shares |
| Rafferty Asset Management, LLC | $2,789,426 | 110,254 | 0.09% | Shares |
| Nan Fung Group Holdings Ltd | $2,605,495 | 102,984 | 0.08% | Shares |
| RAYMOND JAMES FINANCIAL INC | $2,406,232 | 95,108 | 0.07% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $2,344,000 | 92,648 | 0.07% | Shares |
| ROYCE & ASSOCIATES LP | $2,324,691 | 91,885 | 0.07% | Shares |
| HOHIMER WEALTH MANAGEMENT, LLC | $2,322,540 | 91,800 | 0.07% | Shares |
| Point72 Europe (London) LLP | $2,305,047 | 108,015 | 0.07% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $2,134,076 | 79,898 | 0.07% | Shares |
| Campbell & CO Investment Adviser LLC | $2,108,527 | 83,341 | 0.06% | Shares |
| Verdad Advisers, LP | $2,090,514 | 82,629 | 0.06% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $2,072,576 | 81,920 | 0.06% | Shares |
| CITADEL ADVISORS LLC | $2,049,300 | 81,000 | 0.06% | Call option |
| GUGGENHEIM CAPITAL LLC | $1,979,776 | 78,252 | 0.06% | Shares |
| WESBANCO BANK INC | $1,978,460 | 78,200 | 0.06% | Shares |
| Phocas Financial Corp. | $1,954,299 | 77,245 | 0.06% | Shares |
| MetLife Investment Management, LLC | $1,899,043 | 75,061 | 0.06% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,850,493 | 73,142 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $1,788,331 | 70,685 | 0.06% | Shares |
| Freestone Grove Partners LP | $1,755,643 | 69,393 | 0.05% | Shares |
| CenterBook Partners LP | $1,743,878 | 68,928 | 0.05% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $1,722,930 | 68,100 | 0.05% | Shares |
| Illinois Municipal Retirement Fund | $1,693,380 | 66,932 | 0.05% | Shares |
Company insiders 37 insiders · 19 officers · 19 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Stephen Davis | CEO | Jan. 6, 2024 M | 96,521 | 0 | 0 | $0 |
| Uli Hacksell | CEO | March 25, 2011 A | 69,916 | 0 | 0 | $0 |
| Elena Ridloff | EVP and CFO | April 29, 2021 M | 10,553 | 0 | 0 | $0 |
| Todd S. Young | EVP AND CFO | Oct. 15, 2018 A | — | 0 | 0 | $0 |
| Thomas H Aasen | Exec. VP, CFO & CBO | March 25, 2011 A | 13,899 | 0 | 0 | $0 |
| Srdjan R. Stankovic | President | Nov. 21, 2022 M | 61,234 | 0 | 0 | $0 |
| Mark R Brann | President & CSO | June 16, 2006 S | 317,756 | 0 | 0 | $0 |
| Brendan Teehan | EVP, COO, Head of Commercial | Jan. 6, 2024 M | 30,949 | 0 | 0 | $0 |
| Elizabeth H.Z. Thompson | EVP, Head of Research & Dev | July 29, 2026 M | 18,994 | 0 | 2 | $-432,662 |
| James Kihara | PRINCIPAL ACCOUNTING OFFICER | June 26, 2026 S | 13,088 | 0 | 2 | $-412,253 |
| Austin D. Kim | EVP,General Counsel, Secretary | Jan. 6, 2024 M | 46,901 | 0 | 0 | $0 |
| Douglas J Williamson | Executive VP, Research & Dev | Feb. 10, 2023 A | — | 0 | 0 | $0 |
| Michael J. Yang | EVP and CCO | Jan. 6, 2021 M | 8,059 | 0 | 0 | $0 |
| Eric Alejandro Miller | Controller & PAO | Oct. 15, 2019 M | 270 | 0 | 0 | $0 |
| Glenn Baity | VP, GC & Sec. | March 25, 2011 A | — | 0 | 0 | $0 |
| Roger Mills | Executive VP, Development | March 25, 2011 A | — | 0 | 0 | $0 |
| Bo-Ragnar Tolf | VP/Mg. Dir. ACADIA Pharma AB | July 8, 2009 M | 20,000 | 0 | 0 | $0 |
| Brian Lundstrom | Sr. VP, Bus. Development | March 7, 2008 A | 0 | 0 | 0 | $0 |
| Robert E Davis | Exec. VP, Drug Discovery | March 11, 2005 A | — | 0 | 0 | $0 |
| Adora Ndu | Director | May 29, 2026 A | 32,908 | 0 | 0 | $0 |
| Elizabeth A. Garofalo | Director | May 29, 2026 A | 33,489 | 0 | 0 | $0 |
| Jonathan Poole | Director | May 29, 2026 A | 2,010 | 0 | 0 | $0 |
| James M Daly | Director | May 29, 2026 A | 12,148 | 0 | 0 | $0 |
| Laura Brege | Director | May 29, 2026 A | 23,202 | 0 | 0 | $0 |
| Edmund Harrigan | Director | May 29, 2026 A | 43,148 | 0 | 0 | $0 |
| Daniel B Soland | Director | June 1, 2023 A | 28,002 | 0 | 0 | $0 |
| Torsten Rasmussen | Director | June 11, 2010 A | 4,000 | 0 | 0 | $0 |
| Leslie L Iversen | Director | June 11, 2010 A | 9,000 | 0 | 0 | $0 |
| Mary Ann Gray | Director | June 11, 2010 A | — | 0 | 0 | $0 |
| Michael T Borer | Director | June 11, 2010 A | — | 0 | 0 | $0 |
| Lester J Ph D Kaplan | Director | June 11, 2010 A | 4,000 | 0 | 0 | $0 |
| Gordon M Binder | Director | June 12, 2009 A | 14,364 | 0 | 0 | $0 |
| Alan G Walton | Director | June 12, 2009 A | 25,979 | 0 | 0 | $0 |
| Martien Van Osch | Director | June 10, 2005 A | 1,168,892 | 0 | 0 | $0 |
| GORDON CARL L | Director | April 20, 2005 A | 774,006 | 0 | 0 | $0 |
| Mark C. Schneyer | — | Aug. 6, 2026 M | 67,828 | 0 | 3 | $-587,248 |
| John Joseph Kaiser | — | Oct. 20, 2008 A | — | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 6 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Baker Bros. Advisors LP, Baker Bros. Advisors (GP) LLC, Julian C. Baker, Felix J. Baker, FBB3 LLC ×14 filings | Feb. 26, 2026 | 25.40% | Amendment | — | SEC |
| Baker Bros. Advisors, LLC, Felix J. Baker, Julian C. Baker ×4 filings | June 6, 2013 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | May 2, 2005 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | May 2, 2005 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | May 2, 2005 | — | Initial filing | — | SEC |
| Oxford Bioscience Partners IV L.P., mRNA Fund II L.P., OBP Management IV L.P., Jeffrey T. Barnes, Mark P. Carthy, Jonathan J. Fleming, Michael E. Lytton, Alan G. Walton | April 29, 2005 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 77 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IBRN · iShares Trust | 4.89% | 13,265 SH | Aug. 8, 2026 | Daily |
| PBE · Invesco Exchange-Traded Fund Trust | 3.29% | 407,914 SH | Aug. 8, 2026 | Daily |
| SBIO · ALPS ETF Trust | 2.35% | 175,740 NS | May 31, 2026 | N-PORT |
| PSCH · Invesco Exchange-Traded Fund Trust … | 1.87% | 109,972 SH | Aug. 8, 2026 | Daily |
| BBP · ETFis Series Trust I | 1.32% | 34,855 NS | April 30, 2026 | N-PORT |
| RZG · Invesco Exchange-Traded Fund Trust | 1.25% | 59,514 SH | Aug. 8, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.85% | 195,542 NS | April 30, 2026 | N-PORT |
| ROSC · Lattice Strategies Trust | 0.56% | 13,607 NS | April 30, 2026 | N-PORT |
| IJT · iShares Trust | 0.40% | 1,176,933 SH | Aug. 8, 2026 | Daily |
| OASC · Unified Series Trust | 0.39% | 15,269 NS | May 31, 2026 | N-PORT |
| IBB · iShares Trust | 0.37% | 1,239,145 SH | Aug. 8, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.35% | 150,827 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.34% | 9,317 SH | Aug. 8, 2026 | Daily |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.27% | 61,606 NS | April 30, 2026 | N-PORT |
| BFOR · ALPS ETF Trust | 0.24% | 24,003 NS | May 31, 2026 | N-PORT |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.23% | 20,369 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.23% | 1,166,817 SH | Aug. 8, 2026 | Daily |
| XJR · iShares Trust | 0.23% | 14,974 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.20% | 89,945 NS | May 31, 2026 | N-PORT |
| IJR · iShares Trust | 0.20% | 7,728,433 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.19% | 137,860 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.19% | 6,303 NS | May 31, 2026 | N-PORT |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.17% | 443,221 SH | Aug. 8, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.17% | 6,035 NS | April 30, 2026 | N-PORT |
| SMMV · iShares Trust | 0.17% | 17,063 SH | Aug. 8, 2026 | Daily |
| SMLF · iShares Trust | 0.15% | 219,745 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.15% | 47,683 NS | April 30, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.14% | 137,072 SH | Aug. 8, 2026 | Daily |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.14% | 81,552 NS | April 30, 2026 | N-PORT |
| SAA · ProShares Trust | 0.12% | 1,498 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.12% | 3,281,125 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.11% | 39,884 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.10% | 741,237 SH | Aug. 8, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.09% | 66,331 SH | Aug. 8, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.09% | 1,699,377 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.09% | 115,210 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.08% | 526,641 NS | April 30, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.08% | 16,957 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.07% | 5,921 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.06% | 599,784 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.06% | 5,636 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.04% | 54,956 NS | April 30, 2026 | N-PORT |
| IEUS · iShares Trust | 0.04% | 7,411 SH | Aug. 8, 2026 | Daily |
| SMDX · Tidal Trust III | 0.04% | 2,306 NS | April 30, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.04% | 4,033 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.04% | 4,631 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.04% | 1,457,036 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.04% | 2,944,095 SH | Aug. 8, 2026 | Daily |
| PDN · Invesco Exchange-Traded Fund Trust … | 0.04% | 14,209 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.04% | 346,329 SH | Aug. 8, 2026 | Daily |