12 Best Medical Stocks To Buy Under $20

6. ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Share Price as of January 8: $17.60

Number of Hedge Fund Holders: 35

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is a biopharmaceutical company that is focused on developing innovative treatments for central nervous system (CNS) disorders. The company has made significant strides in addressing rare diseases, particularly with its FDA-approved therapies for Parkinson’s Disease Psychosis (PDP) and Rett Syndrome. ACAD ranks among the best medical stocks to buy according to hedge funds.

In the third quarter of 2024, ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) reported total revenues of $250.4 million, an 18% increase year-over-year. This growth was driven by strong sales of NUPLAZID, which generated $159.2 million, and DAYBUE, which contributed $91.2 million, up 36% year-over-year. These results reflect ACADIA Pharmaceuticals Inc.’s (NASDAQ:ACAD) successful commercialization strategies and the increasing demand for its products. The company’s flagship product, NUPLAZID, is the first and only treatment specifically approved for hallucinations and delusions associated with Parkinson’s disease psychosis. This unique positioning addresses a significant market. Additionally, in October, DAYBUE received marketing authorization from Health Canada for treating Rett syndrome, making it the first approved therapy for this condition in Canada.

On December 11, ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) completed the sale of its Rare Pediatric Disease Priority Review Voucher for $150 million. This financial boost is expected to support further research and development initiatives in CNS disorders and rare diseases.