I gave my newborn baby name "Ishaq". This name is the name of one of our Prophet Ibrahim's (Peace be upon him) sons. Is this acceptable?

Praise be to Allah, the Lord of the World; and blessings and peace be upon our Prophet Muhammad and upon all his Family and Companions.
There is no harm to name your son Ishaq, as the Muslim scholars recommend naming the children after the Prophets. The Prophet Muhammad (Peace and blessing be upon him) named his son Ibrahim.
For more details, please refer to Fatwa: 82724.
Allah knows best.