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Shares of Acadia Pharmaceuticals Rise Above Previous 52-Week High

Published on Mon, 01/28/2013 - 15:11
By Peter Chu

Acadia Pharmaceuticals (NASDAQ:ACAD) traded at a new 52-week high today of $6.67. Approximately 6.4 million shares have changed hands today, as compared to an average 30-day volume of 2.1 million shares.

In the past 52 weeks, shares of Acadia Pharmaceuticals have traded between a low of $1.29 and a high of $6.67 and are now at $6.62, which is 413% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 7.0% while the 200-day MA has risen 3.4%.

Potential upside of 26.2% exists for Acadia Pharmaceuticals, based on a current level of $6.62 and analysts' average consensus price target of $8.36. The stock should discover initial support at its 50-day moving average (MA) of $4.48 and subsequent support at its 200-day MA of $2.48.

Acadia Pharmaceuticals Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. The company is currently working on the treatment of induced dysfunction in Parkinson's disease ,schizophrenia, neuropathic pain and glaucoma.

By Peter Chu