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Shares of Accelrys Under Pressure, Down 1.8%

Published on Mon, 02/04/2013 - 11:40
By Peter Chu

Accelrys (NASDAQ:ACCL) is one of today's notable stocks in decline, down 1.8% to $9.29. The S&P is currently trading 0.7% lower to 1,503 and the Dow Jones Industrial Average is trading 0.8% lower to 13,900.

Accelrys Inc provides molecular modeling and simulation, bioinformatics, and cheminformatics software, and related services that facilitate the discovery and development of new drug and chemical products and processes in the pharmaceutical, biotechnology, chemical, petrochemical, and materials industries.

Potential upside of 22.9% exists for Accelrys, based on a current level of $9.29 and analysts' average consensus price target of $11.42. The stock should discover initial support at its 50-day moving average (MA) of $9.14 and subsequent support at its 200-day MA of $8.45.

Over the past year, Accelrys has traded in a range of $7.12 to $9.87 and is now at $9.29, 30% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.7%.

By Peter Chu