Acadia Pharmaceuticals (NASDAQ:ACAD) crossed over its 10-day moving average of $2.47 on a volume of 36.8 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
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.
Acadia Pharmaceuticals (NASDAQ:ACAD) defies analysts with a current price ($5.71) 19.0% above its average consensus price target of $4.62. The stock should discover initial support at its 50-day moving average (MA) of $2.26 and subsequent support at its 200-day MA of $1.80.
In the past 52 weeks, shares of Acadia Pharmaceuticals have traded between a low of $0.93 and a high of $6.54 and are now at $5.71, which is 514% above that low price. The 200-day and 50-day moving averages have moved 0.72% higher and 1.34% higher over the past week, respectively.