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Acadia Pharmaceuticals Bullish Moving Average Crossover Alert (ACAD)

Published on Thu, 04/11/2013 - 11:13
By Mallory Stone

Today, shares of Acadia Pharmaceuticals (NASDAQ:ACAD) have crossed bullishly above their 10-day moving average of $8.23 on a volume of 17.6 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Acadia Pharmaceuticals (NASDAQ:ACAD) defies analysts with a current price ($11.89) 29.4% above its average consensus price target of $8.40. The stock should find initial support at its 50-day moving average (MA) of $6.69 and further support at its 200-day MA of $3.81.

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.

In the past 52 weeks, shares of Acadia Pharmaceuticals have traded between a low of $1.29 and a high of $11.90 and are now at $11.89, which is 822% above that low price. The 200-day and 50-day moving averages have moved 2.59% higher and 1.56% higher over the past week, respectively.

By Mallory Stone