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Buyers Accumulating Shares of Acadia Pharmaceuticals on 3.0x Above-Average Volume (ACAD)

Published on Mon, 03/25/2013 - 13:09
By Robert Cotter

Shares of Acadia Pharmaceuticals are trading today in above average volume, with the share price rising 9.4% to $8.28. About 5.9 million shares have been traded today, as compared to the 30-day average volume of 1.9 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

There is potential upside of 1.4% for shares of Acadia Pharmaceuticals based on a current price of $8.28 and an average consensus analyst price target of $8.40. The stock should find initial support at its 50-day moving average (MA) of $6.14 and further support at its 200-day MA of $3.42.

In the past 52 weeks, shares of Acadia Pharmaceuticals have traded between a low of $1.29 and a high of $8.81 and are now at $8.28, which is 542% above that low price. The 200-day and 50-day moving averages have moved 4.33% higher and 3.64% higher over the past week, respectively.

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 Robert Cotter