Acadia Pharmaceuticals Inc. (NASDAQ: ACAD)
Acadia Pharmaceuticals wasn’t off to the best of days in today’s trading session. When the market opened, the stock was trading well into the red. While it made a push for the green, when it broke through the breakeven point, the stock quickly took a dive. Nonetheless, minutes ago, the stock went from red to green in a flash. Below, we’ll talk about what we’re seeing from ACAD, why, and what we’ll be watching for ahead.
What We’re Seeing From ACAD
As mentioned above, Acadia Pharmaceuticals wasn’t having the best of days in the market today. Unfortunately, the stock started the day in the red, and while it did make it to the green early on, it quickly fell back to losses. That is, until minutes ago when the stock started to soar. At the moment (1:32), ACAD is trading at $37.80 per share after a gain of $0.56 per share (1.51%) thus far today.
Why The Stock Is Soaring
Our partners at Trade Ideas were the first to alert us to the upward movement on ACAD, as is almost always the case. When we got the alert, the CNA Finance team started to work to see why the stock was making a run for the top. It didn’t take long to uncover the story. While the company hasn’t released any fundamental news that would lead to such gains, we did find the cause in social.
At the moment, regardless of which social network is your favorite, if you take to it and search for Acadia Pharmaceuticals, chances are that you will see an interesting rumor. The rumor is that the company is in talks to be acquired. According to the rumor, the company interested in buying ACAD is Johnson & Johnson.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ACAD. In particular, we’re watching for news associated with this potential acquisition. If it does happen, it could lead to a large return of value to shareholders. We’ll be watching the news closely and bringing it to you as it breaks!
Update: ACAD continues to soar. There has been no confirmation on either side regarding the ongoing rumor that Johnson & Johnson will be taking Acadia Pharmaceuticals over. At the moment (2:08), ACAD is trading at $39.12 per share after a gain of $1.88 per share (5.05%) thus far today. We will continue to watch the story closely and bring you updates as they break.
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