ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD)
ACADIA Pharmaceuticals was off to what seemed to be a relatively normal day in the market today. When the opening bell rang, the stock was trading slightly in the green. From there, we saw slow, yet steady gains. That is, until minutes ago, when the stock started to spike for the top. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to ACAD ahead.
What We’re Seeing From ACAD
As mentioned above, ACADIA Pharmaceuticals was having what seemed to be a normal day in today’s trading session. While the stock was in the green on the opening bell, it wasn’t up by much. From there, we saw slow movement in the upward direction, but nothing worth writing home about. Nonetheless, minutes ago, the stock started to soar. Currently (11:06), ACAD is trading at $29.84 per share after a gain of $1.07 per share (3.72%) thus far today.
Why The Stock Is Headed Upward
As usual, our partners at Trade Ideas were the first to notify us that ACAD was making a run for the top. As soon as we got the alert, the CNA Finance team went into action, looking for what was causing the movement. While we didn’t find anything fundamental that would lead to such gains, we did find an interesting rumor.
If you look into your favorite social network and search for ACADIA Pharmaceuticals, chances are that you’re going to see a rumor. The rumor is that Pfizer is interested in acquiring the company. Now, there has not been confirmation offered from either side just yet, so what we’re seeing at the moment is nothing more than a reaction to a rumor. Of course, if the rumor is true, it could be great for the stock.
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 interested in seeing if there is any validity to these rumors. After all, if the company is acquired, it would mean an incredible return of value for shareholders. We’ll keep an eye on the news and bring it to you as it breaks!
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