ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD)
ACADIA Pharmaceuticals was off to a relatively normal day in the market today. At the open, the stock was trading slightly in the green. From there, it found it’s way to the red, then saw more movement in both directions, keeping it right around the breakeven point. However, the stock started to skyrocket minutes ago as chatter started to surface about a potential takeover. Below, we’ll talk about what we’re seeing from the stock, the potential takeover, 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 a relatively normal day in today’s trading session. The stock started the day in the green and saw plenty of movement in both directions. However, nothing was anything worth writing home about. Nonetheless, the stock started to spike in a big way minutes ago. At the moment (11:33), ACAD is trading at $3.02 per share after a gain of $1.79 per share (5.08%) thus far today.
Why The Stock Is Surging
As is normally the case, our partners at Trade Ideas were the first to alert us to the upward movement on ACAD. As soon as they did, the CNA Finance team started digging to see exactly what was causing the movement. It didn’t take long to dig up the story. While the company has not released any fundamental news that would lead to such gains, we are seeing quite a bit of chatter.
At the moment, there’s chatter surfacing that ACADIA Pharmaceuticals will be acquired. The stories suggest that AstraZeneca will be acquiring the company. There is also some alleged interest from Pfizer. However, it’s important to keep in mind that this is just chatter at the moment, there is no confirmation from either side of the coin just yet.
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 to see if these reports turn into reality and a takeover actually happens or not. If it does, tremendous value would be generated for shareholders. We’ll keep a close eye on the news and bring it to you as it breaks!
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