Article : ACAD WILL CONTINUE TO RISE- Drug Looks Set For APPROVAL ((( link )))
Seeking Alpha - 3/26/13 - By: Matthew Smith - Stocks Making moves
Shareholders in Acadia Pharmaceuticals (ACAD) saw shares rise strongly again on Monday as more positive comments trickled out from the analyst community. Shares rose $0.74 (9.78%) to close at $8.31/share on volume of 7.9 million shares after an analyst at Jefferies, Thomas Wei, reiterated his 'Buy' rating on the stock and the $13/share price target he has on it. They think that the drug gets approval and after speaking to the medical community they feel that the results really were as good as they were perceived to be. As we said last week, this is a story which will continue to get better and can be traded moving forward.. We should see a continued rise as the company's drug looks set for approval.