If it's good enough to attract 78% institutional ownership, that's quite a show of support...a very promising drug, plenty of cash and little competition. Whether you buy 10 shares or 1000 shared or more, it's a great pharmaceutical choice for one's portfolio. Could easily see this at $25-30 a year from now.
However, the reason for delay could be a big deal. The filing was due today and they have five days to file,meaning this action was planned all along. If you read the report in Edgar, it clearly states that they will file within five days of original due date. That's why they chose 5/20 as the date of the earnings announcement.
The move to Indiana is a cost cutting measure. Companies cut costs when revenues not high enough. Again, would not touch this until after earnings announcement.
Give it up. It's a momentum stock right now. Smart money pouring in. Volume should tell you a lot about where it's heading.
The public offering news was supposed to #$%$ investors and drive this down. I thought it could fall today but the company responded right away with the offering price. Now, there is even more talk about big pharmaceutical buying Acadia. Stock price could be around $30 in a year. Who wouldn't want to invest?
They hinted at quarterly sales at $1M. In 2011, they had at least a $5M quarter. They are nowhere near their best quarter. You think the Italians are going to come through? India has already bilked them out of millions.
Retail investors often get crushed for the reasons you stated. Better off waiting until the sell-off. Unfortunately, this is now a trading stock as the locusts have arrived and will only leave once the stock has been decimated.
Why all the optimism? The company saw its revenue drop from $21M in 2011 to less than $1M in 2012. At end of 2012, it only had $183,000 in cash.
On 5/15/12 the company said that the reason for decrease in revenue was due to past-due receivables, about $8.6 M owed. Well, if you read the next three quarterly reports that money was never collected. Looks like it was a write-off.
High cash burn, inability to collect money...there's a reason why this is only a 2 cent stock. Irrational exuberance may move this higher for the next week, but many of you will be holding the bag when the traders
are done and this moves below sub penny. Seen it happen too many times to similar companies.
Disagree...right now they are more concerned about remaining listed...mgmt knows they are in a tough spot
Earnings will not surprise..wait to buy when hits .017. New orders will be minimal and the company will talk about the fact that they have stuff in the pipeline...No definitive buyers or timelines. Irrational exuberance in full force today not anything concrete.
Today's catalyst revealed. Buyout target news puts ACAD out in front within biotech sector. Still has to rise more than 50% to reach $20. It easily exceeds $13 tomorrow--maybe gets as high as $15 before pullback.
Saw that, too. That addition could be the next catalyst to move into $14-15 range. Good entry point right now.
While you continue to watch the paint dry on VRNG, you should check out CLRX. They are partnering with other biotechs and are worth some due diligence. Not a great trading stock due to low volume but this can move fast to the upside for a quick profitable trade.
No surprises yesterday so some traders locked in profits today and moved on. The catalyst in the short term, if there is one, is institutional buying and/or analyst upgrades. But it may be a few weeks before the overall market pulls back and investors rotate to biotech companies like ACAD. Any rise in pps is likely to be relatively small but could approach $13.00. Only positive, surprising news will move this into $15-16 range and a steady course laid out by management will keep share price stable.