Why Acadia Pharmaceuticals Stock Is Soaring Today
Already recovering from weakness suffered early this year, Acadia Pharmaceuticals (NASDAQ: ACAD) shares were outright catapulted higher today. Indeed, the pharmaceutical stock's 12.2% gain as of 12:17 p.m. ET Friday has pushed it back within sight of its 52-week high hit late last year.
The prompt for this bullishness? Unsurprisingly, encouraging news regarding one of its two approved drugs.
With a market cap of less than $5 billion, Acadia is anything but a pharmaceutical powerhouse. But, it's not trying to be one. Its focus is relatively narrow, aimed at underserved rare conditions like neurological disorder Rett syndrome, or psychosis stemming from Parkinson's disease and Alzheimer's.
Source Fool.com
