ACADIA Pharmaceuticals Spikes Higher

Shares of ACADIA Pharmaceuticals ACAD are spiking higher this morning; currently, shares are higher by 8.73%, trading at $1.37. The stock has been consolidating above the $1.20 level since forming a high volume bottom on August 8th. Shares are now testing the 20-day moving average. If ACADIA Pharmaceuticals can breech and hold above the level, shares would be primed to test the 50-day and 200-day moving averages. Both are trading around $1.55. ACADIA Pharmaceuticals is currently oversold, though it only has 0.73% short interest. ACADIA Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of small molecule drugs for the treatment of central nervous system disorders.