Boston, MA 06/11/2013 (wallstreetpr) – The share prices of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) had surged by 14.76 percent to close at $19.52 per share for the end of last trading session on Monday. The shares of the company had been trading in the range of $17.05 to $20.09 per share, thereby pushing the company to hit new 52 week high price level. The 52 week low price level of the shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is at $1.32 per share.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is primarily engaged in the development and commercialization of small molecule drugs to be used for the treatment of unmet medical needs in the neurological and related central nervous system disorders. The bio pharmaceutical company presently has four product candidates in its development line with the principal candidate being pimavanserin, which is presently in the Phase III of its development stage and is being developed as a first class treatment drug for Parkinson’s disease psychosis.
Further, ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) also has a product candidate for the treatment of chronic pains in the Phase II stage of development and a product candidate for the treatment of glaucoma in Phase I stage of development. Both these treatment drugs in the development stage are being researched by the company in company with Allergan Inc. In addition, ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) also holds a product candidate in Phase I stage of development for the treatment of schizophrenia, which is being developed in collaboration with Meiji Seika Pharma Company Limited.
The shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) had recently been surging to new high levels owing to increased hedge fund activity in the company. The shares witnessed a heavy trading volume at 15.23 million shares on Monday, while the average trading volume of the company is at 3.24 million shares per day.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) presently holds 79.16 million shares outstanding in the market with an institutional ownership of 75 percent of its holdings.
