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Shares of the company closed at $3.41 Friday on Nasdaq. They had earlier touched a high of $3.75.
"The speculation appears to be related to results that are due in this quarter for Acadia's pivotal Phase III trial of pimavanserin," Jon Najarian, a founder of Web information site optionMonster.com, said.
The company declined to comment on the stock movement and reiterated that it would release the late-stage data in the third quarter.
Acadia is co-developing pimavanserin, which is currently being studied in two late-stage trials, with a unit of Biovail Corp (NYSE:BVF) for the treatment of Parkinson's disease psychosis (PDP).
In the options market, Acadia attracted a flurry of trading in the stock's call options, which give the right to buy the underlying shares at a fixed price within a specified time period.
In all, about 15,000 calls and 1,635 puts traded, on combined daily volume 19 times the norm, according to option analytics firm Trade Alert.
(Reporting by Doris Frankel in Chicago and Anand Basu in Bangalore; Editing by Anthony Kurian)
Biotech investors interested in seeing more details about these companies and a full list of their related stories can do so by typing the stock ticker symbol into the Stock Quotes box on the right side of the page.
Biovail Corporation (NYSE:BVF) announced it will host a conference call and webcast on Thursday, November 5, 2009 at 8:30a.m. for Company executives to discuss third-quarter 2009 financial and operational results.
avVaa World Health Care Products Inc. (OTC:AVVH), a global biotechnology company, manufacturer and distributor of nationally branded therapeuticnatural skin and health care products, announced their third Direct TV Media Test is scheduled to launch on Thursday October 29.Novavax, Inc. (Nasdaq:NVAX) a clinical-stage vaccine company, announced Fred W. Driscoll, VP and CFO, will be presenting at the 8th Annual BIO Investor Forum 2009 at 11:00 am local time on October 29, 2009 at the Palace Hotel in San Francisco, California.
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 Allergan, Inc. (NYSE:AGN) announced the United States District Court for the District of Delaware ruled in favor of Allergan, Inc. in its patent infringement suit against Exela PharmSci, Inc.Exelixis, Inc. (Nasdaq:EXEL) and Bristol-Myers Squibb Company (NYSE:BMY) reported updated phase 2 clinical data which show that XL184 demonstrated activity in patients with glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer.Columbia Laboratories, Inc. (Nasdaq:CBRX) announced it has priced a transaction to raise up to approximately $11,772,000 through the sale of up to approximately 10,900,000 shares of its common stock and warrants to purchase 5,450,000 shares of its common stock in a registered direct offering.Biovail Corporation (NYSE:BVF) announced it will host a conference call and webcast on Thursday, November 5, 2009 at 8:30a.m. for Company executives to discuss third-quarter 2009 financial and operational results. Lightlake Therapeutics Inc. (OTC:LLTP), a drug discovery company developing innovative solutions to combat the worldwide epidemic in obesity – a trillion dollar market - has appointed Dr Roger Crystal as CEO. Ferro Corporation (NYSE:FOE) announced it will conduct a conference call on Tuesday, October 27, at 10:00 a.m. Eastern Time to discuss financial results for the three months ended September 30, 2009 and factors which are expected to affect the Company's future performance.Mediware Information Systems, Inc. (NASDAQ:MEDW) announced the Blood Bank of Alaska is the latest major blood center to license LifeTrak®, the company's 510(k) cleared blood donor management software. Inhibitex, Inc. (Nasdaq:INHX) announced it has entered into definitive purchase agreements with institutional investors for the sale of approximately $23 million of its common stock, and warrants to purchase common stock, in a private placement.Advaxis, Inc., (OTC:ADXS), the live, attenuated Listeria monocytogenes (Lm) biotechnology company, has announced the appointment of Christopher Duignan to the role of senior vice president, Finance, working alongside Advaxis CFO Fredrick Cobb, effective immediately.
Lpath, Inc. (OTC:LPTN), the category leader in therapeutic agents against bioactive lipids, will present at the 2009 BIOCOM Investor Conference, which will be held October 26-27, 2009 at the Hyatt Regency La Jolla in San Diego, California.Osiris Therapeutics, Inc. (NASDAQ:OSIR) announced it will report its financial results for the quarter ended September 30, 2009, on Wednesday, November 4, 2009.Orthovita, Inc. (NASDAQ:VITA), an orthobiologics and biosurgery company, is pleased to announce Dr. Pierce D. Nunley, Director of the Spine Institute of Louisiana, will present his abstract, “A Comparison of Clinical Outcomes and Adjacent Level Fractures in Patients Receiving Vertebroplasty for Osteoporotic Compression Fractures Using CortossTM or PMMA: A Prospective, Randomized Trial,” at the 2009 Annual Meeting of the Congress of Neurological Surgeons (CNS).Angiotech Pharmaceuticals, Inc. (NASDAQ:ANPI), announced the commercial launch of the Tan EndoGlide(TM) Endothelium Insertion System in the United States.Unilife Medical Solutions Limited (OTC:UNIFF) announced its Chief Executive Officer Alan Shortall has made open market purchases of Company shares.Senetek PLC (OTC:SNKTY), a Life Sciences company engaged in the research, development and commercialization of technologies which target the science of healthy aging, announced it has engaged Miller Tabak + Co., LLC as exclusive financial advisor to assist the Board of Directors with a review of strategic options and development of a business plan to maximize the assets of the company.Escalon Medical Corp. (Nasdaq:ESMC) announced its Sonomed, Inc. subsidiary's introduction of the new PacScan(TM) Plus, an A-Scan with optional pachymeter.
Biovail Corporation (BVF) recently provided an update on its development plans for pimavanserin for Parkinson’s disease psychosis (PDP). The company is developing the candidate in collaboration with Acadia Pharmaceuticals, Inc. (ACAD) and stated that the partners remain committed towards the successful development of the candidate.
In early Sept. 2009, the companies had reported results from a [...]
On 10/14/09, Pressure BioSciences (NASDAQ: PBIO) announced that they have entered into a strategic co-marketing / sales, R&D agreement with Protein Forest, Inc. The companies intend to co-market their product lines through industry publications, at scientific meetings, on their respective websites, through common collaborator studies, and at key industry trade shows.
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Credit Suisse gave the Drug Delivery industry some good news as it announced an upgrade on one of its stocks.
Biovail Corporation (BVF) [Chart - News - Analysis] was upgraded from Neutral » Outperform on 9/13/2009---a positive sign for the stock that investors typically welcome. FYI, Credit Suisse uses the following rating scale when analyzing stocks: Outperform, Neutral, Underperform.
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Biovail Corporation has an average analyst recommendation score of 2.0 and competes for investment dollars with Hospira Inc. (HSP) [Chart - News - Analysis] and Elan Corp. plc (ELN) [Chart - News - Analysis]---two other stocks in the Drug Delivery industry that have average analyst recommendation scores of 2.1 and 2.7 respectively.
Analyst recommendations are averaged and scored using the following rating scale:
- 1.0 = Strong Buy
- 2.0 = Buy
- 3.0 = Hold
- 4.0 = Sell
- 5.0 = Strong Sell
Why are Upgrades and Initiations Good and Downgrades Bad?
One event that is almost certain to get a reaction from Wall Street is an analyst upgrade or downgrade. Everyone is looking for an edge in the stock market, and quite often, traders turn to stock analysts to get that edge.
Upgrades and coverage initiations are typically good for stocks because they show that analysts either believe that the stock is going to perform better in the future or that the stock is worth covering and providing analysis on.
Downgrades are typically bad for stocks because they show that analysts believe that the stock is going to perform worse in the future.
A stock analysts is a person---typically employed by a large bank, investment firm or analysis company---who devotes his/her life to learning and making predictions about a company and its future performance.
Stock analysts sift through company reports and filings, talk to company management, probe customers and competitors and basically do whatever they can to find out if a company is healthy and growing or sick and shrinking. Because this is incredibly demanding work, stock analysts typically only monitor one or two companies at a time.
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