We’ve been up more than 4,000% on our ACADIA Pharmaceuticals positions…
In fact, we have liked and followed the stock for quite some time, recommending it at a low of $1.24 and $2.05 in 2010. It moved as high as $52.
That’s a potential profit of +4,094% and +2,437% respectively.
Over the last few weeks, the stock has pulled back on news of a $300 million stock offering. But there are no real fundamental changes in the company.
In fact, things are still red hot with two strong near-term catalysts… and a recent Buy rating from Bank of America for the stock. It was even upgraded in January 2016 from a Neutral rating to an Overweight rating by Piper Jaffray.
The smart money knows better than to get caught up in the sell-off on no real news. Even insiders are buying. Baker Brothers for example bought over $74 million of the common stock.
Here’s where things get even more exciting.
In March 2016, ACAD’s Parkinson’s disease Psychosis (PDP) drug will go before an FDA advisory committee to determine if it’s ripe for approval by the May 1, 2016 FDA decision date. Just to let you know, the FDA has a good history of following the advisory committee advice.
In my opinion, the drug, which meets a great, unmet medical need, could see approval… and be off to the races with a multi-billion dollar, life-changing solution for millions. Stay tuned. Things are getting exciting.