Acadia slides as SA article paints grim picture

|By:, SA News Editor

Shares of Acadia Pharmaceuticals (ACAD -3.3%) are flagging and are now sitting at their lows of the day.

Earlier, SA contributor EnhydrisPECorp named ACAD a "healthcare stock to avoid" in 2014, saying the shares may "bleed all year long until the [pimavanserin] NDA filing in Q4."

Here's the simple rationale for the author's downbeat outlook: "Firstly, the company now has a market cap over $2B. Secondly, ACAD has no revenues. Thirdly, ACAD has mounting clinical trial costs."

Notably, EnhydrisPECorp recommended investors short Sarepta Therapeutics on October 30 — since then, the stock is down 54%.