Today’s Research Reports on Trending Tickers: ACADIA Pharmaceuticals and Clovis Oncology
U.S. markets fell Wednesday after the Federal Reserve raised interest rates and hinted at more increases were coming in 2018. The Dow Jones Industrial Average dropped 0.47 percent to close at 25,201.20, while the S&P 500 Index fell 0.40 percent to close at 2,775.63. The Nasdaq Composite Index declined 0.11 percent to close at 7,695.70. On Wednesday, the Federal Reserve raised its benchmark short-term interest rate by 0.25 percent.
"I think the market is quite rightly globing on to the view that this is a more hawkish tone," said Eric Lascelles, chief economist at RBC Global Asset Management, according to CNBC. "On the economic side, notwithstanding a middling start to the year, second-quarter economic growth is tracking for 4 percent. While that’s probably not sustainable … all of the economic checkpoints are reading quite strong."
RDI Initiates Coverage on:
ACADIA Pharmaceuticals Inc.
Clovis Oncology, Inc.
ACADIA Pharmaceuticals’ stock moved 8.43% lower Wednesday, to close the day at $16.18. The stock recorded a trading volume of 5,283,123 shares, which was above its three months average volume of 2,933,517 shares. In the last year, ACADIA Pharmaceuticals’ shares have traded in a range of 14.51 – 41.20. The share price has gained 11.51% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $17.60 is below its 200-day moving average of $24.48. Shares of ACADIA Pharmaceuticals have fallen roughly 12.78 percent in the past month and are down 46.26 percent year-to-date.
Access RDI’s ACADIA Pharmaceuticals Inc. Research Report at:
On Wednesday, shares of Clovis Oncology recorded a trading volume of 1,688,157 shares, which was above the three months average volume of 1,256,467 shares. The stock ended the day 7.06% higher at $45.03. The share price has fallen 54.72% from its 52 week high with a 52 week trading range of 41.31 – 99.45. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $46.82 is below its 200-day moving average of $55.74. Shares of Clovis Oncology have fallen roughly 12.03 percent in the past month and are down 33.78 percent year-to-date.
Access RDI’s Clovis Oncology, Inc. Research Report at:
Our Actionable Research on ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) and Clovis Oncology, Inc. (NASDAQ:CLVS) can be downloaded free of charge at Research Driven Investing.
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