We recently published a list of 10 Firms End 2024 Stronger With Impressive Gains. In this article, we are going to take a look at where ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) stands against other firms end 2024 stronger with impressive gains.
A lackluster trading persisted throughout the last day of the year, with Wall Street’s main indices ending the day mixed.
The Dow Jones Industrial Average dipped by 0.07 percent, the S&P 500 shed 0.43 percent, and the Nasdaq Composite declined by 0.90 percent. Meanwhile, NYSE Composite inched up by 0.10 percent and S&P Composite rose by 0.44 percent.
Despite the lack of catalysts to spark trading, 10 companies–predominantly in the biopharmaceuticals sector–posted impressive gains. Let’s explore the reasons behind their outstanding performance.
To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A research scientist looking through a microscope in a lab, symbolizing the biopharmaceutical company’s innovative approach to medical treatments.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)
Shares in ACADIA Pharmaceuticals (ACAD) increased by 9.95 percent on Wednesday, finishing the year higher at $18.35 apiece following news that it is set to join the S&P SmallCap 600 effective Friday, January 3, 2025, replacing Independent Bank Group Inc.
The S&P 600 is a stock market index tracking the performance of 600 small-cap companies in the US. It is designed to be a reliable benchmark for investors and traders and represents about 3 percent of the US market.
Year-to-date, however, registered a plunge of 40 percent from its valuation a year ago.
Acadia Pharmaceuticals (ACAD) is a biopharmaceutical company specializing in innovative treatments for central nervous system (CNS) disorders including Parkinson’s disease psychosis, Alzheimer ’s-related psychosis, schizophrenia, and Rett syndrome.
It owns NUPLAZID, an FDA-approved treatment for Parkinson’s psychosis. Acadia’s robust research and development pipeline focuses on the growing needs in neurology and psychiatry.
Overall, ACAD ranks 1st on our list of firms end 2024 stronger with impressive gains. While we acknowledge the potential of ACAD as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than ACAD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.