Should Acadia, Alkermes Shares be at the Top of Your Buy List?

Shares of Acadia Pharmaceuticals (ACAD) popped over 25% this week after an FDA panel voted in favor of approving its drug for Parkinson's disease psychosis.
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Shares of Acadia Pharmaceuticals (ACAD) - Get Report popped over 25 percent this week after an FDA panel voted in favor of approving its drug for Parkinson's disease psychosis. Despite the pop, the company's stock still trades at nearly half of where it was last summer. Michael Kramer, portfolio manager at Mott Capital at Covestor, says the corner has been turned and it could soon regain those heights with a potentially favorable outcome from the FDA in early May. Kramer added that the shares could see an additional surge because 'a lot of people got short the stock ahead of this panel thinking it would ultimately not get a favorable outcome.' Kramer is also bullish on Alkermes (ALKS) - Get Report , which saw its stock halved in January when its depression drug disappointed in a trial.