U.S. markets continued to fall last Tuesday as the deadline for the U.S. government to raise the debt-ceiling loomed closer. "All of the sudden, you've got these question marks coming in from earnings reports and the government shutdown and you've got these portfolio managers saying, 'What is left here for me to keep my neck out? Why not take some profit?'" said Daniel Morgan, senior portfolio manager at Synovus Trust Company. Biotech stocks were amongst the biggest losers on the markets as investor’s began to cash out of sectors that have outperformed the broader markets this year. The NASDAQ fell 75.55, or 2.0 percent, to close at 3694.83. The iShares NASDAQ Biotechnology Index ETF (NASDAQ: IBB) dropped 4.37 percent, compared to the S&P 500’s loss of 1.23 percent.
ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) shares traded in the range of $22.30 to $27.62 last Tuesday before settling to close at $23.30, a decrease of 15.46 percent. The stock appears to be facing some resistance at the $24.71 and $25.53 levels with some support at $23.16. Shares of ACADIA Pharmaceuticals have gained approximately 400.0 percent in 2013.
More information on ACADIA Pharmaceuticals and access to the free equity report can be found at:
Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) shares traded in the range of $3.66 to $4.79 last Tuesday before settling to close at $3.99, a decrease of 16.18 percent. The stock appears to be facing some resistance at the $3.99 and $4.16 levels with some support at $3.71. Shares of Idenix Pharmaceuticals have gained approximately 18.0 percent in 2013.
More information on Idenix Pharmaceuticals and access to the free equity report can be found at:
Insys Therapeutics Inc. (NASDAQ: INSY) shares traded in the range of $40.17 to $53.64 last Tuesday before settling to close at $41.63, a decrease of 15.18 percent. The stock appears to be facing some resistance at $44.37 with some support at the $41.27 and $37.24 levels. Shares of Insys Therapeutics have gained approximately 435.0 percent in 2013.
More information on Insys Therapeutics and access to the free equity report can be found at:
NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) shares traded in the range of $30.50 to $35.02 last Tuesday before settling to close at $31.21, a decrease of 10.78 percent. The stock appears to be facing some resistance at the $32.92 and $36.68 levels with some support at $28.97. Shares of NPS Pharmaceuticals have gained approximately 240.0 percent in 2013.
More information on NPS Pharmaceuticals and access to the free equity report can be found at:
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