Miss ACAD's $12.50 Secondary But Think It's A Deal At $12?

Looking back to 112 days ago, Acadia Pharmaceuticals Inc (NASD: ACAD) priced a 8,000,000 share secondary stock offering at $12.50 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Wednesday, the stock is now 60.1% higher than the offering price.