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Acadia Surges as Canceled Events Lead to Deal Speculation

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Acadia Pharmaceuticals Inc. rose to its highest price ever after the company canceled two investor meetings, sparking speculation that a deal to buy the drugmaker could be in the works.

Acadia, which is developing drugs for Parkinson’s disease and other disorders of the central nervous system, rose 18 percent to $45.88 at the close in New York. It was the biggest one-day gain since April 2013 and the highest closing price since shares began trading in 2004.