Semanteon Capital Management LP Makes New $242,000 Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Semanteon Capital Management LP bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,177 shares of the biopharmaceutical company’s stock, valued at approximately $242,000.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $47,000. Quest Partners LLC boosted its stake in shares of ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares during the period. KBC Group NV boosted its stake in shares of ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 2,044 shares during the period. Globeflex Capital L P purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $168,000. Finally, Xponance Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $186,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ACAD shares. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Insiders Place Their Bets

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the transaction, the director now directly owns 17,595 shares of the company’s stock, valued at $320,756.85. The trade was a 21.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 6,167 shares of company stock valued at $114,583. 28.30% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Trading Down 2.3 %

ACAD stock opened at $16.79 on Friday. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $20.68. The company’s 50 day moving average is $18.37 and its two-hundred day moving average is $17.00. The stock has a market cap of $2.80 billion, a P/E ratio of 21.53 and a beta of 0.43.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.