Acasti Pharma (NASDAQ:ACST) Trading Down 3.9%
Acasti Pharma Inc (NASDAQ:ACST) shares were down 3.9% on Thursday . The stock traded as low as $1.98 and last traded at $1.98, approximately 58,756 shares were traded during trading. A decline of 93% from the average daily volume of 892,172 shares. The stock had previously closed at $2.06.
Several equities research analysts have weighed in on ACST shares. HC Wainwright reissued a “buy” rating on shares of Acasti Pharma in a research report on Thursday, August 15th. CIBC started coverage on shares of Acasti Pharma in a research report on Thursday, July 18th. They set an “outperform” rating and a $7.00 price target for the company. B. Riley started coverage on shares of Acasti Pharma in a research report on Thursday, August 29th. They set a “buy” rating and a $7.75 price target for the company. ValuEngine cut shares of Acasti Pharma from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, Zacks Investment Research cut shares of Acasti Pharma from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $6.05.
The firm has a market capitalization of $155.92 million, a P/E ratio of -2.75 and a beta of 1.36. The company’s fifty day simple moving average is $1.98 and its 200 day simple moving average is $1.61.
Hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Investment Advisors Ltd. bought a new position in Acasti Pharma in the 3rd quarter worth $38,000. Morgan Stanley raised its holdings in Acasti Pharma by 20.6% in the 2nd quarter. Morgan Stanley now owns 45,687 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 7,789 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. bought a new position in Acasti Pharma in the 3rd quarter worth $95,000. Oppenheimer & Co. Inc. bought a new position in Acasti Pharma in the 3rd quarter worth $104,000. Finally, Bank of Montreal Can raised its holdings in Acasti Pharma by 2.0% in the 2nd quarter. Bank of Montreal Can now owns 253,287 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 3.12% of the company’s stock.
Acasti Pharma Company Profile (NASDAQ:ACST)
Acasti Pharma Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of prescription drugs for the treatment of cardiovascular diseases. Its lead product candidate is CaPre, an omega-3 phospholipid therapeutic that is in Phase III clinical trial to treat patients with hypertriglyceridemia.
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