Acasti Pharma Inc (NASDAQ:ACST) Receives $4.19 Average PT from Brokerages
Acasti Pharma Inc (NASDAQ:ACST) has earned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $4.19.
A number of equities research analysts have issued reports on ACST shares. Oppenheimer reiterated a “buy” rating and issued a $7.00 target price on shares of Acasti Pharma in a research note on Wednesday, January 22nd. Zacks Investment Research cut Acasti Pharma from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. HC Wainwright cut their target price on Acasti Pharma from $6.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. ValuEngine upgraded shares of Acasti Pharma from a “hold” rating to a “buy” rating in a research note on Friday, March 13th. Finally, Aegis cut their price objective on shares of Acasti Pharma from $3.00 to $2.15 and set a “buy” rating on the stock in a research note on Wednesday, May 6th.
A number of institutional investors have recently modified their holdings of ACST. Captrust Financial Advisors bought a new stake in Acasti Pharma in the fourth quarter worth about $48,000. Schonfeld Strategic Advisors LLC purchased a new position in Acasti Pharma during the 4th quarter valued at about $71,000. Oppenheimer & Co. Inc. grew its stake in shares of Acasti Pharma by 166.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 198,389 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 123,932 shares in the last quarter. Huber Financial Advisors LLC acquired a new stake in Acasti Pharma in the 4th quarter worth approximately $98,000. Finally, Sargent Investment Group LLC acquired a new stake in Acasti Pharma in the 4th quarter worth approximately $154,000. Hedge funds and other institutional investors own 5.68% of the company’s stock.
Acasti Pharma (NASDAQ:ACST) last posted its earnings results on Friday, February 14th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). On average, research analysts predict that Acasti Pharma will post -0.34 EPS for the current year.
Acasti Pharma Company Profile
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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