Zacks Investment Research Lowers Acasti Pharma (NASDAQ:ACST) to Hold

Zacks Investment Research lowered shares of Acasti Pharma (NASDAQ:ACST) from a buy rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Acasti Pharma Inc. is a biopharmaceutical company. It is focused on research, development and commercialization of krill oil based forms of omega-3 phospholipid therapies. CaPre (R), Acasti’s only prescription drug candidate, is being developed to help prevent and treat hypertriglyceridemia. ONEMIA (R) is a medical food and currently Acasti’s only commercialized product. Acasti Pharma Inc. is headquartered in Laval, Canada. “

A number of other equities analysts have also issued reports on ACST. HC Wainwright assumed coverage on shares of Acasti Pharma in a research report on Wednesday, June 26th. They set a buy rating and a $6.00 price target for the company. CIBC assumed 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. ValuEngine lowered shares of Acasti Pharma from a buy rating to a hold rating in a research report on Thursday, August 1st. Oppenheimer 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. Finally, Aegis started coverage on shares of Acasti Pharma in a report on Tuesday, July 9th. They set a buy rating for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Acasti Pharma has a consensus rating of Buy and a consensus price target of $5.25.

ACST opened at $2.09 on Tuesday. Acasti Pharma has a 12-month low of $0.43 and a 12-month high of $2.95. The stock’s 50 day simple moving average is $1.71.

Acasti Pharma (NASDAQ:ACST) last posted its quarterly earnings results on Wednesday, June 26th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). As a group, equities analysts predict that Acasti Pharma will post -0.28 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Acasti Pharma stock. Geode Capital Management LLC bought a new stake in shares of Acasti Pharma Inc (NASDAQ:ACST) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 48,665 shares of the biopharmaceutical company’s stock, valued at approximately $40,000. Geode Capital Management LLC owned approximately 0.06% of Acasti Pharma at the end of the most recent reporting period. Institutional investors own 3.12% of the company’s stock.

About Acasti Pharma

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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