Acasti Pharma (NASDAQ:ACST) Shares Gap Down to $0.85

Acasti Pharma Inc (NASDAQ:ACST)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $0.79, but opened at $0.85. Acasti Pharma shares last traded at $0.80, with a volume of 4,143,770 shares traded.

ACST has been the subject of a number of research analyst reports. ValuEngine raised shares of Acasti Pharma from a “sell” rating to a “hold” rating in a research report on Tuesday. Echelon Wealth Partners reissued a “buy” rating and set a $4.00 target price on shares of Acasti Pharma in a research report on Wednesday, January 8th. Zacks Investment Research raised shares of Acasti Pharma from a “sell” rating to a “hold” rating in a research report on Tuesday. B. Riley lowered shares of Acasti Pharma from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a research report on Monday. Finally, Oppenheimer reaffirmed a “buy” rating and set a $7.00 price objective on shares of Acasti Pharma in a research report on Thursday, December 26th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Acasti Pharma has an average rating of “Buy” and a consensus price target of $4.75.

The company’s 50 day moving average price is $2.12 and its 200 day moving average price is $1.99. The firm has a market capitalization of $83.64 million, a P/E ratio of -1.13 and a beta of 1.53.

Acasti Pharma (NASDAQ:ACST) last released its quarterly earnings results on Wednesday, November 13th. The biopharmaceutical company reported ($0.08) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08). Sell-side analysts anticipate that Acasti Pharma Inc will post -0.38 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new position in shares of Acasti Pharma in the 3rd quarter valued at about $104,000. Sterling Investment Advisors Ltd. purchased a new stake in shares of Acasti Pharma during the 3rd quarter worth approximately $38,000. Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in shares of Acasti Pharma during the 3rd quarter worth approximately $95,000. Morgan Stanley raised its holdings in shares of Acasti Pharma by 20.6% during the 2nd quarter. Morgan Stanley now owns 45,687 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 7,789 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Acasti Pharma by 2.0% during the 2nd quarter. Bank of Montreal Can now owns 253,287 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 5,000 shares in the last quarter. 3.96% of the stock is currently owned by institutional investors and hedge funds.

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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