Acasti Pharma Inc (NASDAQ:ACST) traded down 6.4% on Friday . The company traded as low as $1.99 and last traded at $2.04, 1,467,942 shares were traded during trading. An increase of 47% from the average session volume of 999,347 shares. The stock had previously closed at $2.18.

A number of equities analysts have weighed in on the stock. Aegis assumed coverage on shares of Acasti Pharma in a research note on Tuesday, July 9th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Acasti Pharma from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research report on Tuesday, October 15th. 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. Finally, 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. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Acasti Pharma has an average rating of “Buy” and an average price target of $6.05.

The company has a market cap of $185.71 million, a P/E ratio of -2.87 and a beta of 1.29. The company’s 50-day moving average is $2.03 and its two-hundred day moving average is $1.48.

Acasti Pharma (NASDAQ:ACST) last announced its quarterly earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. Analysts predict that Acasti Pharma Inc will post -0.28 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can boosted its holdings in Acasti Pharma by 2.0% in the second 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 during the last quarter. Sterling Investment Advisors Ltd. purchased a new stake in Acasti Pharma in the third quarter worth approximately $38,000. Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in Acasti Pharma in the third quarter worth approximately $95,000. Finally, Morgan Stanley boosted its holdings in Acasti Pharma by 20.6% in the second quarter. Morgan Stanley now owns 45,687 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 7,789 shares during the last quarter. Institutional investors own 3.02% 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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