Acasti Pharma (NASDAQ:ACST) Shares Up 3.4%
Acasti Pharma Inc (NASDAQ:ACST)’s stock price rose 3.4% during trading on Monday . The company traded as high as $0.20 and last traded at $0.20. Approximately 3,701,108 shares changed hands during mid-day trading, an increase of 2% from the average daily volume of 3,612,353 shares. The stock had previously closed at $0.19.
Several research analysts have recently commented on the company. Aegis lowered Acasti Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Acasti Pharma in a research note on Friday, August 14th. Oppenheimer downgraded Acasti Pharma from an “outperform” rating to a “market perform” rating in a report on Monday, August 31st. Zacks Investment Research upgraded Acasti Pharma from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research note on Friday, August 14th. Finally, Echelon Wealth Partners reiterated a “buy” rating and issued a $1.40 target price on shares of Acasti Pharma in a research note on Tuesday, June 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Acasti Pharma has a consensus rating of “Buy” and an average price target of $2.47.
The company has a 50 day moving average price of $0.58 and a 200-day moving average price of $0.57. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.01.
A hedge fund recently raised its stake in Acasti Pharma stock. Oppenheimer & Co. Inc. raised its position in shares of Acasti Pharma Inc (NASDAQ:ACST) by 166.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 198,389 shares of the biopharmaceutical company’s stock after purchasing an additional 123,932 shares during the quarter. Oppenheimer & Co. Inc. owned about 0.22% of Acasti Pharma worth $75,000 as of its most recent SEC filing. Institutional investors and hedge funds own 2.93% of the company’s stock.
About Acasti Pharma (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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