Acasti Pharma Inc (NASDAQ:ACST) gapped down prior to trading on Tuesday after HC Wainwright lowered their price target on the stock from $6.00 to $3.00. The stock had previously closed at $0.59, but opened at $0.57. HC Wainwright currently has a buy rating on the stock. Acasti Pharma shares last traded at $0.54, with a volume of 74,569 shares.
ACST has been the topic of several other research reports. ValuEngine raised shares of Acasti Pharma from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Zacks Investment Research raised Acasti Pharma from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th. Oppenheimer reaffirmed a “buy” rating and set a $7.00 price target on shares of Acasti Pharma in a research report on Wednesday, January 22nd. B. Riley lowered Acasti Pharma from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a report on Monday, January 13th. Finally, Echelon Wealth Partners reissued a “buy” rating and issued a $4.00 price objective on shares of Acasti Pharma in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Acasti Pharma currently has a consensus rating of “Buy” and a consensus price target of $4.25.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley raised its position 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 acquiring an additional 7,789 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Acasti Pharma by 35.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 74,457 shares of the biopharmaceutical company’s stock valued at $182,000 after acquiring an additional 19,298 shares during the last quarter. J. L. Bainbridge & Co. Inc. boosted its stake in Acasti Pharma by 45.3% in the fourth quarter. J. L. Bainbridge & Co. Inc. now owns 64,125 shares of the biopharmaceutical company’s stock valued at $157,000 after acquiring an additional 20,000 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Acasti Pharma during the 4th quarter valued at approximately $48,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Acasti Pharma during the 4th quarter valued at approximately $71,000. Institutional investors own 4.15% of the company’s stock.
The company’s 50 day moving average price is $1.16 and its 200-day moving average price is $1.83. The company has a market cap of $51.21 million, a PE ratio of -0.84 and a beta of 1.63.
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.
