Acasti Pharma Inc (NASDAQ:ACST) has received an average recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $7.25.
A number of equities analysts recently issued reports on ACST shares. B. Riley started coverage on shares of Acasti Pharma in a research report on Thursday, August 29th. They set a “buy” rating and a $7.75 target price on the stock. CIBC assumed coverage on Acasti Pharma in a research note on Thursday, July 18th. They issued an “outperform” rating and a $7.00 price objective on the stock. Aegis assumed coverage on Acasti Pharma in a report on Tuesday, July 9th. They issued a “buy” rating on the stock. Zacks Investment Research downgraded shares of Acasti Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, HC Wainwright restated a “buy” rating on shares of Acasti Pharma in a report on Thursday, August 15th.
Shares of ACST stock traded up $0.03 on Friday, hitting $2.19. The stock had a trading volume of 743,748 shares, compared to its average volume of 1,039,148. The company’s 50 day moving average price is $2.08 and its 200-day moving average price is $1.30. Acasti Pharma has a 1 year low of $0.52 and a 1 year high of $2.95. The firm has a market capitalization of $182.81 million, a P/E ratio of -3.08 and a beta of 1.35.
Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC bought a new stake in shares of Acasti Pharma in the 4th quarter worth about $40,000. Morgan Stanley grew its stake in Acasti Pharma by 20.6% in 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 grew its stake in Acasti Pharma by 2.0% in 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. 2.96% of the stock is currently owned by institutional investors and hedge funds.
Acasti Pharma Company Profile
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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