Acasti Pharma Inc. (NASDAQ:ACST) Receives Average Rating of “Buy” from Analysts

Shares of Acasti Pharma Inc. (NASDAQ:ACST) have been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $1.41.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Acasti Pharma from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research report on Friday, August 14th. Oppenheimer cut shares of Acasti Pharma from an “outperform” rating to a “market perform” rating in a research report on Monday, August 31st. HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Acasti Pharma in a research report on Friday, August 14th. Echelon Wealth Partners reiterated a “buy” rating and set a $1.40 price objective on shares of Acasti Pharma in a research report on Tuesday, June 30th. Finally, B. Riley lowered their price objective on shares of Acasti Pharma from $2.00 to $0.50 and set a “neutral” rating for the company in a research report on Tuesday, September 1st.

A hedge fund recently bought a new stake in Acasti Pharma stock. Virtu Financial LLC bought a new position in shares of Acasti Pharma Inc. (NASDAQ:ACST) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 252,405 shares of the biopharmaceutical company’s stock, valued at approximately $118,000. Virtu Financial LLC owned about 0.28% of Acasti Pharma at the end of the most recent reporting period. 2.93% of the stock is owned by institutional investors.

Shares of NASDAQ:ACST remained flat at $$0.20 during midday trading on Friday. 1,460,154 shares of the stock traded hands, compared to its average volume of 3,911,449. The stock has a fifty day moving average price of $0.25 and a 200-day moving average price of $0.54. The company has a market capitalization of $19.67 million, a P/E ratio of -0.63 and a beta of 1.89. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.01. Acasti Pharma has a one year low of $0.18 and a one year high of $3.08.

Acasti Pharma (NASDAQ:ACST) last issued its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. As a group, equities research analysts expect that Acasti Pharma will post -0.2 earnings per share for the current fiscal year.

About Acasti Pharma

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; and TRILOGY that is in Phase III to evaluate the safety and efficacy of CaPre in patients with sHTG.

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Analyst Recommendations for Acasti Pharma (NASDAQ:ACST)

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