Zacks: Acasti Pharma Inc (NASDAQ:ACST) Given Average Rating of “Buy” by Analysts

Acasti Pharma Inc (NASDAQ:ACST) has earned an average broker rating score of 1.58 (Buy) from the four analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company.

Analysts have set a 12 month consensus price target of $4.23 for the company and are predicting that the company will post ($0.11) earnings per share for the current quarter, according to Zacks. Zacks has also given Acasti Pharma an industry rank of 150 out of 256 based on the ratings given to related companies.

Several brokerages have issued reports on ACST. Zacks Investment Research upgraded shares of Acasti Pharma from a “hold” rating to a “buy” rating and set a $1.00 target price on the stock in a report on Friday, June 7th. HC Wainwright began coverage on shares of Acasti Pharma in a report on Wednesday. They set a “buy” rating and a $6.00 target price on the stock. Finally, ValuEngine upgraded shares of Acasti Pharma from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th.

Acasti Pharma stock traded up $0.05 during midday trading on Friday, hitting $1.14. 432,839 shares of the company’s stock were exchanged, compared to its average volume of 1,200,393. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.06. Acasti Pharma has a 12 month low of $0.43 and a 12 month high of $1.80. The business’s 50-day moving average price is $0.91. The firm has a market cap of $86.15 million, a P/E ratio of -1.61 and a beta of 0.99.

A number of institutional investors have recently modified their holdings of the business. Perceptive Advisors LLC bought a new position in Acasti Pharma in the 4th quarter worth approximately $1,480,000. Pura Vida Investments LLC bought a new position in Acasti Pharma in the 4th quarter worth approximately $157,000. Geode Capital Management LLC bought a new position in Acasti Pharma in the 4th quarter worth approximately $40,000. Finally, Bank of Montreal Can boosted its holdings in Acasti Pharma by 60.3% in the 4th quarter. Bank of Montreal Can now owns 247,612 shares of the biopharmaceutical company’s stock worth $206,000 after buying an additional 93,185 shares during the period. Institutional investors own 3.12% of the company’s stock.

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.

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