Acasti Pharma (NASDAQ:ACST) Given Buy Rating at HC Wainwright

Acasti Pharma (NASDAQ:ACST)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They currently have a $12.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 298.67% from the company’s previous close.

Separately, Craig Hallum raised their target price on shares of Acasti Pharma from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday.

Acasti Pharma Stock Performance

ACST traded down $0.05 during trading on Thursday, hitting $3.01. The stock had a trading volume of 50,896 shares, compared to its average volume of 20,833. The company has a market capitalization of $30.52 million, a PE ratio of -2.10 and a beta of 1.51. Acasti Pharma has a twelve month low of $1.98 and a twelve month high of $3.59. The stock has a 50 day simple moving average of $2.58 and a two-hundred day simple moving average of $2.90.

Acasti Pharma (NASDAQ:ACST) last announced its earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. On average, equities research analysts anticipate that Acasti Pharma will post -1.14 EPS for the current year.

Institutional Trading of Acasti Pharma

A hedge fund recently raised its stake in Acasti Pharma stock. AIGH Capital Management LLC increased its holdings in shares of Acasti Pharma Inc. (NASDAQ:ACST) by 28.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 641,083 shares of the biopharmaceutical company’s stock after acquiring an additional 143,724 shares during the quarter. Acasti Pharma comprises 0.6% of AIGH Capital Management LLC’s investment portfolio, making the stock its 26th biggest position. AIGH Capital Management LLC owned about 6.82% of Acasti Pharma worth $1,883,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 6.08% of the company’s stock.

Acasti Pharma Company Profile

Acasti Pharma Inc engages in the development and commercialization of pharmaceutical products for rare and orphan diseases in Canada. The company's lead product candidate is the GTX-104, an intravenous infusion to treat subarachnoid hemorrhage. It also develops GTX-102, an oral mucosal spray for the treatment of ataxia-telangiectasia; and GTX-101, a topical bioadhesive film-forming bupivacaine spray for postherpetic neuralgia.