Acasti Pharma Inc. (NASDAQ:ACST) Short Interest Update

Acasti Pharma Inc. (NASDAQ:ACST) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 154,200 shares, a growth of 19.6% from the September 30th total of 128,900 shares. Approximately 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 27,200 shares, the days-to-cover ratio is presently 5.7 days.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Craig Hallum increased their target price on Acasti Pharma from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Acasti Pharma in a report on Thursday, September 26th.

Institutional Investors Weigh In On Acasti Pharma

An institutional investor recently raised its position 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. 6.08% of the stock is currently owned by institutional investors and hedge funds.

Acasti Pharma Trading Down 0.9 %

ACST stock opened at $3.37 on Wednesday. The business’s 50-day moving average is $2.88 and its 200 day moving average is $2.87. Acasti Pharma has a 12-month low of $1.98 and a 12-month high of $3.60. The stock has a market cap of $31.67 million, a price-to-earnings ratio of -2.34 and a beta of 1.52.

Acasti Pharma (NASDAQ:ACST) last issued its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. As a group, equities analysts forecast that Acasti Pharma will post -1.11 EPS for the current fiscal year.

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.