Acasti Pharma Inc. (NASDAQ:ACST – Get Free Report) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 3,900 shares, a decline of 22.0% from the August 31st total of 5,000 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 16,000 shares, the days-to-cover ratio is presently 0.2 days.
Analyst Ratings Changes
ACST has been the topic of a number of recent analyst reports. Craig Hallum boosted their price objective on Acasti Pharma from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Acasti Pharma in a research note on Thursday.
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Hedge Funds Weigh In On Acasti Pharma
Acasti Pharma Stock Performance
ACST stock opened at $3.12 on Friday. The stock’s 50 day simple moving average is $2.58 and its 200 day simple moving average is $2.90. Acasti Pharma has a fifty-two week low of $1.98 and a fifty-two week high of $3.59. The company has a market cap of $29.32 million, a P/E ratio of -2.22 and a beta of 1.51.
Acasti Pharma (NASDAQ:ACST – Get Free Report) last released its earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.04. Equities analysts predict that Acasti Pharma will post -1.14 earnings per share for the current 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.
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