Acasti Pharma (NASDAQ:ACST) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Acasti Pharma Inc. (NASDAQ:ACST) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.88 and traded as high as $3.37. Acasti Pharma shares last traded at $3.28, with a volume of 11,001 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on ACST. Craig Hallum raised their price objective on Acasti Pharma from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Acasti Pharma in a research note on Thursday, September 26th.

Acasti Pharma Stock Down 2.0 %

The company has a market cap of $30.84 million, a PE ratio of -2.28 and a beta of 1.52. The stock’s 50 day simple moving average is $2.73 and its two-hundred day simple moving average is $2.88.

Acasti Pharma (NASDAQ:ACST) last issued its earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.04. Analysts forecast that Acasti Pharma Inc. will post -1.11 EPS for the current year.

Hedge Funds Weigh In On Acasti Pharma

An institutional investor recently raised its position in Acasti Pharma stock. AIGH Capital Management LLC raised its holdings in shares of Acasti Pharma Inc. (NASDAQ:ACST) by 28.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 641,083 shares of the biopharmaceutical company’s stock after buying an additional 143,724 shares during the period. Acasti Pharma comprises 0.6% of AIGH Capital Management LLC’s investment portfolio, making the stock its 26th largest position. AIGH Capital Management LLC owned 6.82% of Acasti Pharma worth $1,883,000 as of its most recent SEC filing. Institutional investors own 6.08% of the company’s stock.

About Acasti Pharma

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.