HC Wainwright Reaffirms Buy Rating for Acasti Pharma (NASDAQ:ACST)

HC Wainwright reaffirmed their buy rating on shares of Acasti Pharma (NASDAQ:ACST) in a research report report published on Thursday, Benzinga reports. They currently have a $12.00 target price on the biopharmaceutical company’s stock.

Separately, 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.

Acasti Pharma Stock Up 1.6 %

ACST stock opened at $3.12 on Thursday. The business has a 50 day moving average price of $2.59 and a 200 day moving average price of $2.90. The stock has a market cap of $29.32 million, a price-to-earnings ratio of -2.17 and a beta of 1.51. Acasti Pharma has a fifty-two week low of $1.98 and a fifty-two week high of $3.59.

Acasti Pharma (NASDAQ:ACST) last posted 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. As a group, sell-side analysts anticipate that Acasti Pharma will post -1.14 EPS for the current year.

Institutional Investors Weigh In On Acasti Pharma

A hedge fund recently raised its stake in Acasti Pharma stock. AIGH Capital Management LLC grew its stake in Acasti Pharma Inc. (NASDAQ:ACST) by 28.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 641,083 shares of the biopharmaceutical company’s stock after purchasing an additional 143,724 shares during the period. Acasti Pharma makes up approximately 0.6% of AIGH Capital Management LLC’s portfolio, making the stock its 26th biggest holding. AIGH Capital Management LLC owned about 6.82% of Acasti Pharma worth $1,883,000 at the end of the most recent reporting period. 6.08% of the stock is owned by institutional investors.

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.