Acasti Pharma (NASDAQ:ACST) Downgraded by ValuEngine

ValuEngine downgraded shares of Acasti Pharma (NASDAQ:ACST) from a hold rating to a sell rating in a research note released on Wednesday morning, ValuEngine reports.

Several other analysts have also recently weighed in on the company. HC Wainwright reaffirmed a buy rating on shares of Acasti Pharma in a report on Thursday, August 15th. B. Riley started coverage on Acasti Pharma in a report on Thursday, August 29th. They issued a buy rating and a $7.75 price target on the stock. Aegis started coverage on Acasti Pharma in a report on Tuesday, July 9th. They issued a buy rating on the stock. Oppenheimer started coverage on Acasti Pharma in a report on Thursday, July 18th. They issued an outperform rating and a $7.00 price target on the stock. Finally, Zacks Investment Research cut Acasti Pharma from a buy rating to a hold rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $6.00.

Shares of NASDAQ:ACST traded down $0.01 on Wednesday, hitting $1.87. The company’s stock had a trading volume of 779,958 shares, compared to its average volume of 1,013,722. The company has a 50-day simple moving average of $1.97 and a 200 day simple moving average of $1.41. Acasti Pharma has a 1 year low of $0.60 and a 1 year high of $2.95. The company has a market capitalization of $163.97 million, a PE ratio of -2.63 and a beta of 1.29.

Acasti Pharma (NASDAQ:ACST) last released its quarterly earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. Sell-side analysts anticipate that Acasti Pharma will post -0.31 earnings per share for the current year.

A hedge fund recently raised its stake in Acasti Pharma stock. Bank of Montreal Can grew its position in shares of Acasti Pharma Inc (NASDAQ:ACST) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 253,287 shares of the biopharmaceutical company’s stock after purchasing an additional 5,000 shares during the quarter. Bank of Montreal Can owned approximately 0.31% of Acasti Pharma worth $289,000 as of its most recent SEC filing. Institutional investors and hedge funds own 2.96% of the company’s stock.

About Acasti Pharma

Acasti Pharma Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of prescription drugs for the treatment of cardiovascular diseases. Its lead product candidate is CaPre, an omega-3 phospholipid therapeutic that is in Phase III clinical trial to treat patients with hypertriglyceridemia.

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Analyst Recommendations for Acasti Pharma (NASDAQ:ACST)

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