Zacks Investment Research Upgrades Acasti Pharma (NASDAQ:ACST) to Hold

Acasti Pharma (NASDAQ:ACST) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Acasti Pharma Inc. is a biopharmaceutical company. It is focused on research, development and commercialization of krill oil based forms of omega-3 phospholipid therapies. CaPre (R), Acasti’s only prescription drug candidate, is being developed to help prevent and treat hypertriglyceridemia. ONEMIA (R) is a medical food and currently Acasti’s only commercialized product. Acasti Pharma Inc. is headquartered in Laval, Canada. “

A number of other research analysts have also issued reports on the company. B. Riley lowered Acasti Pharma from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research report on Monday. Echelon Wealth Partners reiterated a “buy” rating and set a $4.00 target price on shares of Acasti Pharma in a research report on Wednesday, January 8th. ValuEngine upgraded Acasti Pharma from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Oppenheimer restated a “buy” rating and issued a $7.00 price objective on shares of Acasti Pharma in a report on Thursday, December 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Acasti Pharma has an average rating of “Buy” and an average target price of $4.75.

Shares of NASDAQ:ACST traded up $0.18 during midday trading on Tuesday, reaching $0.94. 21,123,361 shares of the company’s stock traded hands, compared to its average volume of 4,725,596. Acasti Pharma has a 1 year low of $0.51 and a 1 year high of $3.08. The company has a market cap of $193.98 million, a P/E ratio of -1.32 and a beta of 1.53. The company has a fifty day simple moving average of $2.17 and a two-hundred day simple moving average of $1.99.

Acasti Pharma (NASDAQ:ACST) last announced its earnings results on Wednesday, November 13th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). On average, sell-side analysts forecast that Acasti Pharma will post -0.38 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. purchased a new position in Acasti Pharma in the 3rd quarter valued at $104,000. Morgan Stanley lifted its holdings in Acasti Pharma by 20.6% in the 2nd quarter. Morgan Stanley now owns 45,687 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 7,789 shares in the last quarter. Bank of Montreal Can lifted its holdings in Acasti Pharma by 2.0% in the 2nd quarter. Bank of Montreal Can now owns 253,287 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 5,000 shares in the last quarter. Sterling Investment Advisors Ltd. purchased a new position in Acasti Pharma in the 3rd quarter valued at $38,000. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new position in Acasti Pharma in the 3rd quarter valued at $95,000. Institutional investors own 3.96% of the company’s stock.

Acasti Pharma Company Profile

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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