Acasti Pharma (NASDAQ:ACST) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Acasti Pharma Inc. (NASDAQ:ACST)’s share price 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 changing hands.

Wall Street Analyst Weigh In

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

Acasti Pharma Stock Up 1.5 %

The company has a market cap of $31.30 million, a P/E ratio of -2.31 and a beta of 1.52. The firm’s 50-day moving average price is $2.75 and its 200-day moving average price 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. As a group, analysts forecast that Acasti Pharma Inc. will post -1.11 earnings per share for the current year.

Institutional Trading of Acasti Pharma

A hedge fund recently raised its stake in Acasti Pharma stock. AIGH Capital Management LLC grew its stake in shares of Acasti Pharma Inc. (NASDAQ:ACST) by 28.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 641,083 shares of the biopharmaceutical company’s stock after buying an additional 143,724 shares during the period. Acasti Pharma accounts for approximately 0.6% of AIGH Capital Management LLC’s portfolio, making the stock its 26th largest holding. AIGH Capital Management LLC owned approximately 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 and hedge funds.

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.