Zacks: Brokerages Anticipate Acasti Pharma Inc. (NASDAQ:ACST) Will Announce Earnings of -$0.13 Per Share

Analysts predict that Acasti Pharma Inc. (NASDAQ:ACSTGet Rating) will report earnings of ($0.13) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Acasti Pharma’s earnings. Acasti Pharma posted earnings per share of ($0.24) in the same quarter last year, which suggests a positive year-over-year growth rate of 45.8%. The business is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Acasti Pharma will report full-year earnings of ($0.14) per share for the current year. For the next financial year, analysts forecast that the business will report earnings of ($0.71) per share. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Acasti Pharma.

Acasti Pharma (NASDAQ:ACSTGet Rating) last announced its earnings results on Monday, February 14th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01).

A number of equities analysts have weighed in on ACST shares. Zacks Investment Research upgraded shares of Acasti Pharma from a “sell” rating to a “hold” rating in a research report on Tuesday, April 19th. StockNews.com raised shares of Acasti Pharma to a “sell” rating in a research note on Monday, March 14th.

A number of hedge funds have recently bought and sold shares of ACST. Morgan Stanley increased its stake in Acasti Pharma by 885.6% in the 1st quarter. Morgan Stanley now owns 378,808 shares of the biopharmaceutical company’s stock worth $227,000 after buying an additional 340,372 shares during the period. Citadel Advisors LLC purchased a new position in Acasti Pharma in the 2nd quarter worth about $62,000. Renaissance Technologies LLC increased its stake in Acasti Pharma by 60.7% in the 4th quarter. Renaissance Technologies LLC now owns 69,777 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 26,369 shares during the period. Bank of America Corp DE grew its holdings in Acasti Pharma by 3,199.4% during the 4th quarter. Bank of America Corp DE now owns 20,621 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 19,996 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Acasti Pharma during the 3rd quarter worth about $38,000. 0.46% of the stock is currently owned by institutional investors.

Shares of Acasti Pharma stock opened at $0.94 on Tuesday. The company has a 50-day simple moving average of $1.12 and a two-hundred day simple moving average of $1.26. Acasti Pharma has a 52-week low of $0.91 and a 52-week high of $5.44. The stock has a market capitalization of $41.63 million, a PE ratio of -2.47 and a beta of 1.79.

Acasti Pharma Company Profile (Get Rating)

Acasti Pharma Inc, a biopharmaceutical company, engages in the development and commercialization of pharmaceutical products for cardiovascular diseases. It is evaluating strategic partnerships for the clinical development of CaPre, an omega-3 phospholipid therapeutic to treat patients with hypertriglyceridemia.

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Earnings History and Estimates for Acasti Pharma (NASDAQ:ACST)

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