Acasti Pharma Inc. (NASDAQ:ACST – Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.73 and traded as high as $3.31. Acasti Pharma shares last traded at $3.17, with a volume of 16,794 shares traded.
Analyst Upgrades and Downgrades
Separately, Craig Hallum assumed coverage on shares of Acasti Pharma in a research report on Wednesday, February 7th. They issued a “buy” rating and a $6.00 price target on the stock.
Read Our Latest Research Report on Acasti Pharma
Acasti Pharma Stock Performance
Acasti Pharma (NASDAQ:ACST – Get Free Report) last posted its quarterly earnings results on Monday, February 12th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.02. Equities research analysts forecast that Acasti Pharma Inc. will post -1.44 earnings per share for the current year.
Hedge Funds Weigh In On Acasti Pharma
Several large investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in Acasti Pharma by 5,308.2% in the fourth quarter. Royal Bank of Canada now owns 31,584 shares of the biopharmaceutical company’s stock valued at $92,000 after buying an additional 31,000 shares during the period. ADAR1 Capital Management LLC acquired a new position in Acasti Pharma in the fourth quarter valued at approximately $100,000. Renaissance Technologies LLC acquired a new position in Acasti Pharma in the first quarter valued at approximately $42,000. Finally, Bank of America Corp DE lifted its holdings in Acasti Pharma by 174.4% in the first quarter. Bank of America Corp DE now owns 56,583 shares of the biopharmaceutical company’s stock valued at $69,000 after buying an additional 35,962 shares during the period. 6.08% of the stock is currently 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.
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