Short Interest in Acasti Pharma Inc. (NASDAQ:ACST) Grows By 171.4%

Acasti Pharma Inc. (NASDAQ:ACST) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 3,800 shares, an increase of 171.4% from the March 31st total of 1,400 shares. Based on an average daily volume of 25,600 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are short sold.

Acasti Pharma Price Performance

Shares of ACST opened at $2.93 on Friday. The company has a market cap of $27.53 million, a PE ratio of -0.58 and a beta of 1.49. The firm has a 50-day moving average of $3.33 and a 200-day moving average of $2.74. Acasti Pharma has a one year low of $1.72 and a one year high of $3.84.

Acasti Pharma (NASDAQ:ACST) last issued its earnings results on Monday, February 12th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.02. Analysts expect that Acasti Pharma will post -1.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum started coverage on shares of Acasti Pharma in a research note on Wednesday, February 7th. They issued a “buy” rating and a $6.00 target price for the company.

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.