Craig Hallum Boosts Acasti Pharma (NASDAQ:ACST) Price Target to $8.00

Acasti Pharma (NASDAQ:ACST) had its target price hoisted by investment analysts at Craig Hallum from $6.00 to $8.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Craig Hallum’s target price indicates a potential upside of 168.46% from the stock’s current price.

Acasti Pharma Stock Down 2.6 %

Shares of NASDAQ ACST traded down $0.08 during trading on Thursday, hitting $2.98. 39,447 shares of the company traded hands, compared to its average volume of 20,772. The firm has a market capitalization of $30.22 million, a P/E ratio of -2.03 and a beta of 1.51. The company has a 50-day moving average price of $2.58 and a 200-day moving average price of $2.90. Acasti Pharma has a 1 year low of $1.98 and a 1 year high of $3.59.

Acasti Pharma (NASDAQ:ACST) last announced its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.04. Research analysts predict that Acasti Pharma will post -1.14 EPS for the current fiscal year.

Institutional Trading of Acasti Pharma

A hedge fund recently raised its stake in Acasti Pharma stock. AIGH Capital Management LLC increased its stake in Acasti Pharma Inc. (NASDAQ:ACST) by 28.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 641,083 shares of the biopharmaceutical company’s stock after buying an additional 143,724 shares during the quarter. Acasti Pharma comprises 0.6% of AIGH Capital Management LLC’s portfolio, making the stock its 26th largest position. AIGH Capital Management LLC owned about 6.82% of Acasti Pharma worth $1,883,000 as of its most recent filing with the SEC. 6.08% of the stock is owned by hedge funds and other institutional investors.

About Acasti Pharma

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.