Acasti Pharma’s (ACST) “Buy” Rating Reaffirmed at HC Wainwright

Acasti Pharma (NASDAQ:ACST)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $12.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 284.62% from the stock’s current price.

Separately, Craig Hallum boosted their target price on Acasti Pharma from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday.

Acasti Pharma Stock Up 1.6 %

Acasti Pharma stock opened at $3.12 on Thursday. Acasti Pharma has a 52 week low of $1.98 and a 52 week high of $3.59. The business has a 50-day simple moving average of $2.58 and a 200 day simple moving average of $2.90. The stock has a market cap of $29.32 million, a price-to-earnings ratio of -2.22 and a beta of 1.51.

Acasti Pharma (NASDAQ:ACST) last posted its 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. On average, research analysts anticipate that Acasti Pharma will post -1.14 earnings per share for the current year.

Institutional Investors Weigh In On 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 13F filing with the Securities and Exchange Commission. The fund owned 641,083 shares of the biopharmaceutical company’s stock after acquiring an additional 143,724 shares during the period. Acasti Pharma comprises about 0.6% of AIGH Capital Management LLC’s holdings, making the stock its 26th largest holding. AIGH Capital Management LLC owned approximately 6.82% of Acasti Pharma worth $1,883,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 6.08% of the company’s stock.

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.