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

Acasti Pharma (NASDAQ:ACST) had its price target raised by Craig Hallum from $6.00 to $8.00 in a research report sent to investors on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the biopharmaceutical company’s stock.

Acasti Pharma Trading Up 1.6 %

Shares of ACST opened at $3.12 on Thursday. Acasti Pharma has a 12 month low of $1.98 and a 12 month high of $3.59. The firm’s 50 day moving average is $2.59 and its 200-day moving average is $2.90. The stock has a market capitalization of $29.32 million, a PE ratio of -2.17 and a beta of 1.51.

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

Institutional Trading of Acasti Pharma

An institutional investor recently raised its position in Acasti Pharma stock. AIGH Capital Management LLC increased its position in shares of Acasti Pharma Inc. (NASDAQ:ACST) by 28.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 641,083 shares of the biopharmaceutical company’s stock after acquiring an additional 143,724 shares during the period. Acasti Pharma comprises 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 at the end of the most recent reporting period. Hedge funds and other 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.