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 changing hands.
Wall Street Analysts Forecast Growth
Separately, Craig Hallum started coverage on Acasti Pharma in a research report on Wednesday, February 7th. They issued a “buy” rating and a $6.00 target price on the stock.
View Our Latest Stock Analysis on Acasti Pharma
Acasti Pharma Trading Down 6.5 %
Acasti Pharma (NASDAQ:ACST – Get Free Report) last released its quarterly earnings data on Monday, February 12th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.02. On average, equities analysts expect that Acasti Pharma Inc. will post -1.44 earnings per share for the current year.
Institutional Investors Weigh In On Acasti Pharma
Several hedge funds have recently bought and sold shares of ACST. Renaissance Technologies LLC purchased a new position in shares of Acasti Pharma during the 1st quarter valued at approximately $42,000. Bank of America Corp DE lifted its position in shares of Acasti Pharma by 174.4% during the 1st 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 in the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Acasti Pharma during the 4th quarter valued at approximately $100,000. Finally, Royal Bank of Canada lifted its position in shares of Acasti Pharma by 5,308.2% during the 4th 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 in the last quarter. 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.
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