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

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

Acasti Pharma Price Performance

Shares of Acasti Pharma stock opened at $3.12 on Thursday. The business’s fifty day moving average price is $2.59 and its two-hundred day moving average price is $2.90. The company has a market capitalization of $29.32 million, a P/E ratio of -2.17 and a beta of 1.51. 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 earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. On average, research analysts expect that Acasti Pharma will post -1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acasti Pharma

An institutional investor recently raised its position in Acasti Pharma stock. AIGH Capital Management LLC grew its position in shares of Acasti Pharma Inc. (NASDAQ:ACST) by 28.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 641,083 shares of the biopharmaceutical company’s stock after purchasing an additional 143,724 shares during the quarter. Acasti Pharma accounts for 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 at the end of the most recent 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.