Acasti Pharma (NASDAQ:ACST) Shares Cross Above 200-Day Moving Average of $2.73

Acasti Pharma Inc. (NASDAQ:ACST) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 traded.

Analyst Ratings Changes

Separately, Craig Hallum began coverage on Acasti Pharma in a research report on Wednesday, February 7th. They set a “buy” rating and a $6.00 target price on the stock.

Acasti Pharma Stock Performance

The business has a fifty day moving average price of $3.30 and a 200 day moving average price of $2.73. The company has a market capitalization of $26.98 million, a PE ratio of -0.57 and a beta of 1.49.

Acasti Pharma (NASDAQ:ACST) last released its quarterly earnings data on Monday, February 12th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. Research analysts forecast that Acasti Pharma Inc. will post -1.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acasti Pharma

Large investors have recently modified their holdings of the company. Bank of America Corp DE grew its stake in shares of Acasti Pharma by 174.4% in the first 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. Renaissance Technologies LLC acquired a new stake in shares of Acasti Pharma in the first quarter valued at about $42,000. ADAR1 Capital Management LLC acquired a new stake in shares of Acasti Pharma in the fourth quarter valued at about $100,000. Finally, Royal Bank of Canada grew its stake in shares of Acasti Pharma by 5,308.2% in the fourth 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. 6.08% of the stock is currently 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.