Acasti Pharma (NASDAQ:ACST) Stock Price Passes Above 200 Day Moving Average of $0.65

Acasti Pharma Inc. (NASDAQ:ACSTGet Rating) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.65 and traded as high as $0.83. Acasti Pharma shares last traded at $0.79, with a volume of 84,793 shares traded.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACST. EF Hutton Acquisition Co. I assumed coverage on Acasti Pharma in a research note on Monday, December 19th. They set a “buy” rating and a $2.50 price target for the company. HC Wainwright started coverage on Acasti Pharma in a research report on Thursday, December 15th. They set a “buy” rating and a $2.40 target price on the stock.

Acasti Pharma Price Performance

The company has a market cap of $35.20 million, a PE ratio of -2.32 and a beta of 1.43. The company’s fifty day moving average price is $0.52 and its 200 day moving average price is $0.65.

Acasti Pharma (NASDAQ:ACSTGet Rating) last posted its earnings results on Monday, November 14th. The biopharmaceutical company reported ($0.11) EPS for the quarter. During the same period in the previous year, the company earned $0.03 EPS. On average, analysts forecast that Acasti Pharma Inc. will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acasti Pharma stock. Bank of America Corp DE boosted its stake in Acasti Pharma Inc. (NASDAQ:ACSTGet Rating) by 174.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,583 shares of the biopharmaceutical company’s stock after acquiring an additional 35,962 shares during the period. Bank of America Corp DE owned 0.13% of Acasti Pharma worth $69,000 as of its most recent filing with the SEC. 0.21% of the stock is owned by institutional investors.

About Acasti Pharma

(Get Rating)

Acasti Pharma Inc, a biopharmaceutical company, engages in the development and commercialization of pharmaceutical products for cardiovascular diseases. It is evaluating strategic partnerships for the clinical development of CaPre. The company was incorporated in 2002 and is headquartered in Laval, Canada.

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