Acasti Pharma (NASDAQ:ACST) Issues Earnings Results, Beats Estimates By $0.10 EPS

Acasti Pharma (NASDAQ:ACST) released its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10, reports.

Acasti Pharma Price Performance

NASDAQ:ACST opened at $2.18 on Thursday. The stock’s fifty day moving average is $2.35 and its two-hundred day moving average is $2.62. Acasti Pharma has a 52 week low of $1.72 and a 52 week high of $5.05. The stock has a market capitalization of $16.24 million, a price-to-earnings ratio of -0.40 and a beta of 1.34.

Insiders Place Their Bets

In related news, Director Vimal Kavuru acquired 676,371 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were acquired at an average price of $1.85 per share, with a total value of $1,251,286.35. Following the completion of the transaction, the director now owns 1,188,076 shares of the company’s stock, valued at $2,197,940.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.51% of the stock is owned by insiders.

Hedge Funds Weigh In On Acasti Pharma

An institutional investor recently bought a new position in Acasti Pharma stock. Renaissance Technologies LLC acquired a new stake in Acasti Pharma Inc. (NASDAQ:ACST) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 90,768 shares of the biopharmaceutical company’s stock, valued at approximately $42,000. Renaissance Technologies LLC owned approximately 0.20% of Acasti Pharma at the end of the most recent reporting period. Institutional investors and hedge funds own 2.00% 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.