Acasti Pharma (NASDAQ:ACST) Shares Gap Up to $1.20

Acasti Pharma Inc (NASDAQ:ACST) shares gapped up prior to trading on Thursday . The stock had previously closed at $1.25, but opened at $1.20. Acasti Pharma shares last traded at $1.09, with a volume of 56,684 shares trading hands.

Several equities analysts recently issued reports on the company. ValuEngine upgraded Acasti Pharma from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Zacks Investment Research upgraded Acasti Pharma from a “hold” rating to a “buy” rating and set a $1.00 price objective for the company in a research report on Friday, June 7th. Finally, HC Wainwright assumed coverage on Acasti Pharma in a research report on Wednesday. They issued a “buy” rating and a $6.00 price objective for the company.

The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average is $0.91.

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC acquired a new position in Acasti Pharma during the 4th quarter worth approximately $40,000. Pura Vida Investments LLC acquired a new position in Acasti Pharma during the 4th quarter worth approximately $157,000. Finally, Perceptive Advisors LLC acquired a new position in Acasti Pharma during the 4th quarter worth approximately $1,480,000. 3.12% of the stock is owned by hedge funds and other institutional investors.

About Acasti Pharma (NASDAQ:ACST)

Acasti Pharma Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of prescription drugs for the treatment of cardiovascular diseases. Its lead product candidate is CaPre, an omega-3 phospholipid therapeutic that is in Phase III clinical trial to treat patients with hypertriglyceridemia.

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