Acasti Pharma (NASDAQ:ACST) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Acasti Pharma Inc. (NASDAQ:ACST) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.88 and traded as high as $3.37. Acasti Pharma shares last traded at $3.28, with a volume of 11,001 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Craig Hallum boosted their target price on shares of Acasti Pharma from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Acasti Pharma in a report on Thursday, September 26th.

Acasti Pharma Stock Performance

The firm has a market capitalization of $31.30 million, a P/E ratio of -2.31 and a beta of 1.52. The firm has a 50 day simple moving average of $2.75 and a two-hundred day simple moving average of $2.88.

Acasti Pharma (NASDAQ:ACST) last released its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. Sell-side analysts anticipate that Acasti Pharma Inc. will post -1.11 earnings per share for the current year.

Hedge Funds Weigh In On Acasti Pharma

An institutional investor recently raised its position in Acasti Pharma stock. AIGH Capital Management LLC boosted its holdings in Acasti Pharma Inc. (NASDAQ:ACST) by 28.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 641,083 shares of the biopharmaceutical company’s stock after purchasing an additional 143,724 shares during the period. Acasti Pharma comprises 0.6% of AIGH Capital Management LLC’s holdings, making the stock its 26th largest position. AIGH Capital Management LLC owned approximately 6.82% of Acasti Pharma worth $1,883,000 as of its most recent SEC filing. 6.08% of the stock is currently owned by institutional investors.

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.