Acasti Pharma Inc. (NASDAQ:ACST) Sees Significant Growth in Short Interest

Acasti Pharma Inc. (NASDAQ:ACST) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 154,200 shares, a growth of 19.6% from the September 30th total of 128,900 shares. Based on an average daily volume of 27,200 shares, the short-interest ratio is presently 5.7 days. Approximately 2.5% of the shares of the stock are sold short.

Acasti Pharma Trading Down 0.9 %

NASDAQ:ACST opened at $3.37 on Monday. Acasti Pharma has a 12-month low of $1.98 and a 12-month high of $3.60. The firm has a market cap of $31.67 million, a price-to-earnings ratio of -2.34 and a beta of 1.52. The company’s 50-day moving average is $2.84 and its two-hundred day moving average is $2.87.

Acasti Pharma (NASDAQ:ACST) last announced its earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. On average, equities research analysts forecast that Acasti Pharma will post -1.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors 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 second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 641,083 shares of the biopharmaceutical company’s stock after buying an additional 143,724 shares during the period. Acasti Pharma accounts for approximately 0.6% of AIGH Capital Management LLC’s holdings, making the stock its 26th largest holding. AIGH Capital Management LLC owned approximately 6.82% of Acasti Pharma worth $1,883,000 as of its most recent SEC filing. Institutional investors and hedge funds own 6.08% 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.