Acasti Pharma Inc (NASDAQ:ACST) saw a significant decrease in short interest in January. As of January 31st, there was short interest totalling 481,843 shares, a decrease of 31.0% from the January 15th total of 698,655 shares. Based on an average daily trading volume, of 195,664 shares, the short-interest ratio is currently 2.5 days.
A number of research firms recently issued reports on ACST. ValuEngine raised shares of Acasti Pharma from a “hold” rating to a “buy” rating in a research note on Wednesday, October 17th. Zacks Investment Research downgraded shares of Acasti Pharma from a “buy” rating to a “hold” rating in a research note on Monday, January 14th.
Hedge funds have recently added to or reduced their stakes in the stock. K.J. Harrison & Partners Inc bought a new position in Acasti Pharma in the fourth quarter worth about $28,000. Geode Capital Management LLC bought a new position in Acasti Pharma in the fourth quarter worth about $40,000. Finally, Bank of Montreal Can raised its stake in Acasti Pharma by 60.3% in the fourth quarter. Bank of Montreal Can now owns 247,612 shares of the biopharmaceutical company’s stock worth $206,000 after buying an additional 93,185 shares in the last quarter. 0.50% of the stock is owned by institutional investors.
Acasti Pharma (NASDAQ:ACST) last released its quarterly earnings results on Wednesday, November 14th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.01. On average, equities analysts anticipate that Acasti Pharma will post -0.36 earnings per share for the current fiscal year.
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Acasti Pharma Company Profile
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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