HC Wainwright reaffirmed their buy rating on shares of Acasti Pharma (NASDAQ:ACST) in a research note released on Thursday, AnalystRatings.com reports.
“Our price target of $6/share is based on an equally weighted composite of: (a) $4.96/share, as a 25x multiple of taxed and diluted 2030 EPS of $1.23 discounted back to FY 2020 at 20%; and (b) an NPV discounted cash flow between FY 2020-2030 of $6.32/share, with a discount rate of 13% and growth rate of 2%. These assumptions are in-line with the expected PE multiple and discount rates of an early development-stage biopharmaceutical company.”,” the firm’s analyst wrote.
A number of other equities analysts also recently weighed in on ACST. ValuEngine downgraded shares of Acasti Pharma from a buy rating to a hold rating in a research note on Thursday, August 1st. CIBC initiated coverage on shares of Acasti Pharma in a research note on Thursday, July 18th. They set an outperform rating and a $7.00 price target on the stock. Zacks Investment Research downgraded shares of Acasti Pharma from a buy rating to a hold rating in a research note on Tuesday, August 6th. Oppenheimer began coverage on shares of Acasti Pharma in a research note on Thursday, July 18th. They issued an outperform rating and a $7.00 target price on the stock. Finally, Aegis began coverage on shares of Acasti Pharma in a research note on Tuesday, July 9th. They issued a buy rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $5.25.
Acasti Pharma (NASDAQ:ACST) last posted its quarterly earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.01. As a group, research analysts anticipate that Acasti Pharma will post -0.28 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Acasti Pharma by 2.0% in the 2nd quarter. Bank of Montreal Can now owns 253,287 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 5,000 shares during the period. Morgan Stanley raised its stake in shares of Acasti Pharma by 20.6% in the 2nd quarter. Morgan Stanley now owns 45,687 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 7,789 shares during the period. Finally, Geode Capital Management LLC purchased a new position in shares of Acasti Pharma in the 4th quarter valued at $40,000. 3.06% of the stock is currently owned by institutional investors and hedge funds.
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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