Aegis initiated coverage on shares of Acasti Pharma (NASDAQ:ACST) in a report published on Tuesday, The Fly reports. The firm issued a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also commented on ACST. HC Wainwright restated a buy rating on shares of ACASTI PHARM-TS in a research note on Wednesday, June 26th. Zacks Investment Research lowered shares of Home Bancshares from a hold rating to a sell rating in a research note on Friday, June 7th. Finally, ValuEngine upgraded shares of WPP from a sell rating to a hold rating in a research note on Wednesday, June 19th.

Shares of NASDAQ:ACST opened at $1.40 on Tuesday. The company has a 50 day moving average price of $1.04. Acasti Pharma has a 52 week low of $0.43 and a 52 week high of $1.80. The firm has a market capitalization of $109.86 million, a price-to-earnings ratio of -1.97 and a beta of 1.15.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Perceptive Advisors LLC acquired a new position in shares of Acasti Pharma during the fourth quarter valued at approximately $1,480,000. Pura Vida Investments LLC acquired a new position in shares of Acasti Pharma during the fourth quarter valued at approximately $157,000. Finally, Geode Capital Management LLC acquired a new position in shares of Acasti Pharma during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 3.12% of the company’s stock.

About Acasti Pharma

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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