Zacks: Brokerages Anticipate Acasti Pharma Inc (NASDAQ:ACST) to Post -$0.10 Earnings Per Share

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Analysts predict that Acasti Pharma Inc (NASDAQ:ACST) will report earnings of ($0.10) per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Acasti Pharma’s earnings. The highest EPS estimate is ($0.07) and the lowest is ($0.13). Acasti Pharma reported earnings per share of ($0.19) in the same quarter last year, which would suggest a positive year-over-year growth rate of 47.4%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Acasti Pharma will report full-year earnings of ($0.31) per share for the current financial year, with EPS estimates ranging from ($0.42) to ($0.13). For the next financial year, analysts anticipate that the firm will report earnings of ($0.22) per share, with EPS estimates ranging from ($0.44) to ($0.04). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Acasti Pharma.

Acasti Pharma (NASDAQ:ACST) last posted its earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01.

A number of brokerages recently commented on ACST. Zacks Investment Research lowered Acasti Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. ValuEngine lowered Acasti Pharma from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. B. Riley began coverage on Acasti Pharma in a report on Thursday, August 29th. They set a “buy” rating and a $7.75 price target on the stock. Aegis began coverage on Acasti Pharma in a report on Tuesday, July 9th. They set a “buy” rating on the stock. Finally, Oppenheimer began coverage on Acasti Pharma in a report on Thursday, July 18th. They set an “outperform” rating and a $7.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $6.00.

A number of institutional investors have recently modified their holdings of the stock. Morgan Stanley lifted its holdings in Acasti Pharma by 20.6% during the second quarter. Morgan Stanley now owns 45,687 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 7,789 shares during the period. Bank of Montreal Can increased its position in Acasti Pharma by 2.0% in the second quarter. Bank of Montreal Can now owns 253,287 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 5,000 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new stake in Acasti Pharma in the fourth quarter worth $40,000. Institutional investors and hedge funds own 2.96% of the company’s stock.

Acasti Pharma stock traded down $0.06 during mid-day trading on Friday, reaching $2.08. 25,471 shares of the company’s stock were exchanged, compared to its average volume of 1,238,883. The business’s fifty day simple moving average is $2.04 and its 200 day simple moving average is $1.34. The firm has a market capitalization of $184.84 million, a PE ratio of -2.98 and a beta of 1.35. Acasti Pharma has a one year low of $0.52 and a one year high of $2.95.

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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Earnings History and Estimates for Acasti Pharma (NASDAQ:ACST)

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