Analyst Explains Why They Downgraded Their Rating on Acasti Pharma (ACST)

By Jason Carr

In a report released today, Mayank Mamtani from B.Riley FBR downgraded Acasti Pharma (ACSTResearch Report) to Hold, with a price target of $0.50. The company’s shares closed last Monday at $0.24.

According to, Mamtani is a 5-star analyst with an average return of 16.5% and a 49.3% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.

Acasti Pharma has an analyst consensus of Strong Buy, with a price target consensus of $3.27.

See today’s analyst top recommended stocks >>

Based on Acasti Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $17.22 million. In comparison, last year the company had a GAAP net loss of $16.81 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Acasti Pharma, Inc. engages in the development and commercialization of pharmaceutical applications of its licensed rights for cardiovascular diseases. It focuses on the research of prescription drugs using omega-3, fatty acids derived from krill oil. The company was founded by Henri Harland on February 1, 2002 and is headquartered in Laval, Canada.