It is almost always a good idea for investors to hunt for stocks which might have recorded steady gains over an extended period of time and in light of such a principle it might be a good move to look into the Acasti Pharma Inc (NASDAQ:ACST) stock.
Over the course of the past month, the Acasti stock has performed well and managed to deliver gains of 10% to its investors. To get to the bottom of the gains, it is necessary to note that back on June 22 the company announced its financial results for the fiscal year that ended on March 31, 2021.
In the fiscal year, the company managed to reduce the magnitude of its losses from to $16.4 million from $24.4 million in the previous fiscal year. Acasti managed to achieve that by controlling its expenses and it goes without saying that the reduction in losses is a major development for the company.
However, that is not all. The company also announced that it signed a definitive agreement with regards to the acquisition of the privately held biopharmaceutical company Grace Therapeutics. It is another major milestone for the company and one that investors could consider keeping an eye on.
Market Reaction:
On Thursday, ACST stock gained 4.27% to $0.5855 with more than 1.61 million shares, compared to its average volume of 1.38 million shares. The stock has moved within a range of $0.5662 – 0.6299 after opening the trade at $0.5729 Over the past 52-week, the stock has been trading within a range of $0.1700 – 1.2200.
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