Oppenheimer Reiterates Outperform Rating, $5 Price Target on Acasti Pharma (ACST)

Oppenheimer analyst Leland Gershell reiterated an Outperform rating and $5.00 price target on Acasti Pharma (NASDAQ: ACST), following the company's Q4 report.

The analyst comments: "ACST continues to make progress in its three 505b2 programs. PK bridging study results on GTX-102 (betamethasone oral spray) should become available toward YE, and may enable the 1H23 start of a Phase 3 in ataxia-telangiectasia. With GTX-104 (IV nimodipine, for subarachnoid hemorrhage) having demonstrated success in its bridging study, a Phase 3 safety study should begin in the coming months following FDA alignment. We should also see SAD/MAD Phase 1 data on GTX-101 (bioadhesive bupivacaine topical spray) toward YE, for which Phase 2 development in postherpetic neuralgia is anticipated to start in early 2023. Cash runway expected to '104 NDA submission, which we put in the 2024 timeframe. Trading near cash levels, we believe ACST is worth a close look."

For an analyst ratings summary and ratings history on Acasti Pharma click here. For more ratings news on Acasti Pharma click here.

Shares of Acasti Pharma closed at $0.93 yesterday.

By Vlad Schepkov

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