B. Riley analyst Mayank Mamtani says Acasti Pharma’s (NASDAQ:ACST) 24% pullback yesterday was “unwarranted” as the delay in CaPre drug data is likely “inconsequential” to the anticipated study results.
Yesterday, Acasti announced it will now report top-line results for the Trilogy 1 Phase 3 trial in January 2020 due to an unexpected delay in data processing.
Mamtani also notes ACST’s “incrementally improved balance sheet,” which limits the “post-data financing overhang.”
B. Riley maintains a Buy rating and $8 PT on ACST.
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