Acasti Pharma Stock (ACST): Why The Price Surged

By Amit Chowdhry ● Dec 23, 2021
  • The stock price of Acasti Pharma Inc (NASDAQ: ACST) increased by 52.25% in the previous trading session. This is why it happened.

The stock price of Acasti Pharma Inc (NASDAQ: ACST) increased by 52.25% in the previous trading session. Investors are responding positively to Oppenheimer analyst Leland Gershell initiating coverage of Acasti Pharma with an “Outperform” rating and a $6 price target. The $6 price target imputed a 440.54% upside to the previous close.

Gershell noted that the company is now focused on the development of medicines for rare conditions and each of its candidates may offer meaningful advantages over standard-of-care while mitigating development risk and cost.

And the analyst looks forward to the respective entry of GTX-104 and GTX-102 into Phase 3 evaluation for subarachnoid hemorrhage and for ataxia-telangiectasia. And with Acasti Pharma shares trading near cash levels, Gershell recommends investors build a position.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.