In a report released today, Mayank Mamtani from B.Riley FBR maintained a Buy rating on Acasti Pharma (ACST), with a price target of $2.00. The company’s shares closed last Thursday at $0.53, close to its 52-week low of $0.25.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 22.1% and a 52.1% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.
Currently, the analyst consensus on Acasti Pharma is a Moderate Buy with an average price target of $3.34, a 554.9% upside from current levels. In a report issued on June 30, Oppenheimer also maintained a Buy rating on the stock with a $7.00 price target.
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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 $4.61 million.
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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.
