Acasti Pharma price target raised to $8 from $6 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Acasti Pharma to $8 from $6 and keeps a Buy rating on the shares. The firm notes Acasti announced that enrollment has been completed for STRIVE-ON, the company’s 100-patient pivotal safety trial comparing GTX-104 vs. oral nimodipine. This is a significant milestone that comes ahead of schedule, with enrollment completion previously communicated to be late Q4 2024 or early Q1 2025. Craig-Hallum believes this will enable data in late January/early February, with the last patient’s last visit being late December. The delta is data lock and normal trial closing procedures. Now that full enrollment has been reached, the firm is increasing its chance of success to 65%.