Craig-Hallum starts ‘wrongly cast out’ Acasti Pharma with a Buy

As previously reported, Craig-Hallum initiated coverage of Acasti Pharma with a Buy rating and $6 price target. The microcap stock is “trading essentially at cash,” with no asset value implied, but the firm thinks Acasti has been “wrongly cast out with broader microcap biotech/specialty pharma,” the analyst tells investors. The company is currently enrolling its pivotal trial for lead asset, GTX-104, which the firm believes is “highly derisked,” while the company has cash to last through an NDA submission in Q1 of calendar 2025. The firm sees a substantial market need in the aneurysmal subarachnoid hemorrhage, or SAH, market, the analyst added.