Acasti Pharma initiated with a Buy at EF Hutton

EF Hutton analyst Constantine Davides initiated coverage of Acasti Pharma with a Buy rating and $2.50 price target. Acasti is advancing three clinical stage assets for rare conditions with high unmet need, Davides tells investors in a research note. The analyst is "constructive" on the opportunity for the company’s lead asset, GTX-104, for the treatment of subarachnoid hemorrhage, which is expected to enter Phase 3 studies in the first half of 2023.