Acasti Pharma initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Oren Livnat initiated coverage of Acasti Pharma with a Buy rating and $2.40 price target. Acasti is a clinical-stage drug delivery company, focused on proprietary formulations of existing compounds to treat orphan conditions with suboptimal or no approved therapy, Livnat tells investors in a research note. The analyst believes the company is "flying under investors’ radar" after a complete strategic pivot following the 2020 failure of its legacy CaPre triglyceride lowering asset.