Company News

BUZZ-Acasti Pharma rises after HC Wainwright starts with "buy"

** Canada-based drug developer’s U.S.-listed shares rise 18.10% to $1.24 premarket

** HC Wainwright starts coverage on ACST with a “buy” rating, citing potential of co’s krill oil based therapy CaPre for hypertriglyceridemia; sets PT of $6

** Based on survey results conducted by the brokerage, Wainwright believes there is potential for co’s drug to differentiate itself from other therapies that use omega-3 fatty acids, such as Amarin Corp’s Vascepa

** If approved, CaPre would represent the only prescription omega-3 offering triglyceride reduction benefits, without raising LDL-cholesterol levels

** Both of the brokerages covering the stock rate it “buy” or higher

** Up to Tuesday’s close, stock had risen 26.22% YTD (Reporting by Manas Mishra in Bengaluru)