ROTH Capital Partners' analyst Joseph Pantginis, Ph.D., has reiterated a BUY recommendation and $9 price target for shares of Neptune Technologies & Bioressources (Nasdaq:NEPT) (TSX:NTB.TO).
"The stock is poised for significant growth this year, in our view, with key top line results from two ongoing Phase II CaPre clinical studies conducted by Acasti in Canada," wrote Pantginis in a note to clients.
"Data from an open label study in hypertriglyceridemia are anticipated mid-year, and data from a randomized, double blind Phase II study are expected by the end of 2012. These results, in addition to clinical PK/PD data garnered to date by Acasti, will likely support the commencement of a potential pivotal trial in the U.S. by the end of 2012."
Source: http://bit.ly/LCXafO (http://bit.ly/LCXafO%20)
On Wednesday, the Neptune announced (http://finance.yahoo.com/news/neptunes-board-directors-welcomes-dr-120000693.html) that former CEO of Imclone Systems, Dr. Harlan Waksal, was appointed to the Neptune's Corporate Board of Directors. Waksal currently serves as Executive Vice-President, Business & Scientific Operations of Neptune's subsidiary Acasti Pharma Inc.
The move is being well received by industry observers and analysts, given the Wall Street relationships and impressive experience which Waksal brings to the Canadian firm.
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Source: Equity Briefing via Thomson Reuters ONE
