Wednesday, 20 July 2011

Neptune's Target Share Price Hiked to $7

Neptune Technologies & Bioressources
TSXV: NTB - NASDAQ: NEPT
Basic Shares: 48.2 million
Fully diluted: 53.9 million


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Catalyst Equity Research analyst, Robin Cornwell, dramatically increased his one-year target price for Neptune shares from $5 to $7 in a July 20th update report.

That's a hefty premium over the current market price of $3.90 at the time of writing.

His target price of $2.75 for Acasti Pharma shares remained unchanged at a time when Acasti shares were trading at $1.45.

Mr. Cornwell wrote that a number of recent positive business developments, plus some soon-to-be expected announcements gave rise to the increase.

Among them was the recent announcement that two heavyweight U.S. distributors signed up to
sell Neptune Krill Oil, that Neptune's production was scheduled to double, that subsidiary, Acasti Pharma, recently got the green light to conduct phase 11 clinical trials on its krill-oil based drug candidate and that the results from clinical trials conducted by Nestle and Yoplait are expected soon.

"The important message for investors to understand is that each of these components has exceptional potential in their own right which adds huge leverage for Neptune as a whole, " Mr. Cornwell wrote.

To read his full report, please click here.