Basic Shares: 48.2 million
Fully diluted: 53.9 million
**********************************
Toronto
based, Catalyst Equity Research published two updated reports today, one for
Neptune Technologies and one for Acasti Pharma (57% owned by Neptune). In the
reports, Catalyst Analyst Robin Cornwell, raises his price targets for Neptune
to $8.75 from $7 and Acasti to $4.25 from $2.75.
“This
increase is driven largely by our recent de-risking of Acasti’s potential
success in its clinical trials for its drug candidate, CaPre™. By marginally
lowering our discount rate to 30% from 35% in our discounted cash flow model,
our Acasti share valuation increased to $4.50 from $2.75. Furthermore, strong
global demand for krill oil is expected to generate increased sales for Neptune’s
nutraceutical business which has resulted in a higher valuation for that
business as well.”
About
Catalyst Equity Research
Catalyst was founded in 2003 and is located in Toronto. Catalyst is the only major independent equity research company in Canada specializing exclusively in the financial services sector. Its product is designed to identify investment opportunities, risks and strategic alternatives for both investors and corporations.
Catalyst was founded in 2003 and is located in Toronto. Catalyst is the only major independent equity research company in Canada specializing exclusively in the financial services sector. Its product is designed to identify investment opportunities, risks and strategic alternatives for both investors and corporations.
Robin
Cornwell is the founder and principal shareholder of Catalyst. He is a veteran
of the world of analyzing financial service companies in Canada having been
involved in both the research and corporate finance aspects of the investment
business for almost 30 years.
As a financial service analyst, he has researched chartered banks, trust companies, mutual fund companies, life insurance companies and investment counselors in Canada. He has acted in the capacity of Director of Research on three occasions and Director of Capital Markets on two occasions.
In his corporate finance activities, he was instrumental in many IPO’s including Great-West Lifeco, London Life and Newcourt Credit and acted in various advisory capacities for major companies including Power Financial, AGF Management and HSBC Canada.
He began his career with Dominion Securities, Harris & Partners Limited in 1972 and has held senior positions with McCarthy Securities Limited, Gordon Capital Corporation, C.M.Oliver Inc., and Laurentian Bank Securities Inc.
As a financial service analyst, he has researched chartered banks, trust companies, mutual fund companies, life insurance companies and investment counselors in Canada. He has acted in the capacity of Director of Research on three occasions and Director of Capital Markets on two occasions.
In his corporate finance activities, he was instrumental in many IPO’s including Great-West Lifeco, London Life and Newcourt Credit and acted in various advisory capacities for major companies including Power Financial, AGF Management and HSBC Canada.
He began his career with Dominion Securities, Harris & Partners Limited in 1972 and has held senior positions with McCarthy Securities Limited, Gordon Capital Corporation, C.M.Oliver Inc., and Laurentian Bank Securities Inc.
To
view the Catalyst update on Neptune, please click here
To
view the Catalyst update on Acasti, please click here
