Friday, 16 August 2013

JMP Securities Increases Neptune Price Target To $7


Neptune Technologies and Bioressources
TSX: NTB – NASDAQ: NEPT
Basic Shares: 60.0 million
Fully Diluted: 67.5 million
 
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Soon after Acasti posted extremely positive results from its Phase II Open Label Study, JMP Analyst Jason Butler, Ph.D., provided clients with an update on Neptune that reiterated its Market Outperform rating while increasing his price target from $6 to $7.

Mr. Butler states, “The results demonstrated that CaPre demonstrated statistically significant reductions of triglyceride levels, greater than 20% after eight weeks of treatment. Additionally, improvements in other lipid parameters were observed, including an increase in HDL cholesterol and decreases in LDL cholesterol and non-HDL cholesterol.”

“In our view, these data are strongly supportive of advancing CaPre into Phase 3 development and, as such, we are lowering our discount rate for the program from 35% to 30%, and as a result increasing our price target from $6 to $7.”

To view the full report, please click here.