AEterna Zentaris Inc. (USA) (AEZS): Macrilen gets an “A” – Maxim

Maxim analyst Jason Kolbert weighed in on shares of AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) with a $10.00 price target, after the company announced that, following a comprehensive review of data obtained from the confirmatory Phase 3 clinical trial of Macrilen for the evaluation of growth hormone deficiency in adults – AGHD, using the insulin tolerance test (ITT) as a comparator, it concluded that Macrilen did in fact demonstrate utility & safety. The FDA has agreed to consider the company’s conclusions during a Type A meeting, which is currently being scheduled.

Kolbert commented: “Given the very high risk(s) associated with the traditional insulin tolerance test (ITT) and the “arbitrary” high limit that was set, it seems reasonable that the FDA has agreed to a Type A meeting. If an additional trial is required, we would expect a modestly powered (PIII) trial of 140 patients (at a cost of $3 million) with a year to complete. As such, we return Macrilen back to our model but push the timeline out a year. With that said, the best case outcome would be an outright approval based on the existing data set with post marketing surveillance requirement.”

As such, Kolbert reiterates a Buy rating on Aeterna Zentaris, with a price target of $10, which implies an upside of 203% from current levels.

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a yearly average return of -12.9% and a 32% success rate. Kolbert has a -46.8% average return when recommending AEZS, and is ranked #4359 out of 4430 analysts.

As of this writing, all the 3 analysts polled in the past 12 months rate AEZS stock a Buy. With a return potential of 178%, the stock’s consensus target price stands at $9.17.


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