Maxim Raises Aeterna Zentaris Price Target Following 3Q14 Results
In a research report sent to investors today, Maxim Group analyst Jason Kolbert reaffirmed a Buy rating on Aeterna Zentaris (NASDAQ:AEZS) and raised his price target to $6 (from $5), which represents a potential upside of 392% from where the stock is currently trading.
Kolbert explained his new target saying, “We see the primary valuation drivers at AEZS being based on both AEZS-108 (doxorubicin conjugate) and AEZS-130 (diagnostic). We project these revenues in our models. We use a 30% discount rate in our FCFF models. Our model assumes dilution and uses a forecast share count for 2020. We also role our metrics forward from 2014 to 2015. The result is our metrics points to a $6.00 per share target.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 5.4% and a 43.4% success rate. Kolbert has a -11.9% average return when recommending AEZS, and is ranked #687 out of 3362 analysts.