Maxim Reiterates Buy on AEterna Zentaris Inc. (USA) (AEZS) Following IND Submission for Zoptrex in China
In a research report issued Wednesday, Maxim analyst Jason Kolbert reiterated a Buy rating on shares of AEterna Zentaris Inc. (USA) (NASDAQ:AEZS), with a price target of $11, after the company announced that its licensee Sinopharm A-Think Pharmaceuticals submitted an Investigational New Drug application (IND) for Zoptrex to the China Food and Drug Administration (CFDA). AEZS is currently trading at $3.58, up $0.14 or 4.07%.
Kolbert noted, “AEterna Zentaris continues to advance its clinical development of Zoptrex. While the China study is expected to start in first half of next year, we expect data from two ongoing Phase III studies (ZoptEC and Macrilen) to read out in 3Q16.”
“As a reminder, the Phase III ZoptEC study is fully enrolled (N=500) and is evaluating Zoptrex (a peptide-conjugated doxorubicin) in advanced, recurrent or metastatic endometrial cancer. The study is on track to complete in 3Q16 with data expected the following quarter. If the data are positive (which we expect), an NDA should follow (1H17),” the analyst added.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a yearly average return of -17.2% and a 28.4% success rate. Kolbert has a -66% average return when recommending AEZS, and is ranked #3877 out of 3974 analysts.
As of this writing, all the 3 analysts polled by TipRanks rate Aeterna Zentaris stock a Buy. With a return potential of 199%, the stock’s consensus target price stands at $10.67.