Maxim Reiterates Buy on AEterna Zentaris Inc. (USA) as New Macrilen Phase III Study Starts
In a research report issued today, Maxim Group analyst Jason Kolbert reiterated a Buy rating on AEterna Zentaris Inc. (USA) (NASDAQ:AEZS), with a $2.00 price target , after the company announced its plans to initiate a Phase 3 study of Macrilen in AGHD. Shares of AEterna closed today at $0.54, up $0.02 or 4.54%.
Kolbert noted, “We see this as a positive for the company. The endocrinology community believes Macrilen is efficacious and worth pursuing further, and the FDA has granted another phase III study.” Furthermore, “The Macrilen CRL caused the share price to drop significantly in 2014. With a new Macrilen trial coming and several near-term catalysts, we believe the valuation today offers an opportunity for investors.”
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 11.7% and a 48.8% success rate. Kolbert has a -29.8% average return when recommending AEZS, and is ranked #233 out of 3574 analysts.