In a report released today, Caroline Palomeque from Maxim Group maintained a Buy rating on VistaGen Therapeutics (NASDAQ: VTGN), with a price target of $6. The company’s shares opened today at $1.50.
Palomeque wrote:
“This week, a new study was published in the Psychiatry titled “Attenuation of The study found that, in patients with treatment-resistant depression who received naltrexone (an opioid receptor blocker) before ketamine (an NMDA receptor blocker), the therapeutic effects of ketamine were significantly weakened. The question is why?.”
According to TipRanks.com, Palomeque is a 1-star analyst with an average return of -4.0% and a 41.2% success rate. Palomeque covers the Healthcare sector, focusing on stocks such as Soleno Therapeutics Inc, Anavex Life Sciences, and Daré Bioscience Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for VistaGen Therapeutics with a $11.33 average price target, implying a 655.3% upside from current levels. In a report issued on August 24, Oppenheimer also assigned a Buy rating to the stock with a $6 price target.
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Based on VistaGen Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.21 million. In comparison, last year the company had a GAAP net loss of $2.27 million.
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VistaGen Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of new generation medicines for depression and other diseases and disorders of the central nervous system. It focuses on AV-101 product, an oral, non-opioid and non-sedating therapy that offers the potential to be a new at-home treatment for multiple central nervous system indications with high-unmet medical need. The company was founded by H. Ralph Snodgrass and Gordon Keller on May 26, 1998 and is headquartered in South San Francisco, CA.
