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 $1.45.
Palomeque wrote:
“Johnson & Johnson (JNJ-NR) announced that it has filed the NDA of Esketamine for treatment-resistant depression. The FDA has granted for esketamine nasal spray for treatment- resistant depression. Janssen expects to file an MAA in the EU in 4Q18.”
According to TipRanks.com, Palomeque is a 1-star analyst with an average return of -0.6% and a 43.1% success rate. Palomeque covers the Healthcare sector, focusing on stocks such as Soleno Therapeutics Inc, Anavex Life Sciences, and Daré Bioscience Inc.
Currently, the analyst consensus on VistaGen Therapeutics is a Strong Buy with an average price target of $11.33, which is a 681.4% 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.
