VistaGen Therapeutics (NASDAQ: VTGN) received a Buy rating and a $6 price target from Oppenheimer analyst Jay Olson today. The company’s shares opened today at $1, close to its 52-week low of $0.69.
Olson commented:
“We initiate coverage of VTGN with an Outperform rating and a $6 price target, based on our view that the company is underappreciated and undervalued, with a novel, potentially best-in-class, rapid acting oral antidepressant. We believe VTGN’s unique antidepressant (AV-101) may offer ketamine-like efficacy without the side effects or inconvenience. VTGN currently has a pair of Phase 2 trials running to demonstrate the efficacy and safety of AV-101 in patients with depression and an inadequate response to at least one prior treatment. The first, smaller (N=~25) trial is expected to read out by the end of 2018, and the second, larger (N=~180) trial is expected to read out by mid-2019. We believe these trial readouts are important catalysts that could unlock substantial shareholder value.”
According to TipRanks.com, Olson is a 1-star analyst with an average return of -1.4% and a 44.3% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
VistaGen Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $6.
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Based on VistaGen Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $3 million. In comparison, last year the company had a GAAP net loss of $2.55 million.
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VistaGen Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to developing and commercializing innovative product candidates for patients with diseases and disorders involving the central nervous system.
