In a report released today, Gbola Amusa from Chardan Capital maintained a Buy rating on VistaGen Therapeutics (NASDAQ: VTGN), with a price target of $22. The company’s shares closed yesterday at $1.33.
Amusa wrote:
“We understand that trial centers are continuing to come online and patient enrollment is on track. Of note, also, is the anticipated data in 2H18 from the NIMH-sponsored 25-patient phase II trial (NCT02484456) of AV-101 as a monotherapy, which will likely provide helpful insight on biomarker and mechanistic data. To support the continued development of AV-101, VistaGen has been issued a patent on the therapeutic uses of AV-101 in MDD (similar to methods of use) as well as a patent on unit dose formulations (almost tantamount to composition of matter). The patents provide protection for AV-101 through 2034.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 25.1% and a 52.8% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Applied Genetic Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for VistaGen Therapeutics with a $6 average price target, representing a 351.1% upside. In a report issued on June 27, Maxim Group also initiated coverage with a Buy rating on the stock with a $6 price target.
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The company has a one-year high of $2.65 and a one-year low of $0.69. Currently, VistaGen Therapeutics has an average volume of 880.1K.
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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.
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