VistaGen Therapeutics (VTGN) Gets a Buy Rating from Oppenheimer


In a report released yesterday, Jay Olson from Oppenheimer assigned a Buy rating to VistaGen Therapeutics (NASDAQ: VTGN), with a price target of $6. The company’s shares closed yesterday at $1.40.

Olson noted:

“JNJ filed an NDA for esketamine nasal spray—an event we view as a potentially important read across to VTGN’s AV-101, which is oral and works on the same NMDA receptor. JNJ is seeking FDA approval of esketamine for treatment-resistant depression (TRD) in adults. Esketamine is a single-enantiomer version of ketamine which is thought to help restore connections between brain cells in patients with TRD resulting in rapid improvement of symptoms. The FDA granted for esketamine nasal spray in TRD and major depressive disorder (MDD) at risk for suicide. JNJ completed five Ph3 studies in TRD and is conducting Ph3 studies in MDD patients at risk for suicide. AV-101 is in two Ph2 studies.”

According to TipRanks.com, Olson is a 2-star analyst with an average return of 0.4% and a 45.7% 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 Strong Buy, with a price target consensus of $11.33, a 709.3% upside from current levels. In a report issued on August 30, Maxim Group also maintained 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 307.5K.

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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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