After Oppenheimer and Chardan Capital gave VistaGen Therapeutics (NASDAQ: VTGN) a Buy rating last month, the company received another Buy, this time from Maxim Group. Analyst Caroline Palomeque maintained a Buy rating on VistaGen Therapeutics today and set a price target of $6. The company’s shares opened today at $1.70.
Palomeque commented:
“VistaGen announced that the FDA has granted Fast Track designation for AV-101 as a non-opioid, non-sedating treatment for neuropathic pain. AV-101 is an oral NMDA antagonist that binds to Glycine B site and does not completely block the receptor. AV-101 already has for major depressive disorder (MDD).”
According to TipRanks.com, Palomeque is a 1-star analyst with an average return of -1.4% and a 44.6% success rate. Palomeque covers the Healthcare sector, focusing on stocks such as Soleno Therapeutics Inc, Anavex Life Sciences, and Daré Bioscience Inc.
VistaGen Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $11.33, which is a 566.5% upside from current levels. In a report released today, Chardan Capital also reiterated a Buy rating on the stock with a $22 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 $5 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.
