In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on VistaGen Therapeutics (VTGN), with a price target of $6. The company’s shares closed yesterday at $0.71, close to its 52-week low of $0.52.
McCarthy commented:
“VistaGen file its 10-K for FY19 (March), reporting a net loss of ($25.7M) and ending the period with $13.1M in cash on the balance sheet. This should provide runway through the data from the P2 ELEVATE trial which is expected in 2H of CY19 and represents the next inflection point for the company.”
According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -20.1% and a 21.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Aridis Pharmaceuticals Inc, and Achieve Life Sciences Inc.
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 March 31, the company reported a quarterly GAAP net loss of $5.72 million. In comparison, last year the company had a GAAP net loss of $4.08 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.
