VistaGen Therapeutics (VTGN) received a Hold rating and a $0.70 price target from Chardan Capital analyst Gbola Amusa today.
Amusa commented:
“We transfer coverage of VTGN to better align coverage with current focus areas of analysts. We downgrade to $0.70 price target. We believe that VistaGen Therapeutics now faces an uphill battle after a setback in AV-101 development, one that to us will not be aided by recent pipeline acquisitions. VistaGen announced the NIMH-sponsored phase II trial (NCT02484456) of AV-101 in treatment resistant depression (TRD) missed its primary endpoint of change from baseline on the Scale (HDRS). 19-patient study showed no separation of AV-101 from placebo. The NIMH trial evaluated AV-101 as a monotherapy, whereas VistaGen is positioning AV-101 as an adjunct therapy. However, to us a clinical trial failure does not bode well for the success for AV-101.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 22.6% and a 53.1% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Logicbio Therapeutics Inc, Voyager Therapeutics Inc, and Axovant Gene Therapies.
Currently, the analyst consensus on VistaGen Therapeutics is a Moderate Buy with an average price target of $2.35.
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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 $4.21 million.
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VistaGen Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of new generation medicines to treat diseases and disorders of the central nervous system. Its portfolio focuses on three clinical-stage product; neuropathic pain (NP), levodopa-induced dyskinesia (LID), social anxiety disorder (SAD) and suicidal ideation (SI). Its product include AV-101 product and PH10 neuroactive nasal spray.The company was founded by H. Ralph Snodgrass and Gordon Keller on May 26, 1998 and is headquartered in South San Francisco, CA.