Oppenheimer Reduces AEterna Zentaris PT
Oppenheimer reduced its AEterna Zentaris (NASDAQ: AEZS) price target from $5 to $4 in a research report published today. Oppenheimer has an Outperform rating on AEterna Zentaris.
In the report, Oppenheimer states, "Yesterday AEZS announced a new at-the-market ("ATM") financing for up to 10.4M shares. This program follows prior completed ATM programs ( Feb. 2011 for 12.5M shares and June 2011 for 9.5M shares).While we expected AEZS to raise capital, we anticipated such raise to occur following positive results for perifosine and/or at higher valuation."
Shares of AEterna Zentaris closed today at $1.55, down 4.91% from Monday's market close.
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