UPDATE: Canaccord Genuity Reiterates Hold Rating, Raises PT on AEterna Zentaris
In a report published Monday, Canaccord Genuity reiterated its Hold rating on AEterna Zentaris (NASDAQ: AEZS), and slightly raised its price target from $2.25 to $2.50.
Canaccord Genuity noted, “We view the recently granted Special Protocol Assessment for AEZS-108 as an incremental positive for AEterna Zentaris, as it modestly reduces regulatory risk, in our view. The upcoming Phase III pivotal study is set to enroll 500 patients and will compare AEZS-108 against doxorubicin; the primary endpoint of the trial is Overall Survival. While we recognize AEterna Zentaris' deep late-stage pipeline, beyond the interim analysis from the high-risk study of perifosine, we do not anticipate many meaningful catalysts for the stock in the near-term.”
AEterna Zentaris closed on Friday at $2.47.
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