Oppenheimer Feels Positive About VistaGen's 'Best-In-Class' Antidepressant, Sets $6 Target

Shares of VistaGen Therapeutics Inc VTGN rocketed up over 40 percent to $1.36 in after-hours trading on Thursday — a mere fraction of the 500 percent upside implied by a late-day note from Oppenheimer.

The Analyst

Oppenheimer’s Jay Olson initiated coverage on VistaGen with an Outperform rating and $6 price target.

2 Catalysts Ahead

Olson’s rating hinges on positive Phase 2 trial results for VistaGen’s rapid acting oral antidepressant, AV-101.

Results from the first trial, with 25 participants, are expected by the end of the year. The second trial is much larger with 180 subjects. Those results aren't expected to be released until mid-2019.

If the Phase 2 trials are successful, Olson sees VistaGen beginning pivotal trials by early-2020, with potential NDA filing in 2022. The antidepressant would then be expected to launch in 2023.

“Our view [is that] the company is underappreciated and undervalued, with a novel, potentially best-in-class, rapid acting oral antidepressant,” said Olson in a note.

Related Links:

SMid-Cap Biotech: Barclays Downgrades Prothena, Upgrades Achillion

Best Brokers For Penny Stocks

date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorBiotechNewsPrice TargetInitiationAnalyst RatingsGeneralJay OlsonOppenheimer
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...