Market Overview

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

Share:

Shares of VistaGen Therapeutics Inc (NASDAQ: 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

Latest Ratings for VTGN

DateFirmActionFromTo
Aug 2019William BlairInitiates Coverage OnOutperform
Jul 2019Chardan CapitalDowngradesBuyNeutral
Jun 2018Maxim GroupInitiates Coverage OnBuy

View More Analyst Ratings for VTGN
View the Latest Analyst Ratings

 

Related Articles (VTGN)

View Comments and Join the Discussion!

Posted-In: Jay OlsonAnalyst Color Biotech News Price Target Initiation Analyst Ratings General

Latest Ratings

StockFirmActionPT
DEWilliam BlairUpgrades
SIXGoldman SachsInitiates Coverage On
HPQCFRAMaintains17.0
DLTRCFRAMaintains110.0
DGCFRAMaintains230.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com