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


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.

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Latest Ratings for VTGN

Feb 2021JefferiesInitiates Coverage OnBuy
Jan 2021William BlairUpgradesMarket PerformOutperform
Oct 2020Aegis CapitalInitiates Coverage OnBuy

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