In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on VistaGen Therapeutics (VTGN – Research Report), with a price target of $12.00.
Jason McCarthy’s Buy rating for VistaGen Therapeutics is fundamentally grounded in the company’s recent financial performance and its promising pipeline of developments. VistaGen reported a net loss of $6.6M for the F2Q24 period, ending with $37.6M in cash. However, the company raised $93.5M from an equity financing in October, bolstering its cash reserves to approximately $130M. This robust financial position is projected to provide sufficient runway into the second half of 2025.
The company’s active research programs also contribute to the Buy rating. VistaGen is set to launch two Phase 3 studies in social anxiety disorder, PALISADE-3 and PALISADE-4, in the first and second half of 2024 respectively. These studies utilize the same primary endpoint used in the successful PAL-2 study, indicating a promising path for the new trials. Additionally, the company plans to evaluate a repeat dose study for their drug fasedienol in the second half of 2024. Other pipeline updates include plans for a Phase 2b study for PH10 in major depressive disorder and the completion of IND-enabling studies for PH80, both offering potential growth avenues. Overall, VistaGen’s solid financial standing and its active and promising research programs underlie McCarthy’s Buy rating.
According to TipRanks, McCarthy is an analyst with an average return of -30.9% and a 17.37% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Oncolytics Biotech, VistaGen Therapeutics, and Aprea Therapeutics.
See the top stocks recommended by analysts >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
VistaGen Therapeutics (VTGN) Company Description:
VistaGen Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of new generation medicines to treat diseases and disorders of the central nervous system. Its portfolio focuses on three clinical-stage product; neuropathic pain (NP), levodopa-induced dyskinesia (LID), social anxiety disorder (SAD) and suicidal ideation (SI). Its product include AV-101 product and PH10 neuroactive nasal spray.The company was founded by H. Ralph Snodgrass and Gordon Keller on May 26, 1998 and is headquartered in South San Francisco, CA.
Read More on VTGN:
