Maxim Group analyst Jason McCarthy maintained a Buy rating on VistaGen Therapeutics (VTGN – Research Report) yesterday and set a price target of $12.00.
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Jason McCarthy’s rating is based on several promising developments in VistaGen Therapeutics’ pipeline. The company has recently initiated a Phase 2 repeat-dose study for fasedienol, targeting the treatment of social anxiety disorder (SAD), alongside progressing Phase 3 studies, PALISADE-3 and PALISADE-4, which are expected to yield results in 2025. The success of a prior Phase 3 study, PALISADE-2, which demonstrated significant efficacy in reducing SAD symptoms, adds confidence to the potential outcomes of these ongoing trials.
Additionally, VistaGen has reported positive results from a Phase 2a study of PH284, a neuroactive spray designed for cancer cachexia treatment. This innovation in their pipeline broadens their therapeutic reach and presents additional growth opportunities. The company’s solid financial position, with $88.6 million in cash, further supports its ongoing research and development activities, enhancing the overall investment appeal.
VTGN’s price has also changed moderately for the past six months – from $3.470 to $2.850, which is a -17.87% drop .