Jefferies $PRTA buy recommendation with price target of $6

NASDAQ:VTGN   VistaGen Therapeutics, Inc.
Why VistaGen Therapeutics Stock Soared yesterday

The big jump came after Jefferies analyst Andrew Tsai initiated coverage on the stock with a buy recommendation. Tsai also set a one-year price target of $6, nearly three times the price of VistaGen's shares at the market close on Wednesday.

Why bullish?

Tsai really likes the potential for VistaGen's lead pipeline candidate PH94B. It's a nasal spray that VistaGen is evaluating in phase 2 studies targeting multiple neurological disorders. The company has already reported positive data from one of those studies, with PH94B showing promise in treating acute social anxiety disorder.

There are still plenty of risks for PH94B and VistaGen's two other pipeline candidates.


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